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Definition of Bank
Money in a bank cheque account, the difference between receipts and payments.
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
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
A draft addressed to a bank.
Line of credit granted by a bank to a customer.
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
An international bank headquartered in Basel, Switzerland, which
State of being unable to pay debts. Thus, the ownership of the firm's assets is transferred from
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
An international wire transfer system for high-value
A merchant banking subsidiary set up by several banks that may or may not be of 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
Foreign banking market
That portion of domestic bank loans supplied to foreigners for use abroad.
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
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
Money center banks
banks that raise most of their funds from the domestic and international money markets, relying less on depositors for funds.
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
Society for Worldwide Interbank Financial Telecommunications (SWIFT)
A dedicated computer network to support funds transfer messages internationally between over 900 member banks worldwide.
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
Money owed to the bank in a cheque account where payments exceed receipts.
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 companyâ€™s
The reorganization or liquidation of a firm that cannot pay its debts.
System whereby customers make payments to a regional collection center which transfers funds to
A public agency responsible for regulating and controlling an economy's monetary and financial institutions. It is the sole money-issuing authority.
A privately owned, profit-seeking firm that accepts deposits and makes loans.
Federal Reserve Banks
The twelve district banks in the Federal Reserve System.
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.
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.
The International bank for Reconstruction and Development, an international organization that provides long-term loans to developing countries to improve their infrastructure.
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.
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.
ABM (automated banking machine)
A bank machine, sometimes referred to as an automated teller machine (ATM).
A guaranteed form of payment which is issued in amounts over $5,000.
Rule in bankruptcy proceedings whereby senior creditors are required to be paid in full
American Depositary Receipts (ADRs)
Certificates issued by a U.S. depositary bank, representing foreign
Automated Clearing House (ACH)
A collection of 32 regional electronic interbank networks used to
The restricting of liability holders from collection efforts of collateral seizure, which is
An intercompany loan channeled through a bank.
A plan by U.S. Treasury Secretary James Baker under which 15 principal middle-income debtor
In the words of Warren Buffet, Bill Bane Sr., is, "a great American and one of the last real traders
A banker or trader's positions.
The Treasury and federal agencies are moving to a book-entry system in which securities are not represented by engraved pieces of paper but are maintained in computerized records at the
The large clearing banks that dominate deposit taking and short-term lending in the domestic
A bank term loan that calls for no amortization.
Call money rate
Also called the broker loan rate , the interest rate that banks charge brokers to finance
Agency banks established by Canadian banks in the U.S.
Capital market imperfections view
The view that issuing debt is generally valuable but that the firm's
The value of assets that can be converted into cash immediately, as reported by a company. Usually
Cash and equivalents
The value of assets that can be converted into cash immediately, as reported by a
Temporary investments of currently excess cash in short-term, high-quality
Certificate of deposit (CD)
Also called a time deposit, this is a certificate issued by a bank or thrift that
Communication barrier between financiers (investment bankers) and traders. This barrier is
Clearing House Automated Payments System (CHAPS)
A computerized clearing system for sterling funds
A bank that ranks just below a lead manager in a syndicated Eurocredit or international bond
The risk that a foreign debtor will be unable to pay its debts because of business events,
A fee paid to a commercial bank in return for its legal commitment to lend funds that have
An excess balance that is left in a bank to provide indirect compensation for loans
Conditional sales contracts
Similar to equipment trust certificates except that the lender is either the
Corporate processing float
The time that elapses between receipt of payment from a customer and the
The ability of the bankruptcy court to confirm a plan of reorganization over the objections of
Overnight, collateralized loan made to a dealer financing his position by borrowing from a
IOUs created through loan-type transactions - commercial paper, bank CDs, bills, bonds, and
A set of transactions (also called a debt-equity swap) in which a firm buys a country's dollar bank
Debtor in possession
A firm that is continuing to operate under Chapter 11 bankruptcy process.
New debt obtained by a firm during the Chapter 11 bankruptcy process.
Delivery versus payment
A transaction in which the buyer's payment for securities is due at the time of
Demand line of credit
A bank line of credit that enables a customer to borrow on a daily or on-demand basis.
Depository transfer check (DTC)
Check made out directly by a local bank to a particular firm or person.
A decrease in book cash but no immediate change in bank cash, generated by checks
The interest rate that the Federal Reserve charges a bank to borrow funds when a bank is
Facility provided by the Fed enabling member banks to borrow reserves against collateral
Documented discount notes
Commercial paper backed by normal bank lines plus a letter of credit from a
Specialized banking institutions, authorized and chartered by the Federal Reserve Board
An agreement permitting a bank customer to borrow either domestic dollars from the
In the interbank Eurodollar deposit market, an either-way market is one in which the bid
Electronic depository transfers
The transfer of funds between bank accounts through the Automated
CDs issued by a U.S. bank branch or foreign bank located outside the U.S. Almost all Euro CDs
Lines of credit granted by banks (foreign or foreign branches of U.S. banks) for Eurocurrencies.
One of two principal clearing systems in the Eurobond market. It began operations in 1968, is
Intermediate-term loans of Eurocurrencies made by banking syndicates to corporate and
A short-term fixed rate time deposit denominated in a currency other than the local
The money market for borrowing and lending currencies that are held in the form of
This is an American dollar that has been deposited in a European bank or an U.S. bank branch
A set of requirements for a plan of reorganization to be approved by the bankruptcy court.
Foreign Credit Insurance Association. A private U.S. consortium of insurance companies that offers
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