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Definition of Bank draft
A draft addressed to a bank.
A guaranteed form of payment which is issued in amounts over $5,000.
Money owed to the bank in a cheque account where payments exceed receipts.
Currency, coin, and funds on deposit that are available for immediate withdrawal without
A guaranteed form of payment which is issued in amounts over $5,000 (also see bank draft).
A bank machine, sometimes referred to as an automated teller machine (ATM).
A form of organization commonly used by foreign banks to enter the U.S. market. An agency
Notes issued by states and municipalities to obtain interim financing for
Money in a bank cheque account, the difference between receipts and payments.
The time that elapses between when a check is deposited into a bank account and when the funds are available to the depositor, during which period the bank is collecting payment from the payer's bank.
A convention used for quoting bids and offers for treasury bills in terms of annualized
An international bank headquartered in Basel, Switzerland, which
Line of credit granted by a bank to a customer.
The process of taking the balances from the bank statement and the general ledger and making adjustments so that they agree.
A comparison between the cash position recorded on a company’s
A computer message system linking major banks. It is used not for effecting payments, but as a
A short-term credit investment created by a non-financial firm and guaranteed by a
A bill of exchange, or draft, drawn by the borrower for payment on a specified date, and accepted by a chartered bank. Upon acceptance, the bill becomes, in effect, a postdated certified cheque.
State of being unable to pay debts. Thus, the ownership of the firm's assets is transferred from
The reorganization or liquidation of a firm that cannot pay its debts.
Bankruptcy cost view
The argument that expected indirect and direct bankruptcy costs offset the other
The risk that a firm will be unable to meet its debt obligations. Also referred to as default or insolvency risk.
The argument that expected bankruptcy costs preclude firms from being financed entirely
A public agency responsible for regulating and controlling an economy's monetary and financial institutions. It is the sole money-issuing authority.
Clearing House Interbank Payments System (CHIPS)
An international wire transfer system for high-value
A privately owned, profit-seeking firm that accepts deposits and makes loans.
Demand for payment.
System whereby customers make payments to a regional collection center which transfers funds to
A merchant banking subsidiary set up by several banks that may or may not be of the
An unconventional order in writing - signed by a person, usually the exporter, and addressed to the
Eligible bankers' acceptances
In the BA market, an acceptance may be referred to as eligible because it is
A bank that regularly accepts foreign currency denominated deposits and makes foreign currency loans.
Export-Import Bank (Ex-Im Bank)
The U.S. federal government agency that extends trade credits to U.S.
Federal Financing Bank
A federal institution that lends to a wide array of federal credit agencies funds it
Federal Home Loan Banks
The institutions that regulate and lend to savings and loan associations. The
Federal Reserve Banks
The twelve district banks in the Federal Reserve System.
Foreign banking market
That portion of domestic bank loans supplied to foreigners for use abroad.
Fractional Reserve Banking
A banking system in which banks hold only a fraction of their outstanding deposits in cash or on deposit with the central bank.
International Bank for Reconstruction and Development - IBRD or World Bank
International bank for Reconstruction and Development makes loans at nearly conventional terms to countries for projects of high
International Banking Facility (IBF)
International banking Facility. A branch that an American bank
Financial intermediaries who perform a variety of services, including aiding in the sale of
Middleman between a corporation issuing new securities and the public. The middleman buys the securities issue outright and then resells it to customers. Also called an underwriter.
A legal proceeding for liquidating or reorganizing a business.
A British term for a bank that specializes not in lending out its own funds, but in providing
A financial institution that engages in investment banking functions, such as advising clients in mergers and acquisitions, underwriting securities and taking debt or equity positions.
Money center banks
banks that raise most of their funds from the domestic and international money markets, relying less on depositors for funds.
The amount by which a check or other payments exceeds the funds on deposits.
Is an agreement with the bank or Financial Institution to cover overdrafts. This service will typically involve a fee and be limited to a pre-set maximum amount.
A short-term source of credit which allows you to overdraw on your account up to a pre-established limit. For example, overdraft protection spares customers both the cost and the personal embarrassment of NSF cheques. Overdraft protection is attached to your PCF Chequing Account.
System whereby a depositor may write cheques in excess of the balance, with the bank automatically extending a loan to cover the shortage.
Payable through drafts
A method of making payment that is used to maintain control over payments made
Personal Overdraft Facility
A loan facility on a customers account at a financial institution allowing the customer to overdraw up to a certain agreed limit for an agreed period.
PIBOR (Paris Interbank Offer Rate)
The deposit rate on interbank transactions in the Eurocurrency market
A bankruptcy in which a debtor and its creditors pre-negotiate a plan or
Demand for immediate payment.
Society for Worldwide Interbank Financial Telecommunications (SWIFT)
A dedicated computer network to support funds transfer messages internationally between over 900 member banks worldwide.
Demand for payment at a stated future date.
A draft addressed to a commercial enterprise. See:draft.
Wholesale mortgage banking
The purchasing of loans originated by others, with the servicing rights
A multilateral development finance agency created by the 1944 Bretton Woods, New
The International bank for Reconstruction and Development, an international organization that provides long-term loans to developing countries to improve their infrastructure.
Amounts due and payable by the business within a period of 12 months, e.g. bank overdraft, creditors and accruals.
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