Glossary of general terms and jargon accountant a professional who maintains accounts for businesses and individuals. Cmos by private issuers are collectively referred to as nonagency cmos. This publication, a glossary of public finance terms for. Naco is committed to helping counties meet these challenges. Laymans guide to financial terms 2014 university of toronto. We provided some important abbreviation related to banking. Dictionary of finance and banking oxford reference. A period of time, often about 25 days, during which you can pay your credit card bill without incurring a finance charge. The idea of writing a guide like this was conceived when i first taught an introductory finance course at the university of saskatchewan in 1992.
Dictionary of banking terms and phrases helpwithmybank. I like to believe it is love that moves the world but still, money and finances are in our lives every single day. We have expanded this years edition of the investment dictionary by. Doing banking from a cubicle from which food, newspapers, tickets, etc are also sold leverage ratio. The dictionary is intended to supplement rather than replace expert investment advice. Englishfrench and frenchenglish french, english abstract. Glossary of banking and credit terms financial web.
The companies selected typically are in different industries and different geographic regions. A service that oversees, measures, and evaluates financial information for decision making purposes. This accessible guide is a perfect source of reference for all those with an interest in finance. To accommodate new topics such as real options that are only just emerging into the literature.
Here is the trade finance guide to terminology used across the trade, supply chain, commodity and agency finance markets. A nongaap financial measure used to assess each of the banks businesses and to measure the banks overall performance. An alphabetical glossary of financial and business terms, plus their definitions. Terms for the updated glossary have been compiled from other entities, including the federal housing finance agency, department of. The terms of the written power of attorney may specify when it will expire.
It is the highest rated bond that gives maximum returns at the time of maturity. Hello aspirants abbreviations are commonly asked in ibps, sbi, rbi, rrb, upsc and other banking exams. Typically, an annual fee is included on cards that provide a higher value of rewards. Financial system lexicon the financial system lexicon, although not exhaustive, has been created as an aid to consistent usage. 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. A time deposit that is payable at the end of a specified amount of time or term. The forbes financial glossary defines hundreds of finance terms to help you decode the puzzle.
Public agency financial management frequently involves terms that are unfamiliar to nonexperts, the definitions of which also involve other unfamiliar. It is a financial ratio which gives us an idea or a measure of a companys ability to meet its financial losses. Glossary of risk management terms this is a comprehensive. Glossary of selected governmental accounting and financial terminology page 1 a accounting system. Below you will find key words and definitions to help you better understand the terms used in the financial services industry. 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. Budgeting glossary and definitions not sure what a word means. 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. A term referring to the refund of previously paid prop erty taxes due to the overvaluation of property. A record that holds the results of financial transactions. Banks may also provide financial services, such as wealth management, currency exchange and safe deposit boxes. 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. A basic account reconciliation service may simply be a listing of paid checks in serial number order.
Bank of canada, like other central banks, is not a commercial bank and does not offer banking services to the public. Not all concepts or coverages identified in this list are found at chapman university. Financial terms and definitions the economic times. It differs from relative return, since it isnt measured against any. Wright, director of the thomas willing institute for the study of financial markets, institutions, and regulations and the nef family chair of political economy, augustana college sd this work is not ed. A shortterm financial instrument that is the unconditional obligation of the accepting bank. Today i am providing basic financial and banking terms. This glossary is for anyone who wants and needs to learn the terms related to the field of money and banking. Total allowance for credit losses consists of counterpartyspecifc, collectively assessed allowance for. Some institutions require that you use the banks power of attorney forms. It is the ability of converting an investment quickly into cash with no loss in value.
Know the glossary of financial terms and definitions alphabetically, which are most commonly use in indian finance. Glossary of financial terms and definitions alphabetically. Go through the glossary of financial terms and know the meaning of all financial terms through their definitions here at the economic times. Cds generally pay a fixed rate of interest and offer a higher interest rate than other types of deposit accounts. One or more of a series of bank services designed to aid a deposit customer in the reconciliation of its bank account balance. Glossary of terms glossary of terms annual percentage rate apr the interest rate charged, expressed as a percent per year, for the use of credit assets possessions that have economic value some of which may provide an economic andor financial return atm automated teller machine. Apr annual percentage rate the interest charged on a credit card expressed as an annualized amount. Bear market a bear market is a prolonged period of falling stock prices, usually marked by a decline of 20% or more. More advanced account reconciliation services combine electronic data provided by the. A glossary of terms used in payments and settlement systems. However, since banking is a significant part of our business and personal life, it is useful for consumers to learn some common banking terms. There are many aspects to payment systems, relating for instance to legal arrangements. Digital financial services basic terminology general terms branchless banking definition the delivery of financial services outside conventional bank branches.
The great recession and the years following it have brought business and financial terms more frequently to the pages of nonspecialist newspapers. The guide is an important resource that will help to create a much greater understanding of. A laymans guide to financial terms utsc university of toronto. Glossary of aviation finance terms airbusiness academy. Finance careers financial manager top level professional who may have final responsibility for aspects of a business financial activity accountant professional who produces and examines financial records, prepares financial reports and tax returns.
Use this glossary to learn key terms from budgeting and personal finance. Basic financial and banking terms download pdf published on tuesday, april 18, 2017. This is the most comprehensive and uptodate dictionary of finance available. Now that you know how to learn banking terms, here are 30 you should start learning right now. Banking beyond branches uses agents or other thirdparty intermediaries as the primary point of contact with customers and relies on technologies such as cardreading point. A comprehensive glossary of terms in islamic commercial law business, banking and finance article pdf available december 2012 with 2,0 reads how we measure reads. 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. While many of us are aware of basic banking terms, there is a plethora of confusing technical terminology associated with banking and finance. Default failure to meet the terms of a credit agreement.
You can have a checking account and a savings account. This az pocket guide to understanding financial terms is just one of the achievements of ebss partnership with nala. Use this glossary to learn key business, financial, and legal terms. With most credit card accounts, the grace period applies only if you pay your balance in full each month. The cfpbs glossary of english spanish financial terms. In a series of providing free study material for sbi po exam. For example, a requirement for the borrower to provide annual audited financial statements to the bank during the term of the loan. If you have questions or need more information, please call us at 4107500020. C rac w hef g buy future right, but not the obligation, to buy or to sell, a security, exchange rate, interest rate, or other financial instrument or commodity at a predetermined price, at or by a specified future date. Glossary of public finance terms 5 tions pursuant to section 265b of the internal revenue code in any calendar year. When rbi provides a loan to the bank for shortterm between 1 to 90 days, rbi takes some interest from the bank. Businesses use accountants for services such as maintaining financial records, tax affairs and payroll services.
The basis of accounting under which revenues are recorded when earned and expenditures are recorded as soon as they result in liabilities for benefits received. 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 entries in the new edition cover the vocabulary used in. April 14, 2015 dear all welcome to the refurbished site of the reserve bank of india. Account reconciliation the act of confirming that the balance in ones checkbook register matches the corresponding bank statement. Shmoop s finance glossary defines hundreds of personal finance and business terms in relatable, easytounderstand language. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Annual percentage rate apr the yearly rate that is charged for borrowing, which represents the annual cost of funds over the term of the loan. Act, administration, appropriation, assetbacked security. The bureau created a glossary translating common financial terms into spanish in october 2015 and has updated it in 2018 with additional terms. Knowing and understanding the terms that are on your bank and credit card statements can possibly save you dollars every month.
The bank of canada glossary contains definitions of terms from various fields, including economics, finance and currency. Be familiar with these basic banking and credit terms. Read on for definitions of common commercial banking terms, so the next time you talk to your banker, youll be speaking the same language. The bureau is publically sharing it in an effort to further the accessibility of financial information to limited english proficient persons. 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. Invaluable for students and professionals in the fields of finance and banking, it is also ideal for private investors and readers of the financial pages. Glossary financial and banking terms a nongaap fnancial measure used to assess allowance for credit losses. The most comprehensive investing glossary on the web. This is a report and opinion, by an independent person or firm, on an organisations financial records. Authorised share capital this is the highest amount of share capital that a company can issue.
Kids learn about money and finance glossary and terms including bank, capitalism, currency, dept, deposit, interest, loan, salary, and more. Glossary of aviation finance terms william gibson, airbusiness academy 4 rev. Your pocket guide to understanding financial terms. It will be easy for you to prepare for upcoming bank exams interviews. Having launched it originally in 2004 we have now updated it with modern. Liability arising from extremely dangerous operations. Some institutions require that you use the bank s power of attorney forms. Often bailouts are by governments, or by consortia of investors who demand. Deposit money added to an account at a financial institution. The equation that is the basis of the balance sheet. Bankers acceptances, or bas, arise from transactions involving the import, export, transit, or storage of goods, including domestic as well as international transit. It does not apply if you carry a balance forward or in the case of cash advances.
The bank may refer to this as a durable power of attorney. From 401ks to zerosum investments, the glossary is an evolving reference for investors and. Account ownership there are a number of different types of account ownership. 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.
The contract governing your openend credit account, it provides information on changes that may occur to the account. So, weve brought together a glossary for the most common terms to help you get up to speed. Glossary financial and banking terms adjusted results. Glossary of important business, economic, and financial history terms by robert e. Glossary of banking terms and definitions wealth how. A bank is a financial institution licensed to receive deposits and make loans. If you have questions or need more information, please call us at. This wealthhow article presents to you a glossary of banking terms and definitions that might help resolve your doubts. Balanced fund mutual funds that seek both growth and income in a portfolio with a mix of common stock, preferred stock or bonds. Banking terms and concepts are many and can sometimes be difficult to figure out, even for the industry professionals. An accepting house is a banking or finance organization.
In the world of business and finance there is a lot of jargon, or normal everyday words but with different meanings. A nongaap financial measure used to assess each of the bank s businesses and to measure the bank s overall performance. Get 50% off quizlet plus through monday learn more. Glossary of risk management terms this is a comprehensive list of insurance terms. It is not a replacement for legal or financial advice and as the industry changes we will endeavour to update it. Working on this glossary, we went through many authoritative glossaries to pick up the useful contemporary words for the readers of this. The following glossary is designed to help non finance experts understand some of the terminology used in public agency financial management. You will come to rely on this as a valuable reference for your banking transactions. A slang term used to refer to something favorable that has happened in business. One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise. Duncan williamson, times educational supplement, december 2004. Glossaries for translators working in spanish, french, japanese, italian, etc. Cds are insured by the fdic up to applicable limits.
Apr 18, 2017 in a series of providing free study material for sbi po exam. The checking account also called current account in british english allows you to take out money anytime you want. For example, an employee receiving a raise may reply with the words cool beans, upon receiving the news. Here we are providing you, 50 important banking terms useful for upcoming bank exam interview in an easy way. Lapsed option 2 absolute return absolute return is the return that an asset achieves over a certain period of time.
Dec19 capital lease a lease where the aircraft must be stated on the airlines balancesheet. Pdf complete list of banking terms with definitions for. Very useful for engineers preparing for bank exams. It is a very wide term that is used in context with financial agreements and contracts. While lecturing on certain topics, i would occasionally observe puzzled faces upon mentioning some basic financial terms. Such bonds are more marketable, and thus price better in the market, because certain financial institutions that purchase the bonds are given more favorable tax treatment on money they are deemed to have borrowed to carry. Having launched it originally in 2004 we have now updated it with modern terminology to meet with the increasing demand for the book. This glossary of common financial terms was created and is used by the bureau for translating consumer education materials from english to spanish. Any and all persons designated and authorized to transact business on behalf of an account. Glossary of financial terms independent bank in memphis, tn.
Banking glossary annual percentage rate the rate of interest being charged for a loan over a years time appreciate to grow in value. 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. The word absorption means the process of renting a real estate property that is newly built or is recently renovated. A number of the terms have other noninvestment related meanings, which we have not captured. Financial terminology can be complex, so weve provided definitions of many common financial terms to help with your personal financial planning. This financial glossary is available in german, english and arabic. The amount is set out in the companys memorandum of association. It combines various glossaries appended to earlier reports by the cpss and the european central bank ecb. Absorption is a term related to real estate, banking and finance fields. Glossary of finance terms national association of counties. 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.