This glossary in banking and finance is a product of the technical assistance and training program of the world bank institute for the former soviet union. Banking surely is a beat with a language all its own. World bank glossary world bank documents world bank group. Coalition for personal financial literacy, washington, d.
Glossary average annual return the rate of return on investments averaged over a specific period of time example. Englishfrench and frenchenglish french, english abstract. Founded in 1935, naco provides essential services to the nations 3,068 counties. Islamic banking terms glossary hong leong islamic bank. Check a method of payment in which money is drawn from an account. Save as banking terminology pdf or basic banking terms pdfby saving in this name you can easily recognize the file later. The companies selected typically are in different industries and different geographic regions. A record that holds the results of financial transactions. Banking activities occur in banks, credit unions and savings and loans accepting deposits and processing withdrawals preparing money orders and cashiers checks opening new accounts for. We have expanded this years edition of the investment dictionary by introducing several terms since our last update in 2012 that cover industry updates, as well as other terms not covered previously. The equation that is the basis of the balance sheet. A glossary of terms used in payments and settlement systems. Account level charge charges against any account transactions i. A time deposit that is payable at the end of a specified amount of time or term.
Nationwides relationship with axos bank gives nationwide members access to axos banks banking products and services. The payment history of an account over a specific period of time, including the number of times the account was past due or over limit. April 14, 2015 dear all welcome to the refurbished site of the reserve bank of india. Financial terminology can be complex, so weve provided definitions of many common financial terms to help with your personal financial planning. While we all know what an account balance is, in the banking parlance, it is the total amount of money in an account.
Introduction listening and responding to consumers is central to the bureau s work to educate and empower consumers to make better informed financial decisions. The guide is an important resource that will help to create a much greater understanding of. Today i am providing basic financial and banking terms. Although it is the role of specialists to use clear language rather than technical terms, sometimes these are just unavoidable. Also, the bank calculates the balance after taking all debits and credits into consideration. The dictionary is intended to supplement rather than replace expert investment advice. Complete list of banking terms with definitions for bank exams powered by. For example, mortgages often have fiveyear terms but 25year amortization periods.
The terms of the written power of attorney may specify when it will expire. Bare trustee a bare trustee holds property on trust for another person until asked to return the property. The basic banking terms are frequently asked in all the bank interviews. Banking terminology saving as basic banking terminology pdf. Backend load a form of sales charge imposed on investors by some. Pdf complete list of banking terms with definitions for. This is a revised third edition of the glossary and is. This section includes definitions of terms that are frequently used over the portal. Any and all persons designated and authorized to transact business on behalf of an account. Typically, an annual fee is included on cards that provide a higher value of rewards. Dictionary of banking terms and phrases helpwithmybank.
One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise. Glossary financial and banking terms adjusted results. Barter this is a way of paying for things, without using money, by exchanging goods. There is usually no physical movement of currency and a lack of formality with regard to verification and record. Consumers nationwide have engaged with the bureau through public field hearings, listening sessions, roundtables, town halls, the. This az pocket guide to understanding financial terms is just one of the achievements of ebss partnership with nala. A beginners guide to fintech terminology dataconomy. However, since banking is a significant part of our business and personal life, it is useful for consumers to learn some common banking terms. The bureau created a glossary translating common financial terms into spanish in october 2015 and has updated it in 2018 with additional terms. While many of us are aware of basic banking terms, there is a plethora of confusing technical terminology associated with banking and finance. This is a list of some of the key terms youll need to know and will come across frequently. Here we have arranged the banking terminology alphabetically for easy reference. Having launched it originally in 2004 we have now updated it with modern terminology to meet with the increasing demand for the book. Glossary of glossary of public finance terms 1 public finance terms about naco the voice of americas counties the national association of counties naco is the only national organization that represents county governments in the united states.
Amortization period the actual number of years it will take to repay a mortgage loan in full. The cfpbs glossary of english spanish financial terms. Alijarah thumma albai aitab lease contract followed by ownership of asset through a sale contract. Balance sheet a financial snapshot of assets and liabilities to show net worth at a. Banking book positions attract credit risk regulatory capital requirements or deductions where required. Save as banking terminology pdf by saving in this name you can easily recognize the file later.
In many jurisdictions, government regulations require financial institutions, including banks, securities dealers and money services businesses, to establish such programs. Sale contract followed by repurchase by the seller at a different price. Emcpss basis risk the risk of changes in the basis, that is, the difference between the price of. The electronic version of the publication, which is available on the bis website. The contract governing your openend credit account, it provides information on changes that may occur to the account. Aml glossary of terms the system designed to assist institutions in their fight against money laundering and terrorist financing. The bank may refer to this as a durable power of attorney. A basic account reconciliation service may simply be a listing of paid checks in serial number order. Banking terms list of important banking terminology pdf. Definitions of key terms and phrases used in commercial, retail and investment banking and bank regulation. Basic banking terms and definitions saving as basic banking terms and definitions pdf.
Terms for the updated glossary have been compiled from other entities, including the federal housing finance agency, department of. Some institutions require that you use the bank s power of attorney forms. One or more of a series of bank services designed to aid a deposit customer in the reconciliation of its bank account balance. An electronic banking network that processes large volumes. I hope readers will find this glossary a valuable addition to the previous work carried out by the committee and other institutions to advance the understanding of payment and settlement systems. Glossary of banking terms banking terminology federal. Heres a primer to get you ready for the next time you encounter fintech. Very useful for engineers preparing for bank exams. Reproduction of all or part of this glossary, in any format, without the written consent of webfinance, inc.
It combines various glossaries appended to earlier reports by the cpss and the european central bank ecb. There are many aspects to payment systems, relating for instance to legal arrangements. More advanced account reconciliation services combine electronic data provided by the. Cds generally pay a fixed rate of interest and offer a higher interest rate than other types of deposit accounts. It is the highest rated bond that gives maximum returns at the time of maturity. Assets that are offered to secure a loan or other credit. Usually the grade aaa is given to the best debt obligation or. If you have questions or need more information, please call us at.
Opening account balance beginning of the day bod balance is the balance in an account at the beginning of each business day. If you withdraw your money early, you pay a penalty. The three sites i consulted in the arrangement of this glossary, are named below. An online facility that is made available by some banks or financial organizations, in which all the transactions related to the bank account, credit facilities, debts. Most of the banking terminology in india are similar to other. Balanced fund mutual funds that seek both growth and income in a portfolio with a mix of common stock, preferred stock or bonds. An explanation of bank liquidity developed by herbert prochnow, in which the net cash flow of bank borrowers, rather than subsequent new borrowings, is seen as the true source of loan repayments. Monthly record of all activity within an account, provided by the bank. The words, expressions, institutions and definitions of the banking and finance industry can often seem dense and confusing to an undergraduate, even to one aspiring to the financial world themselves. Theres banking terms, tech lingo, and pure fintech jargon. Payment of super senior tranches takes priority over other obligations.
Glossary of commercial mortgage terms building glossary abbreviation for building tab. So, weve brought together a glossary for the most common terms to help you get up to speed. Pdf complete list of banking terms with definitions for bank. Abs cdo super senior super senior tranches of debt linked to collateralised debt obligations of asset backed securities defined below. A service that oversees, measures, and evaluates financial information for decision making purposes. Antimoney laundering aml refers to existing laws or procedures meant to reduce illegally obtained income. Glossary of banking terms and definitions wealth how. Basic banking terms and definitions pdf free download. A glossary of terms used in payments and settlement systems bis. Read on for definitions of common commercial banking terms, so the next time you talk to your banker, youll be speaking the same language.
Accordingly, to the extent that loans are written with payment terms and maturities that reflect the borrowers cash flow stream, the cash flow to the. Glossary of banking terminology explore this financial resource to learn about key banking definitions and terminology at citizens bank, your knowledge about our products is a top priority because it ensures that youre able to make smart financial decisions catered to your personal needs. Working on this glossary, we went through many authoritative glossaries to pick up the useful contemporary words for the readers of this. Loan quote glossary abbreviation for loan quote tab. Banking terminology can be confusing, especially to people who are new to the commercial banking world. A nongaap financial measure used to assess each of the banks businesses and to measure the banks overall performance. This glossary is for anyone who wants and needs to learn the terms related to the field of money and banking. Balance in the account can be opening account balance or closing account balance. This wealthhow article presents to you a glossary of banking terms and definitions that might help resolve your doubts.
This edition of the world bank has been revised and expanded by the terminology unit in the languages services division of the world bank in collaboration with the english, spanish, and french translation sections. Basic financial and banking terms download pdf published on tuesday, april 18, 2017. Banking terms that begin with a banking terms banking definitions aaa aaa is a term or a grade that is used to rate a particular bond. The most comprehensive investing glossary on the web. Bear market a bear market is a prolonged period of falling stock prices, usually marked by a decline of 20% or more. Total allowance for credit losses consists of specific and general allowances. Cds are insured by the fdic up to applicable limits. Here are a list of financial terms and definitions to help you understand banks, credit, and loans. This glossary of common financial terms was created and is used by the bureau for translating consumer education materials from english to spanish.
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