Have your paycheck deposited directly into your bank or. It is a bond that is sold at good discount as it has no coupon. A glossary of terms used in payments and settlement systems. Glossary of terms, concepts banking surely is a beat with a language all its own. Today i am providing basic financial and banking terms. This is a list of some of the key terms youll need to know and will come across frequently. In the united states, the term generally refers to a draft or cheque drawn by a bank on itself or on funds deposited with another bank. This banking terminology pdf will help a lot to acquire basic banking knowledge and can act like a basic banking terminology dictionary. Pdf complete list of banking terms with definitions for. Use this glossary of mortgage terms to better understand the overall mortgage process as well as any specific mortgage terms that may be unfamiliar to you. This glossary of common financial terms was created and is used by the bureau for translating consumer education materials from english to spanish. The guide is an important resource that will help to create a much greater understanding of. Balanced fund mutual funds that seek both growth and income in a portfolio with a mix of common stock, preferred stock or bonds. Now that you know how to learn banking terms, here are 30 you should start learning right now.
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. The equation that is the basis of the balance sheet. This wealthhow article presents to you a glossary of banking terms and definitions that might help resolve your doubts. 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. Banking terms pdf download gr8ambitionz prepare for. It will be easy for you to prepare for upcoming bank exams interviews. Abbreviations are commonly asked in ibps, sbi, rbi, rrb, upsc and other banking exams. 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. Customers glossary of terms this glossary should be used in conjunction with the online fatca and crs selfcertification form.
Here terms are given and their definitions are also updated soon. Englishfrench and frenchenglish french, english abstract. Glossary of banking terms and definitions wealth how. It is the rate of interest charged by a central bank to commercial banks on the advances and the loans it extends. 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. Glossary of banking terms banking terminology federal. Banking terms list of important banking terminology pdf.
Banks may also provide financial services, such as wealth management, currency exchange and safe deposit boxes. The bureau is publically sharing it in an effort to further the accessibility of financial information to limited english proficient persons. Endorsements are residual liabilities of the group in respect of bills of exchange which have been paid and subsequently rediscounted. Glossary of banking terms suntrust facts about banking. The companies selected typically are in different industries and different geographic regions.
Learn french banking vocabulary words, terms and phrases. For example, an employee receiving a raise may reply with the words cool beans, upon receiving the news. Cds are insured by the fdic up to applicable limits. When rbi provides a loan to the bank for shortterm between 1 to 90 days, rbi takes some interest from the bank. 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 bank may refer to this as a durable power of attorney. Usually the grade aaa is given to the best debt obligation or. Clickhere to download the list of important banking terminologies in pdf. By continuing to use the site after these terms have been modified and posted on the site, you agree to be bound by the terms as modified. The group expects most acceptances to be presented, but reimbursement by the customer is normally immediate.
Very useful for engineers preparing for bank exams. The banking industry is no different, and many terms have sprung up that may or may not be understood by outsiders. Page 2 of 4 bill pay a service from tcf that lets you pay your bills online. In the case of a tellers cheque, one bank is the drawer and a second bank is the drawee. The cfpbs glossary of english spanish financial terms. An individual or business that is obligated to pay on an account, chattel paper, contract right, or general intangible. The bureau created a glossary translating common financial terms into spanish in october 2015 and has updated it in 2018 with additional terms. Account level charge charges against any account transactions i. Bare trustee a bare trustee holds property on trust for another person until asked to return the property. In terms of the guidelines on basel ii, the banks are required to have a boardapproved policy on internal capital adequacy assessment process icaap to assess the capital requirement as per icaap at the solo as well as consolidated level.
Cds generally pay a fixed rate of interest and offer a higher interest rate than other types of deposit accounts. Monthly record of all activity within an account, provided by the bank. Here we are giving 25 most common basic banking concepts terms and 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.
Capital gain a positive difference between an assets price when bought and its price when or if sold. Basic financial and banking terms download pdf published on tuesday, april 18, 2017. Fatca and crs selfcertification form for bank of ireland. While many of us are aware of basic banking terms, there is a plethora of confusing technical terminology associated with banking and finance. A glossary of terms used in payments and settlement systems bis. Capital is divided into different tiers according to the characteristics qualities of each. Account information and services available online from a persons banking institution. Some institutions require that you use the bank s power of attorney forms. Below are the basic banking terms and definitions one must know. A bank is a financial institution licensed to receive deposits and make loans. These atms usually have an added fee for their use.
This section includes definitions of terms that are frequently used over the portal. The following definitions are as provided by revenue. Definitions of key terms and phrases used in commercial, retail and investment banking and bank regulation. These banking terms for interview pdf will help a lot to acquire basic banking knowledge. This az pocket guide to understanding financial terms is just one of the achievements of ebss partnership with nala. Working on this glossary, we went through many authoritative glossaries to pick up the useful contemporary words for the readers of this. A service that oversees, measures, and evaluates financial information for decision making purposes. Periodically the bank provides a statement of a customers deposit account. An interest rate that was given at the time the account was opened. One or more of a series of bank services designed to aid a deposit customer in the reconciliation of its bank account balance. So, weve brought together a glossary for the most common terms to help you get up to speed. If you withdraw your money early, you pay a penalty. 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.
C charge card balance the amount of all new transactions that have occurred since your last premier plus charge card account statement, including current day activity. Amortization period the actual number of years it will take to repay a mortgage loan in full. Since this is the banking industry, and most people have had dealings with banks, some of the terminology has become commonplace. We provided some important abbreviation related to banking. The checking account also called current account in british english allows you to take out money anytime you want. However, the most current version of these terms will always be posted on the site. Some institutions require that you use the banks power of attorney forms.
There are many aspects to payment systems, relating for instance to legal arrangements. A record that holds the results of financial transactions. Opening account balance beginning of the day bod balance is the balance in an account at the beginning of each business day. World bank glossary world bank documents world bank group. A nongaap financial measure used to assess each of the bank s businesses and to measure the bank s overall performance. Balance in the account can be opening account balance or closing account balance. A slang term used to refer to something favorable that has happened in business. Check a method of payment in which money is drawn from an account.
F riends, knowing banking terminology with definitions play a vital role in your success in almost all bank exams and interviews. Banking glossary annual percentage rate the rate of interest being charged for a loan over a years time appreciate to grow in value. Having launched it originally in 2004 we have now updated it with modern terminology to meet with the increasing demand for the book. 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 definitions of general banking terms for interview are very helpful to one who is preparing for bank exams and to answer the. When a borrower cannot pay debts and cannot work out a payment plan with the. In march 2008, the federal reserve bank of new york provided an emergency loan to try to avert a sudden collapse of the company. This small pdf file of 28 pages covered all important terms related to banking with detailed explanations more than 250 terms are there. Investment bank, the european bank for reconstruction and development, or of any organisation to which the diplomatic relations and immunities acts 1967. It combines various glossaries appended to earlier reports by the cpss and the european central bank ecb.
This glossary is for anyone who wants and needs to learn the terms related to the field of money and banking. Basic banking terms and definitions pdf free download. Bear market a bear market is a prolonged period of falling stock prices, usually marked by a decline of 20% or more. 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. Here some banking terms are given and their definitions are also updated soon. Dictionary of banking terms and phrases helpwithmybank. 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 basic approach of capital adequacy framework is that a bank should have sufficient capital to provide a stable resource to absorb any losses arising from the risks in its business.
Here with this post we are providing you the pdf file of bank terms. Glossary financial and banking terms adjusted results. Here we are providing you, 50 important banking terms useful for upcoming bank exam interview in an easy way. It is the highest rated bond that gives maximum returns at the time of maturity. An atm that does not display a bank s name or logo. This balance does not include any pending charge card payments. Total allowance for credit losses consists of specific and general allowances. E banking definition of e banking electronic banking, also known as electronic funds transfer eft, is simply the use of electronic means to transfer funds directly from one account to another, rather than by cheque or cash. Banking book positions attract credit risk regulatory capital requirements or deductions where required. The acquiring institution is also referred to as the assuming institution. 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 cancelled check a check that has been stamped to show that the payee has received the designated amount from the bank and that amount has been deducted from the account holders checking account. A abstract of title skip to next word a written history of all the transactions related to the title for a specific tract of land.
You can have a checking account and a savings account. This edition of the world bank glossary has been revised and expanded by the. Glossary global investment bank and financial services. Terms for the updated glossary have been compiled from other entities, including the federal housing finance agency, department of. Banking terminology abbreviations money instructor. A time deposit that is payable at the end of a specified amount of time or term. In the case of a cashiers cheque, the bank is both the drawer and drawee. A healthy bank or thrift institution that purchases some or all of the assets and assumes some or all of the liabilities of a failed institution in a purchase and assumption transaction. Pdf complete list of banking terms with definitions for bank. Tcf reserves the right to modify these terms at any time without notice.