Patchwork and Gap

noun

• A theory or argument made up of miscellaneous or incongruous ideas.
  • synonyms: hodgepodge, jumble
• A quilt made by sewing patches of different materials together.
  • synonyms: patchwork quilt
• Sewing consisting of pieces of different materials sewn together in a pattern. .

(n.) Work composed of pieces sewed together, especially pieces of various colors and figures; hence, anything put together of incongruous or ill-adapted parts; something irregularly clumsily composed; a thing putched up.

noun

• A conspicuous disparity or difference as between two figures.
  • usage: "gap between income and outgo"; "the spread between lending and borrowing costs"
  • synonyms: spread
• An open or empty space in or between things.
  • usage: "there was a small opening between the trees"; "the explosion made a gap in the wall"
  • synonyms: opening
• A narrow opening.
  • usage: "he opened the window a crack"
  • synonyms: crack
• A pass between mountain peaks.
  • synonyms: col
• A difference (especially an unfortunate difference) between two opinions or two views or two situations.
• An act of delaying or interrupting the continuity.
  • usage: "it was presented without commercial breaks"; "there was a gap in his account"
  • synonyms: break, interruption, disruption

verb

• Make an opening or gap in.
  • synonyms: breach

• (v.t.) To notch, as a sword or knife.
• (n.) An opening in anything made by breaking or parting; as, a gap in a fence; an opening for a passage or entrance; an opening which implies a breach or defect; a vacant space or time; a hiatus; a mountain pass.
• (v.t.) To make an opening in; to breach.
• (n.) The vertical distance between two superposed surfaces, especially in a biplane.

(DoD) An area within a minefield or obstacle belt, free of live mines or obstacles, whose width and direction will allow a friendly force to pass through in tactical formation. See also phoney minefield.

1. As a measurement of exposure to interest rate risk, the amount of mismatch or imbalance between the quantity of an entity's assets and the quantity of its liabilities that reprice in a defined or selected time period. In a single time period, the net mismatch or imbalance may be called the interval' gap'. Over a series of consecutive time periods or buckets, the total net imbalance or mismatch may be called the cumulative gap. See: rate-sensitive assets and rate-sensitive liabilities. 2. One of the four components of interest rate risk. The component of interest rate risk arising from the mismatch defined above. Also called mismatch or repricing risk. 3. As a measurement of liquidity risk, the amount of mismatch between the quantities of cash provided from decreases in liabilities and increases in assets and the quantities of cash used by increases in assets and decreases in liabilities in a defined or selected time period.