The number and size of bank mergers have recently been on the increase in many oecd countries and this seems to be related to four. Below you will find key words and definitions to help you better understand the terms used in the financial services industry. Zacks investment research list of common financial terms. Below you can read a short explanation of the most searched terms on our website. A basic account reconciliation service may simply be a listing of paid checks in serial number order. 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. It is a state of the economy in which economic activity is slowing down, but wages and prices continue to rise. Often bailouts are by governments, or by consortia of investors who demand control over the entity as the price for injecting funds. Glossary of selected governmental accounting and financial terminology page 1 a accounting system.
Dictionary of banking terms and phrases helpwithmybank. The term is blend of the words stagnation and inflation. Some loan and finance agreements have lower repayments than normal in return for a high final. The financial system lexicon, although not exhaustive, has been created as an aid to consistent usage. Banking terms and concepts are many and can sometimes be difficult to figure out, even for the industry professionals. Duncan williamson, times educational supplement, december 2004. Assets anything of value owned by the business cash accounts receivable office equipment building real estate. This is list of abbreviations and glossary of terms commonly used in the banking industry. Glossaries for translators working in spanish, french, japanese, italian, etc. This az pocket guide to understanding financial terms is just one of the achievements of ebss partnership with nala. Having launched it originally in 2004 we have now updated it with modern. The costs of closing may include the origination fee, discount points, attorneys fees, loan fees, title search and insurance, survey charge, recordation fees, and the credit.
More advanced account reconciliation services combine electronic data provided by. While many of us are aware of basic banking terms, there is a plethora of confusing technical terminology associated with banking and finance. Glossary of banking terms and definitions wealth how. A laymans guide to financial terms utsc university of toronto. The expenses incurred by sellers and buyers in transferring ownership in real property. A nongaap financial measure used to assess each of the bank s businesses and to measure the bank s overall performance. Az glossary of syndicated loan marketrelated terms loan market association. Cooper and chris argyris blackwell encyclopedic dictionary of accounting. Junk bonds are used to help finance the purchase of companies, especially by leveraged buyouts. We have expanded this years edition of the investment dictionary by.
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 contract governing your openend credit account, it provides information on changes that may occur to the account. Shmoop s finance glossary defines hundreds of personal finance and business terms in relatable, easytounderstand language. This is usually due to them being so used to the language that they forget that their clients sometimes have a hard time understanding the terms they are using. Merger 1 acquisition in which all assets and liabilities are absorbed by the buyer. Federal reserve bank of san francisco glossary of economic terms. View all finance glossary merger reserve when two companies merge, there is usually a reserve, or advance charge, taken for expected firings, buyouts of contracts, and other duplicate efforts of the combined companies. The following glossary is designed to help non finance experts understand some of the terminology used in public agency financial management. These terms are taken from cfis advanced financial modeling course on mergers and acquisitions modeling. A term used by real estate lenders and developers to describe the process of renting. In a merger, the bank that absorbs the bank acquired. 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.
Start studying personal finance terms and definitions. Free trials are only available to individuals based in the uk. Banking terminology can be confusing, especially to people who are new to the commercial banking world. A merger or consolidation in which an acquirer purchases the acquirees stock. Certified public accountant cpa accountants who meet specific educational requirements and pass a national examination auditor professional whose work involves checking on the accuracy of work completed by bookkeepers and accountants bank teller bank employee who handles deposits. Use the filter menu if you are looking for a specific term, or to navigate the glossary alphabetically. Total allowance for credit losses consists of counterpartyspecific, collectively assessed allowance for individually insignificant impaired. Financial advisers and other finance professionals will some time use financial language that is hard to understand. Its banking services are provided exclusively to central banks and.
Glossary of terms set out below is a glossary of standard transactional terminology for private equity and corporate finance transactions. Glossary of utility finance and accounting terms used in our seminars letters in parenthesis, preceding the definition, identify the sources used in compiling the glossary. The more you know, the more successful you will become in the finance game. Some of these cookies are essential to the operation of the site, while others help to improve your experience by providing insights into how the site is being used. The dictionary is intended to supplement rather than replace expert investment advice. Financial terms glossaries federal reserve bank of chicago. This wealthhow article presents to you a glossary of banking terms and definitions that might help resolve your doubts. Knowing and understanding the terms that are on your bank and credit card statements can possibly save you dollars every month. The guide is an important resource that will help to create a much greater understanding of. A loan plan in which the interest charged over the life of the loan may vary. Tan group sells oceanic bank the uaes last successful bank merger was the 2007 union of national. In a typical leveraged buyout, the buyer intends to repay the finance debt from funds gained from either the sale of assets owned by the acquired company or from profits earned by the acquired company. The definitions in the glossary are not intended to be comprehensive and complete.
We have written this a to z guide to help you to understand some of the terms you will come across when you buy a house, go into business, take out insurance, invest your money and do all. Some institutions require that you use the bank s power of attorney forms. A loan that is issued and supported only by the borrowers creditworthiness, rather than by a type of collateral. Accounts payable accruals amounts to be paid to external parties for goods and services. Method of reporting financial activity of a business financial transactions recorded in an orderly fashion. An example of an unsecured loan is a regular credit card. Glossary of aviation finance terms airbusiness academy. Glossary of aviation finance terms william gibson, airbusiness academy 3 rev. A number of the terms have other noninvestment related meanings, which we have not captured. These are the summary of an organisations financial transactions during the year covered by their.
It differs from relative return, since it isnt measured against any. Glossary of terms ac american international group aig. This edition of the world bank glossary has been revised and expanded by the. Dec19 bond a debt obligation backed by collateral or simply by the proven creditworthiness of the borrower. We have written this a to z guide to help you to understand some of the terms you will come. An abridged or estimated invoice sent by a seller to a buyer in advance of a shipment or delivery of goods. Lapsed option 2 absolute return absolute return is the return that an asset achieves over a certain period of time. We may terminate this trial at any time or decide not to give a trial, for any reason. Any and all persons designated and authorized to transact business on behalf of an account. Founded in 1935, naco provides essential services to the nations 3,068 counties. A nongaap financial measure used to assess each of the banks businesses and to measure the banks overall performance. Glossary of finance terms a account code the first a in foapal that describes the nature of expenditures and revenue in the operating ledger, as well as assets and liabilities in the general ledger. A term referring to the refund of previously paid prop erty taxes due to the overvaluation of property.
World bank glossary world bank documents world bank group. Account ownership there are a number of different types of account ownership. Having launched it originally in 2004 we have now updated it with modern terminology to meet with the increasing demand for the book. Commercial banking have you ever had a conversation with your banker and felt as though he or she were speaking a different language. It is a payment made by public authority other than one made in exchange for goods. The total structure of records and procedures which discover, record, classify, and report information on the financial position and operations of a governmental unit or any of its funds, balanced account groups, and organizational components.
The merging and continuing credit union boards of directors develop and agree to the merger agreement terms and conditions. Glossary of terms credit union notforprofit cooperatives of members with some type of common bond e. More advanced account reconciliation services combine electronic data provided by the. A financial institution which in the normal course of its business operations accepts deposits. Banking terms list of important banking terminology pdf. Use this glossary to learn key business, financial, and legal terms. The abo must be disclosed in a footnote to the financial statements.
So, weve brought together a glossary for the most common terms to help you get up to speed. 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. The terms of the written power of attorney may specify when it will expire. As long as the borrower remains in compliance with the terms of the credit agreement, the bank cannot refuse a funding request. Glossary of financial and business terms over 2,500 entries compiled by campbell r. A bailout, in economics and finance, is a fresh injection of liquidity given to a bankrupt or nearly bankrupt entity, such as a corporation or a bank, in order for it to meet its shortterm obligations. Investopedias comprehensive financial terms dictionary with over 00 finance and investment definitions.
Glossary of banking terms az 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. The bank of canada glossary contains definitions of terms from various fields, including economics, finance and currency. The a to z of financial terms plain english campaign. Finance, by february 1 of each fiscal year, a fiveyear plan for capital outlay. 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. The closing on bank of nhs acquisition of plymouthbased community guaranty bancorp, on the heels of the announced merger of newportbased lake sunapee bank group with bar harbor bankshares of maine, indicates that the national bank merger revival has reached new hampshire. Personal finance terms and definitions flashcards quizlet. Financy glossary the online dictionary of financial terms. The following glossary is designed to help nonfinance experts understand some of the terminology used in public agency financial management. Hello aspirants abbreviations are commonly asked in ibps, sbi, rbi, rrb, upsc and other banking exams. The merger agreement terms and conditions are signed and submitted to the administrator, kansas department of credit unions for preliminary approval. Be familiar with these basic banking and credit terms. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Account reconciliation the act of confirming that the balance in ones checkbook register matches the corresponding bank statement.
Our financial terms glossary will help you learn the most common financial terms, words and phrases, as well as the meaning for dozens of legal terms. It also lists creditors who have been owed money for the longest period. After the pnballied bank merger, the combined entity is expected to fortify its position as the fourth largest privately owned domestic bank in terms of total assets. For example, an employee receiving a raise may reply with the words cool beans, upon receiving the news. Glossary of investment and corporate banking services fca. Glossary financial and banking terms adjusted results. The arranging bank middle men in settling negotiations for merger or takeover between the offeree and offeror. Public agency financial management frequently involves terms that are unfamiliar to nonexperts, the definitions of which also involve other unfamiliar. A bank or other financial institution responsible for originating and syndicating a transaction. In banking, a bank that collects full interest due on. The basis of accounting under which revenues are re corded when earned and expenditures are recorded as soon as they.
Besides interest charges, the finance charge may include other costs such as cashadvance fees. The additions reflect the everchanging face of investment markets, with the. To accommodate new topics such as real options that are only just emerging into the literature. One or more of a series of bank services designed to aid a deposit customer in the reconciliation of its bank account balance. Unlike traditional bank loans, bonds pay interest only until maturity, when the company pays back the principal amount. Aged debtors report an aged debtors report lists amounts owed to a business by trade debtors and analyses how long the amounts have been due. We provided some important abbreviation related to banking. Get 50% off quizlet plus through monday learn more. The total structure of records and procedures which.