Banking Test and Flashcards

Forfaiting

In trade finance, forfaiting is a financial transaction involving the purchase of receivables from exporters by a forfaiter.

Money changer

A money changer is a person or organisation whose business is the exchange of coins or currency of one country, for that of another.

Giro

A giro (/ˈdʒaɪəroʊ/, /ˈdʒɪroʊ/, /ˈʒɪroʊ/, /ˈdʒɪəroʊ/, or /ˈʒɪəroʊ/), or giro transfer, is a payment transfer from one bank account to another bank account and instigated by the payer, not the payee.

OTP Bank

OTP Bank Group is one of the largest independent financial services providers in Central and Eastern Europe with full range of banking services for private individuals and corporate clients.

Fractional-reserve banking

Fractional-reserve banking is the practice whereby a bank accepts deposits, makes loans or investments, and holds reserves that are equivalent to a fraction of its deposit liabilities.

Lender of last resort

The term lender of last resort (LOLR) originates from the French expression dernier ressort.

Federal funds rate

In the United States, the federal funds rate is the interest rate at which depository institutions (banks and credit unions) lend reserve balances to other depository institutions overnight, on an uncollateralized basis.

High-yield debt

In finance, a high-yield bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade.

Syndicated loan

A syndicated loan is one that is provided by a group of lenders and is structured, arranged, and administered by one or several commercial banks or investment banks known as lead arrangers.

Credit score

A credit score is a numerical expression based on a level analysis of a person's credit files, to represent the creditworthiness of the person.

UBS

UBS AG is a Swiss global financial services company, incorporated in the Canton of Zurich, and co-headquartered in Zurich and Basel.

Credit bureau

A credit bureau is a collection agency that gathers account information from various creditors and provides that information to a consumer reporting agency in the United States, a credit reference agency in the United Kingdom, a credit reporting body in Australia, and a credit information company (CIC) in India.

Money multiplier

In monetary economics, a money multiplier is one of various closely related ratios of commercial bank money to central bank money under a fractional-reserve banking system.

Bank secrecy

Bank secrecy (or bank privacy) is a legal requirement in some jurisdictions which prohibits banks providing to authorities personal and account information about their customers, except in certain conditions, such as if a criminal complaint has been filed.

Stored-value card

A stored-value card is a payments card with a monetary value stored on the card itself, not in an external account maintained by a financial institution.

Overdraft

An overdraft occurs when money is withdrawn from a bank account and the available balance goes below zero.

BankTrack

BankTrack is a global network of non-governmental organizations cooperating in the field of private banks and sustainability.

Bank tax

A bank tax ("bank levy") is a tax on banks.

International Bank of Azerbaijan-Georgia

The International Bank of Azerbaijan-Georgia ("IBA-Georgia" for short) is a subsidiary bank of the International Bank of Azerbaijan located in Tbilisi, Georgia, founded in 2007.

NIB Bank

NIB Bank is one of the largest foreign banks in Pakistan.

Asset-based lending

Asset-based lending is any kind of lending secured by an asset.

Hypothec

Hypothec (/hʌɪˈpɒθɪk/ or /ˈhʌɪpɒθɪk/; 16th century, from Fr. hypothèque, from Lat. hypotheca, from Gk. ὐποθήκη: hypothēkē), sometimes tacit hypothec, is a term used in mixed legal systems (e.g. Scots law, South African law, Ukrainian law (Ukrainian: Іпотека)) to refer to an express or implied non-possessory real security over corporeal movable property.

Mount of piety

A mount of piety is an institutional pawnbroker run as a charity in Europe from the Late Middle Ages times till today, more often referred to by the relevant local term, such as monte di pietà (Italian), mont de piété (French) or monte de piedad (Spanish).

Octopus: Sam Israel, the Secret Market, and Wall Street's Wildest Con

Octopus: Sam Israel, the Secret Market, and Wall Street's Wildest Con is a 2012 non-fiction book by the Canadian author and journalist Guy Lawson.

Overnight rate

The overnight rate is generally the interest rate that large banks use to borrow and lend from one another in the overnight market.

CreditorWatch

CreditorWatch is an Australian credit reporting agency that manages the credit files of all commercial businesses in Australia.

Nemea Bank

Nemea Bank is a pan-European direct bank, providing banking and investment services to individuals, businesses, institutions and high net worth individuals based in the 31 countries of the European Economic Area (EEA).

Cheque

A cheque (or check in American English) is a document that orders a bank to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued.

Compound interest

The addition of interest to the principal sum of a loan or deposit is called compounding.

Century Bank

Founded in Somerville in 1969 by Marshall M.

Flashcards: Banking