<b>Understand Banking Terms - Make Better Financial Decisions</b><br />This practical financial dictionary for banking terms helps you understand and comprehend most common banking lingo. It was written with an emphasis to quickly grasp the context without using jargon. Each of the 200 financial banking terms is explained in detail and also gives practical examples.<br /><br />It is based on common usage as practiced by financial professionals. Compiled over the last 3 years from questions and feedback to financial articles published by the Wealth Building Course education program.<br /><br /><b>The Essential Banking Dictionary</b><br />This book is useful if you are new to business and finance. It includes most popular banking terms for businesses, investors and entrepreneurs. It also covers the lingo that was introduced in the financial crisis of 2008 until 2017. With the alphabetical order it makes it quick and easy to find what you are looking for.<br /><br /><b>Example: What is a Custodian Bank?</b><br />A custodian bank is a special financial institution that carries the responsibility for protecting the financial assets of individuals or companies. These institutions can also be called simply custodians. Such outfits serve as a third party check that protects the assets they are guarding against the fund managers and any illegal activities they may pursue.<br /><br />Congress established these custodian banks with the Investment Company Act of 1940 in order to protect investors. Thanks to this particular legislation, investment companies must adhere to specific stringent listing requirements and must be registered with the Securities and Exchange Commission.<br /><br />The custodian bank performs a number of activities in their primary function of watching over the financial assets of businesses and individuals. They settle sales and purchases of bonds and equities and physically protect the certificates of these assets. These institutions also gather information about and income from such assets. When the assets are stocks this means dividends. When the instruments are bonds, they collect the interest from the coupons. The custodians also disperse information they gather, pertaining to yearly general meetings and shareholder voting. They handle any foreign exchange transfers as necessary and manage all cash transactions. Finally, custodians deliver routine reports on their various activities to the customers.<br /><br />Custodians banks provide reports on every trade or deal which they transact on behalf of the clients. They must be consistently delivered. Along with these reports they furnish information on the companies whose assets they hold besides information on general meetings. When a custodian is holding foreign shares or bonds, they will also have to change currencies as necessary. This is the case when the fund manager buys or sells foreign currency assets. It is also necessary when companies pay out dividends or bonds receive interest with these overseas financial instruments. Custodian banks are a critical component of the modern investment environment. Without them to carry out these functions, all of the important financial record keeping and housekeeping items would be neglected.<br /><br />Not all custodian banks are national operations in the United States. A number of the major international financial institutions offer these services around the globe. These are called global custodians. Such international outfits use their own branches in the various countries in which they operate to manage the accounts and assets for their customers. In other cases, they may employ other custodians to assist them with these services. In these types of situations, the customer assets will be held by pension funds.<br /><br /><b>Note:</b> Example shorted due to publish restrictions. All terms offer more than 600 words descriptions each.
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Periodic Statement: The billing summary produced and mailed at specified intervals, usually monthlyA mortgage gives the lender a right to take possession of the property if the borrower fails to pay off the loanRESPA also limits the amount of funds held in escrow for real estate taxes and insuranceSee also FDIC and Who Regulates My Bank? Prepayment Clause: A clause in a mortgage allowing the mortgagor to pay off part or all of the unpaid debt before it becomes dueNon-domicile Non-domicile status is given to people who were either not born here or whose parents spent most of their lives in another countryIn simple terms: budget = plan or a cost element within a plan; forecast = updated budget or planADR American Depository Receipts are a way for American investors to hold foreign stocksOne of the three principal business reporting and measuring tools (along with the balance sheet and cashflow statement)
Treasury BondsUU.SThe check itself is not the method of paymentLine of Credit: A pre-approved loan authorization with a specific borrowing limit based on creditworthinessTo use simply the total value of stock purchases during the period in question would not produce the correct and relevant figure, as some product sold was already held in stock before the period began, and some product bought during the period remains unsold at the end of itSubstitute Check: A substitute check is a paper copy of the front and back of the original checkBanks use a credit score to help determine whether you qualify for a particular credit card, loan, or service
Derivative A derivative is the collective term used for a wide variety of financial instruments whose price derives from or depends on the performance of other underlying investmentsworking capitalMeasure of operational efficiency - shows how much revenue is produced per of assets available to the businessForgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or checkTime value of money Money has a time valueIndex-linked CDs provide the investor the ability to participate in the appreciation, if any, of a particular index, during the term of the CDAutomated Clearing House (ACH): A computerized facility used by member depository institutions to electronically combine, sort, and distribute inter-bank credits and debitsView All VIDEOS Loading the playerSubstitute checks were created under Check 21, the Check Clearing for the 21st Century Act, which became effective on October 28, 2004
Stop-loss A stop-loss is an instruction given to a broker to by or sell a stock to limit losses if it moves beyond a certain leveldividend Interest transfer A process that allows interest earned on one account to be transferred to another accountSome stock held before the period often remains unsold at the end of it tooAGMs also provide an opportunity for shareholders to question the directors on the company's performance and other issuesFiscal cliff The phrase fiscal cliff was coined to capture the large and predicted reduction in the US budget deficit expected as specific laws kicked into effect from 2013Real estate A tangible property asset consisting of land and/or buildingsMoney market funds usually offer checkwriting privilegesInsufficient Funds: When a depositor's checking account balance is inadequate to pay a check presented for paymentSpecial Flood Hazard Area (SFHA): An area defined on a Flood Insurance Rate Map with an associated risk of flooding 79c7fb41ad
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