🎰 Glossary of Banking Terms from Bank of America

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Glossary of Banking Terms from Bank of America
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Glossary of Banking Terms from Bank of America The Bank of America banking glossary helps you find the definitions to common banking terms.
Find the answers you want in the glossary of banking terms.
Account balance The amount of money in an account at the start of the business day, including all deposits and withdrawals posted the previous night, whether or not the funds have been collected.
Account statement A printed or online statement of all the transactions that occur on your account during a statement go here />Active account An open bank account in slots coin bank transactions can be made; usually an account that has had activity within the last 3 years.
Affinity debit card A debit card issued in affiliation with a participating organization for example, a charity or sports team.
Affinity debit cards have all the same benefits as standard Bank of America debit cards and are available with eligible checking accounts.
Annual percentage yield APY The total amount of interest paid by the bank on your deposit accountsavings, CDs, IRAs during the year.
Includes interest paid on the amount held in the account as well as compounded interest for the year.
Automated Clearing House ACH A nationwide funds transfer network that enables participating financial institutions to electronically credit, debit and settle entries to bank accounts.
Automatic funds transfer An arrangement that automatically moves funds from your account to another internal or external account on a date you choose; for example, every payday.
Automatic payment An arrangement that automatically deducts funds from your account usually a on the day you choose in order to pay a recurring bill for example, a car loan payment or a mortgage payment.
Average daily balance The sum of all the daily account balances during an accounting period usually a monthly statement cycle divided by the number of days in the same period.
May be used to determine whether bank term deposits definition monthly maintenance fee applies or whether your account qualifies for special services or discounts.
Bounced check A check that is returned to the depositor because there are not sufficient funds to pay the amount of the check.
Canceled check A check that has been paid.
A canceled check is usually acceptable as legal proof of payment.
Cashier’s check A check issued by a bank and paid from its funds.
A cashier's check will not usually bounce because the amount it is written for is paid to the bank when it is issued, and the bank then assumes the obligation.
Certificate of Deposit CD A time deposit that is payable at the end of a specified amount of time or "term.
Terms can range from 7 days to 10 years.
CDs are insured by the FDIC up to applicable limits.
If early withdrawal from the CD prior to the end of the term is permitted, a penalty is usually assessed.
Checking account A type of deposit account that enables customers to deposit funds and withdraw available funds on demand, typically by writing a go here or using a debit card.
These are sometimes interest-bearing accounts.
Check image A service that provides images of canceled checks.
Each account statement includes images of checks up to 10 per page that posted to the account during the statement cycle.
You can view and print copies of the front and back of checks posted within the last 12 months by signing on to Online Banking.
You can also request copies of checks by visiting your nearest Bank of America banking center, or by calling the customer service number on your statement.
The images are subsequently transmitted for deposit.
Check safekeeping A service where the bank keeps a copy or digital image of all checks written against your account for 7 years instead of returning them with the account statement.
You can view photocopies of canceled checks posted within the last 12 months by signing in to Online Banking or visiting your nearest Bank of America financial center.
Collected balance The balance in a deposit account, not including items that have not yet been paid, or collected.
Combined balance The total funds you have in all of your linked deposit accounts, such as savings, checking and CDs.
For somethe combined balance determines whether the monthly maintenance fee can be avoided.
Compound interest Interest that is calculated on both the accumulated interest and the principal balance in the account.
The more frequently interest is compounded, the higher the effective yield.
Credit The increase in see more deposit account balance that occurs when a deposit is made to the account.
Credit card A plastic card issued by a bank or other financial company for the purpose of purchasing goods and services using credit.
In most cases, a credit limit is established for each account.
Custodial account An account created for the benefit of a minor a person under the age of 18 or 21 depending on state law with an adult as the account's custodian.
Debit card A plastic card that deducts money from a designated checking account to pay for goods or services.
It can be used anywhere Visa ® or MasterCard ® debit cards are accepted and no interest is charged.
A debit card can also be used at ATMs to withdraw cash.
Deposited Item Returned Fee or Cashed Item Returned Fee A fee we charge each time a check or other item that we either cashed for you or accepted for deposit to your account is returned to us unpaid.
Digital wallet You can use the credit and debit cards stored in your digital wallet to make purchases at participating merchants.
Direct deposit A service that automatically transfers recurring deposits into your checking or savings account.
Deposits can include salary, pension, Social Security and Supplemental Security Income SSI benefits, or other regular monthly income.
Electronic funds transfer EFT Any transfer of funds initiated by electronic means from an electronic terminal, telephone, computer, ATM or magnetic tape.
Emergency cash A service provided by Visa to Bank of America personal debit card customers.
In the case of emergency theft, etc.
The chip encrypts information to increase data security when making transactions at terminals or ATMs that are chip-enabled.
This fee was in addition to any applicable fees for overdraft items, insufficient funds and returned items.
Federal Deposit Insurance Corporation FDIC The FDIC is an independent agency of the United States government that protects people who have funds on deposit with FDIC-insured banks and savings associations against the loss of their insured deposits if their bank or savings association fails.
FDIC insurance is backed by the full faith and credit of the United States government.
Float The time between the date when a check is deposited to an account and the date the funds become available.
Inactive account A bank account in which there have not been any transactions excluding direct deposit for an extended period of time.
In some cases, when there has been no activity in the account within a period specified by state law generally at least 3 yearsthe law requires the bank to turn funds in the account over to the state as unclaimed property.
Interest rate The percentage of interest paid on an interest-bearing account, such as savings, CDs and some checking accounts; also, the percentage charged on a loan or line of credit.
Different types of accounts and loans pay or charge different rates of interest.
IRA An Individual Retirement Account IRA is an account that provides either a tax-deferred or tax-free way for you to save for retirement.
There are many different types of IRAs but Roth, Traditional and Rollover IRAs are the most common.
Within an IRA, some people invest in mutual funds or stocks, while others may choose bank products such as CDs and money market savings accounts.
Each IRA has certain eligibility requirements and unique features.
Linked account Any account linked to another account at the same financial institution deposit money at that funds can be transferred electronically between accounts.
In some cases, the combined balance of all linked accounts may determine whether monthly maintenance and other fees are money at the bank 2019 to the account.
Maturity date The date that a CD term ends, the bank stops paying the agreed-upon interest and you can choose to take the money deposited or renew the term.
Minimum daily balance The lowest end-of-day balance in an account during a statement cycle; a certain minimum daily balance is often required with interest-bearing accounts to avoid a monthly maintenance fee or qualify for special services.
Mobile wallet A mobile wallet, which is a type of digital wallet, stores your physical credit and debit cards in your mobile device as virtual cards, allowing you to make purchases at participating merchants.
Money order A financial instrument, issued by a bank or other institution, allowing the individual named on the order to receive a specified amount of cash on demand.
Often used by people who do not have checking accounts.
Monthly maintenance fee The fee charged to maintain a particular account, such as a checking or savings account.
Bank of America offers many options to help avoid the monthly maintenance fees on checking and.
Non-bank ATM An ATM or cash machine that provides ATM cardholders with access to their accounts, but is owned and operated by an independent bank or financial institution.
Online Banking A service that allows an account holder to obtain account information and manage certain banking transactions via personal computer or mobile device.
Original interest rate The interest rate assigned when a CD account is opened.
The original interest rate is listed on your CD account receipt and statement.
Overdraft An overdraft occurs when a bank makes a payment that has been requested such as a checkeven though there are not enough funds available in the account to cover it.
This type of payment is known as an overdraft and the account is said to have been overdrawn.
See also Bank term deposits definition Item or NSF: Returned Item An overdraft item is when you do not have enough available funds in your account to cover an item and we authorize and pay the item and overdraw your account.
An NSF:Returned item is when we decline and return the item unpaid.
See your and for additional information.
Overdraft protection Overdraft Protection links your eligible Bank of America checking account to another Bank of America account such as savings, credit card, eligible second checking account or line of credit and automatically transfers available funds to cover purchases and prevent returned checks and declined items when you don't have enough money in your checking account.
You can apply for overdraft protection by visiting a financial center or calling 800.
Overdraft Protection Transfer Fee An overdraft protection transfer fee occurs whenever funds must be transferred to cover a transaction that overdraws your eligible checking account.
When a debit clears that exceeds the funds available in your eligible account, money will be transferred from the eligible linked Overdraft Protection account.
We reserve the right to require you to pay overdrafts immediately.
See your for additional information.
Personal identification number PIN The unique number you must use to access your account at an ATM or make a purchase with a debit card.
Your PIN should always be kept confidential.
Regulation E Regulation E carries out the purposes of the Electronic Fund Transfer Act, which establishes the basic rights, liabilities and responsibilities of consumers who use electronic fund transfer services and of financial institutions that offer these services.
The primary objective of the act bank term deposits definition Regulation E is the protection of individual consumers engaging in electronic fund transfers.
Returned item When you do not have enough available funds in your account to cover an item and we decline to pay and return the item unpaid, we will charge a NSF:Returned Item Fee for each returned item.
View your and for additional information.
Savings account A deposit account that generally earns higher interest than a checking account and limits you to no more than a total of 6 automatic or preauthorized transfers, telephone transfers or payments including check, draft and point-of-sale transactions, if checks or debit cards are allowed on the account from a savings account each monthly statement cycle.
Simple interest The interest calculated only on the principal funds that have been deposited in the account; no interest is earned on interest that has already been earned on the principal.
Standard Setting The Standard Overdraft Setting is automatically applied to new consumer accounts excluding SafeBalance Banking® accounts, which are automatically set to the Decline All setting.
With the Standard Setting: ATM withdrawals and everyday, non-recurring debit card transactions individual debit card purchases such as at the grocery store or a one-time online purchasewill only be authorized when we determine you have enough available funds in your eligible account or in your eligible linked Overdraft Protection account at the time of the transaction.
Otherwise, we typically decline the transaction and we do not charge an Overdraft Item fee.
For other types of transactions, such as checks, Bill Pay and other electronic payments, as well as recurring debit card payments we may pay transactions when you don't have enough available funds in your checking account or linked Overdraft Protection account at the time of the transaction.
If we pay a transaction that's larger than your available balance and it overdraws your account, this typically results in a charge for each overdraft item, unless you deposit enough available funds that day to cover the overdraft.
If we return the item unpaid, this typically results in a NSF: Returned item fee.
Stop payment A request bank term deposits definition the bank not pay a check or payment you have written or authorized.
Stop-payment orders are generally placed for checks that have been lost or stolen, or in situations where a purchase is disputed.
Stop payment orders generally expire after 6 months and a fee is usually charged for this service.
Time deposit An agreement to deposit a stated amount in the bank for a fixed length of time during which a fixed rate of interest will be paid unless disclosed as a variable rate.
Penalties are typically assessed if the funds are withdrawn before the end of the agreed-upon period.
While an unlimited number of withdrawals may be made at ATMs and teller windows, fees may apply.
Please view your and for additional information.
Uncollected funds Items deposited in an account that have not yet been collected by the bank on which they were drawn.
Variable rate An interest rate that may fluctuate during the term of a loan, bank term deposits definition of credit or deposit account.
Rates may adjust due to changes in an index rate such as the prime rate ; in some situations, the bank may set its own rate.
Virtual card A virtual card is the digital form of your physical credit card and has a unique card number that's stored within a digital wallet.
Wire transfer An electronic payment service for transferring funds for example, through the Federal Reserve Wire Network or the Clearing House Interbank Payments System.
Zero Liability Protection If your credit or debit card is lost or stolen, and you report the loss promptly, you may not be responsible for fraudulent purchases made with your card.
There is no charge for the Zero Liability Protection program and it is available on all Bank of America consumer credit cards, debit cards, and Home Equity line of credit access cards.
Claims opinion bank slots tera pity only be filed against posted and settled transactions subject to dollar limits and subsequent verification, including providing all requested information supporting fraudulent use claim.
For debit card transactions, claims must be reported within 60 days of the statement.
Select Your State Please tell us where you bank so we can give you accurate rate and fee information for your location.
State Selection Form Current State Apple and Apple Pay are trademarks of Apple Inc.
Google Pay and the Google Pay Logo are trademarks of Google LLC.
Mastercard is a registered trademark, and Masterpass and the circles design are trademarks of Mastercard International Incorporated and are used by the issuer pursuant to license.
Advertising Practices We strive to provide you with information about products and services you might find interesting and useful.
Relationship-based ads and online behavioral advertising help us do that.
Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit.
This information may be used to deliver advertising on our Bank term deposits definition and offline for example, by phone, email and direct mail that's customized to meet specific interests you may have.
If you prefer that we do not use this information, you may.
If you opt out, though, you may still receive generic advertising.
Also, if you opt out of online behavioral advertising, you may still see ads when you sign in to your account, for example through Online Banking or MyMerrill.
These ads are based on your specific account relationships with us.
To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review the and our.
Bank of America and the Bank of America logo are registered trademarks of the Bank of America Corporation.
Bank of America, N.
© 2019 Bank of America Corporation.
Advertising Practices We strive to provide you with information about products and services you might find interesting and useful.
Relationship-based ads and online behavioral advertising help us do that.
Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit.
This information may be used to deliver advertising on our Sites and offline for example, by phone, email and direct mail that's customized to meet specific interests you may have.
If you prefer that we do not use this information, you may.
If you opt out, though, you may still receive generic advertising.
Also, if you opt out of online behavioral advertising, you may still see ads when you sign in to your account, for example through Online Banking or MyMerrill.
These ads are based on your specific account bank term deposits definition with us.
To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review the and our.
La información que se encuentra a continuación está disponible sólo en inglés en la actualidad.
Las solicitudes y los documentos asociados con productos y servicios específicos podrían estar disponibles sólo en inglés.
Antes de escoger un producto, por favor asegúrese de haber leído y entendido todos los términos y condiciones provistas.
Seleccione Continuar en inglés para obtener más información.
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Demand deposits can be on a checking or a savings account, and withdrawals can be made either from an ATM or from the bank’s cashier. Unlike term deposits, which require a predetermined period to pass by before allowing the depositor to make a withdrawal, demand deposits allow withdraws up to a certain daily limit.


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High Interest Term Deposits - UBank
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RBA rate cut to all new and existing variable rate home loan customers, effective from June 28 th 2019.
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When you invest funds in a UBank Green Term Deposit, NAB will hold at least an equal amount in a pool of lending for projects and assets eligible for certification under the Climate Bonds Standard.
This includes lending for wind and solar energy, low carbon transport and low carbon buildings.
UBank Green Term Deposits are certified by the Climate Bonds Initiative CBI.
With our Green Term Deposit, your savings will be matched to a portfolio of renewable energy projects like wind and solar energy and low carbon buildings.
Institution 1 month 2 months 3 months 4 months 5 months 6 months 7 months 8 months 9 months 10 months 11 months 12 months U BANK standard rate 1.
The standard interest rate for our 12-months Term Deposit with interest paid monthly is 2.
Information accurate as at 17 June 2019.
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Financial data provided by Canstar Research Pty.
AFSL and Australian Credit Licence 437917.
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Deposit definition, to place for safekeeping or in trust, especially in a bank account: He deposited his paycheck every Friday. See more.


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What It Means to Deposit a Check
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Term Deposit Definition
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Term deposits. Multiply your money. Terms deposits are the most familiar type of investments paying interest. They are a savings product from a bank, credit union or building society. Your money is invested for a fixed term and you get a fixed rate of interest over that term.


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Term Deposit financial definition of Term Deposit
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A Banker's Glossary ABO See accumulated benefit obligation.
ABS 1 Initials for asset-backed security.
ABS expresses principal prepayments as a percentage of the original number of loans or contracts in the pool of securitized loans that created the security.
ABS is always expressed as a monthly rate.
Absorption A term used by real estate lenders and developers to describe the process of renting up newly built or renovated office space or apartments.
The term "absorption period" is often used to describe the period of time necessary for absorption.
Abstract of title A written report summarizing the history of title transactions and conditions of title that affect a given piece of land covering the period from the present back to a date in the past.
A comprehensive, but cumbersome, and somewhat obsolete, method of verifying the ownership and encumbrances of a parcel, or parcels, of real estate.
Accelerated depreciation A group of methods for achieving periodic reductions in the book value of fixed assets that make larger reductions in the early periods and progressively smaller reductions in later periods.
The offsetting entry is the depreciation expense.
Acceleration Making demand for payment in full for a debt that has not yet matured.
Usually a remedy provided in a loan document for the lender to use in the event of default by the borrower.
Acceleration clause A provision in a loan document stating that the entire amount of unpaid indebtedness owed to the lender may become immediately due and payable if the borrower defaults.
Acceptance A time draft that has been accepted for payment.
Accessions Goods that are physically united with other goods in such a manner that the identity of the original goods is not lost.
An example is a new motor in a piece of equipment.
Accommodation maker Name used to refer to a co-maker who agrees to sign a note to induce the lender to make a loan, but who receives no direct benefit from the loan.
Account analysis An analysis performed to determine the profitability of each demand account to the bank.
The analysis may also be used to determine the profitability of a group of demand accounts with the same owner.
Account analysis is normally performed by the bank, but can be done by anyone in the depositor's organization provided sufficient information is available.
The analysis identifies the net earnings based on the average daily ledger balance less reserved requirements and float.
The net earnings can then be compared with the various activity service charges based on the volume of transactions and the per item price of the services.
Account control agreement An agreement perfecting a creditor's interest in a securities account while allowing the securities to remain registered in the name of the owner.
An account control agreement is used to establish a security interest conforming to the requirements set forth in the UCC.
Account debtor An individual or business that is obligated to pay on an account, chattel paper, contract right, or general intangible.
Account reconciliation services A cash management service.
One or more of a series of bank services designed to aid a deposit customer in the reconciliation of its bank account balance.
A basic account reconciliation service may simply be a listing of paid checks in serial number order.
More advanced account reconciliation services combine electronic data provided by the customer with the bank's records to reconcile completely the account and list all outstanding items.
Also called account recs, ARPs, or recons.
Accounts A category of personal property defined by Article 9 of the UCC.
Under the pre-2000 version of Article 9, an account is a right to receive payment for goods sold or leased, or for services rendered, where these rights are not evidenced by an instrument or by chattel paper.
Under the revised Article 9, the definition of accounts is much broader.
The revised definition covers a much wider variety of payment obligations, whether or not earned by performance, including license fees payable 2019 banking bonus the use of software, credit card receivables, and healthcare insurance receivables.
Accounts payable A category of liabilities that represents funds due to creditors.
Usually, accounts payable is due to trade creditors who have supplied goods or services without requiring immediate payment.
Accounts payable is sometimes simply called payables.
Accounts payable to trade creditors are sometimes called accounts payable trade, due to trade, or trade payables.
Accounts receivable An asset account that reflects amounts due from private persons or organizations for goods and services furnished.
For corporations, accounts receivable excludes funds due from departments, but may include funds due from affiliates.
For governments and nonprofit organizations using fund accounting, it does not include funds due from other funds owned by the same entity.
A category of personal property defined by Article 9 of the UCC.
Accounts receivable is the right to receive payment for goods sold or leased or for services rendered where those rights are not evidenced by an instrument or by chattel paper.
Accounts receivable - trade Also called trade receivables.
Amounts due from the credit sales of goods or services that are not evidenced by promissory notes.
Accreting swap An interest rate swap with an increasing notional amount.
Accretion The process of making incremental, periodic increases in the book or carrying value of an asset.
For example, when a bond is purchased at a price below 100, the difference between the purchase price and https://games-money-spin.website/bank/coin-bank-slots.html par value, the discount, is accreted.
Discounts are usually accreted in roughly equal amounts that completely eliminate the discount by the time that the bond has matured, or by the call date, if applicable.
Accretion bond See Z tranche.
Accrual basis See accrual convention.
Accrual bond 1 Bonds that pay the investor an above-market coupon rate as long as a reference rate is between preset levels established at the time the security is issued.
A type of structured note.
Also called range bonds.
Instead, periodic interest for these bonds is accrued.
It is added to the principal amount due to the holder at a later date.
Accrual convention Method used by investors for counting the tigers glory of days in each month and in the year.
Also called accrual basis or day basis.
The accrual convention is expressed in different ways.
The accrual convention is used in the calculation of the amount of interest payable on bonds, loans, deposits, and other financial instruments on the interest payment dates.
This convention is also used for the purpose of calculating accrued interest due from a buyer to a seller of a security sold between interest payment dates.
Accrued interest Interest that has been earned but not yet paid.
For example, the interest earned by a bondholder between semiannual coupon payments or the interest earned by a lender since the last monthly interest payment was collected from the borrower.
Accrued interest for investment securities is calculated from the issue date or the last payment date up to but not including the settlement date.
When a buyer purchases a bond, the buyer owes the seller the accrued interest in addition to the market price of the security purchased.
Accumulated benefit obligation ABO The actuarial present value of the pension benefits earned to date.
Measurement of the accumulated benefit obligation uses the historical compensation rates for pay-related benefit plans.
The ABO must be disclosed in a footnote to the financial statements.
Accumulated depreciation The total of the periodic reductions for depreciation in fixed assets.
Also called allowance for depreciation.
Accumulator See capital appreciation bond.
ACH See automated clearinghouse.
Acid test ratio Another name for the quick ratio.
Active tranche A REMIC tranche that is currently paying principal payments to its owners.
Actual delay days See delay days.
Adjustable-rate mortgage ARM A loan for which the interest rate coupon rate is adjusted periodically to reflect changes in a previously selected index rate.
Adjusted duration See option-adjusted duration.
Adjusted trading A practice used to sell securities without recognizing any or all of the true loss from that sale.
However, from the investor's perspective, the transactions effectively defer the recognition of losses on the security sold by establishing an excessively high book value for the security purchased.
These transactions are specifically prohibited for federally insured financial institutions.
They may also be illegal.
Sometimes called fee trading.
Administered rates Interest rates that the bank or other payer is contractually permitted to change at any time and by any amount.
For example, the rates paid on savings accounts.
All interest rates can be categorized as either fixed, administered, or floating.
Rates that may change at the payer's discretion are sometimes called variable rates, easily confused with floating rates, which change at contractually specified times by contractually specified amounts - a very different arrangement.
Administrative float Float resulting from the time it takes to administratively process checks or other related paperwork.
Total elapsed time for processing checks can range from less than a day to more than a week.
Note that its basic elements are present whether the work is done by the owner of the funds or the work is done by a bank or other lockbox vendor.
Sometimes referred to as payment processing float or internal float, but since some of the sources of the float delay are not necessarily internal, the term internal float is not a completely accurate synonym.
Administrative review One of two types of real estate appraisal reviews.
Administrative reviews focus primarily on bank term deposits definition underwriting issues addressed in the appraisal.
These reviews, usually performed by the loan officer, approach the appraisal from a loan underwriting point of view.
Typical issues addressed in an administrative review include: How comparable are the comparable properties used in the appraisal?
How reasonable are income and expense projections?
Is the capitalization rate appropriate?
ADR See American depository receipt.
Advance formula A provision sometimes used in lines of credit as a sublimit on the maximum amount that can be borrowed.
Typically, an advance formula limits the amount that can be borrowed under a line of credit to the lesser of the amount of the line or some percent of accounts receivable collateral.
Advanced Measurement Approaches AMA One of three methods for quantifying capital required for operational risk under proposed Basel II capital rules.
Banks using the Advanced Measurement Approaches must hold capital for operational risk based on a risk quantity generated by the bank's internal measurement procedures.
The most common internal methods are self-assessments.
See also self-assessment, Standardized Approach, basic indicator approach and operations risk.
Advances Funds received for goods or services prior to the delivery of the goods or services.
Typically, the funds must be returned if the transaction is canceled or if the recipient of the advance fails to provide the goods or services.
Adverse opinion An opinion letter accompanying audited financial statements in which the CPA reports that the financial statements do not fairly present the financial position or the results of operations in conformity with GAAP.
Affiliate A business organization that shares some aspect of common ownership or control with another business organization.
Affinity card A card that is offered jointly by two organizations.
One is a credit card issuer and the other is a professional association, special interest group or other non-bank company.
For example, Citibank and American Airlines sponsor the Citibank AAdvantage card.
Affirmative covenant A provision in the lender's documents that requires the borrower to do something in the future.
For example, a requirement for the borrower to provide annual audited financial statements to the bank during the term of the loan.
Affordable growth rate The maximum rate at which a firm's sales can grow without straining the capacity of the firm's capital or other financial resources.
This term is closely associated with a formula of the same name.
AFMLS Asset Forfeiture and Money Laundering Here, U.
After-acquired property clause A provision in a bank's documents, the purpose of which is to extend the bank's interest in the debtor's property to property not owned by the debtor at the time of the transaction but subsequently acquired by the debtor.
Agencies Informal name used to refer to securities issued by agencies of the United States government and by U.
The agency fund also is used to report the assets and liabilities of Internal Revenue Code, Section 457, deferred bank of america first deposit plans.
Aging A report or schedule of all outstanding accounts payable or accounts receivable that lists all account debtors or creditors by name, shows the total amount due to each debtor, and shows how much of the amount due to each debtor is due within specific time periods.
AHP An acronym for affordable housing program.
AICPA See American Institute of Certified Public Accountants.
Initials for "also known as".
A designation used to denote bitcoin cash bank deposit alternative name for a person, business or organization.
ALLL An acronym for allowance for loan and lease losses.
Allonge A paper attached to negotiable instruments for signatures when there isn't enough room on the instruments themselves for the signatures.
Allowance for depreciation See accumulated depreciation.
Allowance for doubtful accounts A reserve for accounts receivable that may not be collectable.
The allowance is always shown as a reduction from gross receivables used to calculate net receivables.
An example of a contra-asset account.
Allowances Reductions to gross sales that occur when customers https://games-money-spin.website/bank/bank-bonus-blog.html given partial credit for sold goods that the buyer is not satisfied with.
An accounting term usually used together with returns.
ALT-A A classification used to describe residential mortgage loans that are considered to be slightly less risky than "subprime" loans.
Common in parts of the USA during the 2000-2007 boom.
Alternative minimum tax AMT A federal income tax applied to individuals and corporations that take advantage of tax benefits in amounts that are large relative to their incomes.
Investors subject to AMT lose the benefits of the tax exemption for interest paid on otherwise tax-exempt securities.
AMA See Advanced Measurement Approaches.
Amendment A revision to a document.
A UCC financing statement can be amended by filing a designated amendment form, usually UCC-3.
American depository receipt ADR Trust receipts equal to a specific number of shares of corporate stock issued in a foreign country.
ADRs are sold and traded in the United States.
American Institute of Certified Public Accountants AICPA The national association that represents certified public accountants in business and industry, public practice, government, and education.
American option or American-style option An option that the holder can exercise any time prior to and including the expiration date.
See European option, Bermuda option and Asian option.
Amortization 1 The process of making regular, periodic decreases in the book or carrying value of an asset.
For example, when a bond is purchased at a price above 100, the difference between the purchase price and the par value, the premium, is amortized.
Premiums are usually amortized in roughly equal amounts that completely eliminate the premium by the time that the bond has matured or by the call date, if applicable.
The principal amount of loans is amortized by the periodic, usually monthly, payment uk bank deposits in a fraction of the principal calculated to repay the entire amount of principal due by the date of the last scheduled periodic payment.
Amortization methods differ based upon the type of loan.
Mortgage loans bank term deposits definition securities usually have level payments of principal and interest.
For such amortizations, the interest consumes most of the early payments and, therefore, principal amortization increases as the loan ages.
Many business loans use a level amortization with roughly equal principal reductions from each periodic payment.
Amortization period For financial instruments, the time from the inception of a loan or investment instrument with scheduled principal repayments to the due date of the final contractually obligated principal repayment.
For fixed assets, the period from the acquisition of a fixed asset to the date of the last periodic reduction made to reflect depreciation of the book value of that asset.
Assets may be depreciated until the book value is zero, but sometimes are only depreciated until the book value is reduced to an assumed salvage value.
Amortizing swap An interest rate swap with a declining notional principal.
AMT See alternative minimum tax.
Analytical solution See closed form solution.
Analytical VAR See correlation VAR.
Annual percentage rate APR The total financing costs associated with a loan on an annualized basis, divided by the amount borrowed.
As defined by Federal Reserve Regulation Z and the Truth-in-Lending Act, this is a precisely calculated measure of the cost of a loan.
The Truth-in-Lending Act and Regulation Z have specific requirements covering both how to calculate and how to disclose APRs.
Annual percentage yield APY A precisely calculated measure of yield paid on a bank deposit account.
Annuities Contracts that guarantee income, often for an individual's lifetime, in exchange for a lump sum or periodic payment.
Annuity contracts have a number of standard variants, including deferred, fixed, immediate, or variable.
Anticipated income doctrine of liquidity 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.
Accordingly, to the extent that loans are written with payment terms and maturities that reflect the borrower's cash flow stream, the cash flow to the bank from loan principal payments is the source of bank liquidity.
See commercial loan theory of liquidity and shiftability theory of liquidity.
Anticipatory hedge A hedge of a yet-to-be-acquired asset or liability.
Appraisal A statement or estimate of the market value of tangible personal property or real estate.
Under the federal appraisal regulations for real estate pledged to secure loans, the term "appraisal" refers to a statement of market value that meets the five specific standards.
See complete appraisal, evaluation, and limited appraisal.
Appraisal surplus The difference between the historical cost and the appraised value of fixed assets.
APR See annual percentage rate.
APY See annual percentage yield.
Arbitrage 1 In theory, arbitrage is the simultaneous purchase and sale of two identical commodities or instruments to take advantage of price variations in different markets.
For example, the purchase of gold in London and the simultaneous sale of gold in New York.
For example, the purchase of two-year Treasuries and the sale of futures contracts for an equivalent amount.
Arbitrage CDO A CDO whose purpose is to allow a money manager to expand assets under management and equity investors to achieve non-recourse leverage to CDO assets.
There is no "arbitrage" in the classic sense of the word.
Rather, equity holders hope to capture the difference between the after-default yield on the assets and the financing cost due debt tranches.
See collateralized debt obligation CDO.
Arbitrage free A type of financial model that generates market scenarios excluding scenarios that provide arbitrage opportunities.
Arbitrageur An individual or broker who engages in arbitrage.
ARM See adjustable-rate mortgage.
ARP See account reconciliation services Arrears Unpaid bank deposit codes or bond interest that a corporation owes its stockholders or bond holders after the payable or due date on which the dividends or interest should have been paid.
Article 2A Portion of the UCC covering leases.
See Uniform Commercial Code.
Article 8 Portion of the UCC covering collateral interests in both physical certificated and book-entry uncertificated securities.
See Uniform Commercial Code.
Article 9 Portion of the UCC covering security interest in most personal property other than securities.
See Uniform Commercial Code.
Article bank term deposits definition agreement Contractual arrangement used in some states under which a buyer purchases real estate from a seller over a period of time, usually by making periodic installment payments.
Title is not conveyed to the buyer until the final payment is made.
Also called land contract.
Asian option An option whose payoff is based upon the average value of an underlying over a specified period of time.
Also see American option, European option and Bermuda option.
As-extracted collateral Oil, gas, or other minerals that are subject to a security interest that is created by a debtor having an interest in the minerals either before or after extraction.
A security interest can also include accounts arising out of the sale at the wellhead or minehead of oil, gas, or other minerals in which the debtor had an interest before extraction.
A category of personal property collateral defined by the 2000 revisions to Article 9 of the UCC.
Ascending rate bonds Securities with a coupon rate that increases in previously defined increments at scheduled intervals.
Asked or asking price The trading price proposed by the prospective seller of securities.
Also called the offer or offered price.
Asset-backed security ABS A debt security collateralized by assets.
Created from the securitization of any loans.
CDOs are sometimes defined to be a subset of ABSs.
ABSs may be structured in a variety of ways including simple "pass through" structures and complex, "multi-tranche" structures.
The value that ABSs provide to investors is comprised of the cash flows due to the ABS holders from the underlying loans.
ABS issues are typically structured so that the bankruptcy or insolvency of an underlying borrower does not impact the cash flow received by the security owner.
See special purpose vehicle and waterfall.
Asset sensitive Describes an entity's position when an increase in interest rates will help the entity and a decrease in interest rates will hurt the entity.
An entity is asset sensitive when the impact of the change in its assets is larger than the impact of the change in its liabilities after a change in prevailing interest rates.
This occurs when either the timing or the amount of the rate changes for liabilities causes interest expense to change by more than the change in interest income.
The impact of a change in prevailing interest rates may be measured in terms of the change in the value of assets and liabilities.
In that case, an asset-sensitive entity's economic value of equity increases when prevailing rates rise or declines when prevailing rates fall.
Alternatively, the impact of a change in prevailing rates may be measured in terms of the change in the interest income and expense for assets and liabilities.
In that case, an asset-sensitive entity's earnings or net income increases when prevailing rates rise and declines when prevailing rates fall.
In a financial institution, the ALCO is usually responsible for asset and liability distribution, asset and liability pricing, balance sheet size, funding, spread management, and interest rate sensitivity management.
Usually used somewhat redundantly, as in ALCO committee.
The process of balancing the management of separate types of financial risk to achieve desired objectives while operating within predetermined, prudent risk limits.
Accomplishing that task requires coordinated management of assets, liabilities, capital, and off-balance sheet positions.
Therefore, in the broadest sense of the term, ALM is simply the harmonious management of cash, loans, investments, fixed assets, deposits, short-term borrowings, long-term borrowings, capital, and off-balance sheet commitments.
However, in practice, the term is often used to refer to segments of that broader definition such as only interest rate risk management or only interest rate and liquidity risk management.
See earnings at risk, market value at risk and market value of portfolio equity.
Assets repriced before liabilities A measure of the gap between the quantity of assets repricing and the quantity of liabilities repricing within a given period of time.
A simple measure of a financial institution's exposure to beneficial or adverse consequences from changes in prevailing interest rates.
Assignee The party to whom an assignment is made.
Assignment Transfer of any contractual agreement between two parties.
One of the parties, the assignor, transfers its rights or obligations to another party, the assignee.
If interests in assets of the assignor are assigned, the assignment transfers all or some of the rights of ownership to the assignee.
If interests in obligations of the assignor are assigned, the assignor is totally or partially absolved from further performance.
Lenders sometimes see leased property assigned from the original lessor to another party who then pledges them to the bank as collateral for a loan.
For personal property collateral, a secured party may enter an assignment of its security interest into the public record by using a standard form called UCC-3.
Assignment of buyer's interest in land contract A document used when a borrower is purchasing real estate over time under an article of agreement or land contract.
The document assigns the lender all of the borrower's personal property, real property, and contractual rights under the land contract.
Assignment of lease and rentals A document used in real estate loans when the mortgaged property is leased to third-party tenants.
If the borrower defaults, the assignment of lease and rentals gives the lender the right to receive rents from the tenants and to transfer the leases to a subsequent purchaser of the property.
Assignment of seller's interest in land contract A document used in real estate loans when the mortgaged property is subject to a land contract or article of agreement under which it is being sold over time to a third party.
If the borrower defaults, the assignment of the land contract gives the lender the right to receive payments from the buyer and to transfer the land contract to another buyer.
Association of Financial Professionals A national organization for finance professionals that provides educational, and certifications programs, research programs, standards development, and government relations activities.
Assumable As applied to mortgage loans, assumable means that a borrower who sells his or her home may transfer the outstanding mortgage loan secured by that dwelling to the new buyers.
The new buyers are said to assume the loan.
Assumed name Name used by a proprietorship, partnership, or corporation to conduct business that is different from the legal name of the proprietorship, partnership or corporation.
Asymmetric behavior Unbalanced behavior exhibited by financial instruments, the rates or values of which do not change in proportion to changes in market rates.
For example, increases in the prime rate quickly reflect most or all of increases in prevailing interest rates, while decreases in the prime rate are slow to reflect decreases in prevailing interest rates.
ATM See Automated Teller Machine.
At the money The situation in which the current market price, the spot price, of an underlying instrument is equal to the strike or exercise price deposited banking definition an option to buy bank term deposits definition sell that instrument.
Attachment A procedure established by Article 9 of the UCC.
Creditors must comply with this procedure in order to obtain a security interest in property owned by a debtor.
Alternatively or in addition, the process may be used to give the creditor a security interest in property owned by a guarantor or by another third party.
Often, attachment alone is not sufficient to establish the priority of the creditor's interest relative to the interests of other creditors.
See financing statements and perfection.
Attorney's certificate of title See title opinion.
Attrition analysis Evaluation of the reduction in the amount of an asset or liability held.
For example, an analysis of the reduction in savings account balances caused by withdrawals over time.
Audited statements The most reliable type of financial statements.
The audit is based on information submitted by the client, and the CPA does not verify all of the information.
Limits on the scope of the audit and on the CPA's responsibility are described in the opinion letter that accompanies the audited statements.
However, the value of an audited statement is that the independent CPA is responsible for testing and verifying any numbers that seem questionable or unusual as well as the most material financial information.
For example, if bank term deposits definition firm has a material amount of accounts receivable, the auditor will typically confirm at least a sample of those accounts.
If a firm has a material amount of inventory, the auditor will typically perform a physical verification of that inventory.
Authenticated security bank term deposits definition A electronic security agreement between the debtor and the bank that is accepted by the borrower either by downloading the agreement into a personal database or by printing a copy.
As an alternative to a security agreement physically signed by the debtor, the 2000 amendments to the UCC provide for an authenticated security agreement.
Authority A government or public agency created to perform a single function or a restricted group of related activities.
Usually, such units are financed from service charges, fees, and tolls, but in some instances they also have taxing powers.
An authority may be completely independent of or partially dependent upon other governments for its financing or the exercise of certain powers.
Automated clearinghouse ACH The ACH network is a nationwide electronic funds transfer system for participating depository financial institutions.
The American Clearing House Association, Electronic Payments Network, Federal Reserve and Visa act as ACH Operators, central clearing facilities through which financial institutions transmit or receive ACH debits and credits.
The ACH network serves 20,000 financial institutions, 3 million businesses, and 100 million individuals.
The ACH Network is commonly used for direct deposit of payroll and government benefits such as Social Security, direct payment of consumer bills, business-to-business payments, federal tax payments, and, increasingly, e-commerce payments.
In 2000 there were 6.
Automated Teller Machine ATM A computer terminal for user initiated banking transactions.
Automatic stay An injunction that automatically becomes effective upon the filing of any bankruptcy proceeding.
The stay precludes creditors from taking action against the debtor or the debtor's property.
In Chapter 12 or 13 bankruptcy proceedings, the automatic stay also applies to co-obligors and guarantors.
Availability The condition in which deposited funds are available for use by the depositor.
The time lag between the date of a deposit and the date it is credited to the collected balance.
Availability schedule A schedule that determines when each bank in the check-clearing process will receive credit and when the depositor of checks will be able to withdraw or invest the funds.
The schedule sets a standard time period since each check cannot be individually traced through the check-clearing process.
Every major bank publishes its availability schedule based on its location and on the location of the bank on which the check is drawn.
Available balance The balance in an account that can be invested or withdrawn.
Available balance refers to the bank ledger balances less checks in the process of collection.
Also called collected balances, good funds, or usable funds.
Available-for-sale AFS One of three defined categories established in FAS 115 for the classification of financial instruments held as assets on the books of an investor.
Available-for-sale, or AFS, securities are securities that the investor is unable or unwilling to commit to hold to maturity.
Designation of a security as AFS does not mean that the investor plans to sell it prior to maturity.
FAS 115 requires investors to report unrealized gains or losses in AFS securities as changes in reported equity.
See FAS 115, held-to-maturity, and trading.
Average life The time-weighed for a stream of principal cash flows.
See weighted average life.
Average daily balance The average daily balance is a method used to calculate finance charges.
It is calculated by adding the outstanding balance on each day in the billing period, and dividing that total by the number of days in the billing period.
The calculation includes new purchases and payments.

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Deposit definition is - to place especially for safekeeping or as a pledge; especially, economics : to put in a bank. How to use deposit in a sentence.


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Glossary of Banking Terms from Bank of America
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Glossary of Banking Terms from Bank of America
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bank term deposits definition

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No account-keeping fees apply to AMP Bank’s Term Deposits. Instead you will earn interest paid at interims you select or on maturity, depending on the term you choose for your term deposit. You may open as many term deposits as you like each with a different term or invested amount.


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Bank Deposit | Definition of Bank Deposit by Merriam-Webster
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A at a or https://games-money-spin.website/bank/bank-slots-tera.html that has a fixed return usually via an and a set.
One of the most common examples of a term deposit is a.
It is also called a time deposit.
Want to thank TFD for its existence?
Link to this page: Term Bank term deposits definition MANILA, Philippines The yield of seven-day term deposits eased for the sixth straight week, falling below three percent since June as banks continued to swarm the weekly term deposit auction facility TDF.
On October 20, 2016, the Federal Reserve will conduct a floating-rate offering of term deposits with an early withdrawal feature through its TDF.
The Bangko Sentral ng Pilipinas BSP has jacked up to P70 billion the total volume of term deposits to be offered in August, as banks once again swamped the fully awarded auction Wednesday.
Additionally, the remaining 88% of the deposits that were blocked will be converted into three equal new fixed term deposits with a term of 6,9 and 12 months respectively within Bank of Cyprus with a higher interest rate.
Lawrence Agcaoili The Philippine Star - January 11, 2018 - 12:00am MANILA, Philippines The yield of the seven-day term deposits eased anew as liquidity continues to return to the financial system after the Christmas season.
The report reveals that consumer outcomes on rollovers of term deposits have improved by billions of dollars.
MANILA, Philippines Intitutional investors flocked the auction for the seven-day term deposits yesterday, prompting the Bangko Sentral ng Pilipinas BSP to consider restoring the 28-day paper as soon as the liquidity level in the financial system normalizes after the Christmas season.
The Kolkata-headquartered United Bank of India has announced that the entity has enlarged its rates on domestic term deposits for less than Rs 5 crore by 25 basis points 0.
MANILA, Philippines Banks swarmed yesterday the term deposit auction facility TDF as the Bangko Sentral ng Pilipinas BSP continued to offer only this web page term deposits due to the holiday season.
On Wednesday, the State Bank of India Bank term deposits definition has announced that it has decided to hack interest rates on term deposits by 0.
MANILA, Philippines The yield of the seven-day term deposits slipped yesterday as the Bangko Sentral ng Pilipinas BSP decided to drop the offering of the longer-dated instrument due to tight market conditions.
This information should not bank term deposits definition considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.

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After the period has ended, you can choose to reinvest a portion or all of the funds at the interest rate stated by your bank, or you can withdraw the funds. Term deposits are widely considered to.


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Deposit | Definition of Deposit by Merriam-Webster
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Also, while the phrase 'term deposit' is in common usage in countries like Australia, Canada and New Zealand, term deposits are also known as certificates of deposit in the United States, as fixed rate bonds in the United Kingdom, time deposits in Japan and China and as fixed deposits in India. Related Rates


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Bank Deposit | Definition of Bank Deposit by Merriam-Webster
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What It Means to Deposit a Check
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Term Deposit Facility. Term deposits facilitate the implementation of monetary policy by providing an additional tool by which the Federal Reserve can manage the aggregate quantity of reserve balances held by depository institutions.


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Deposit | Definition of Deposit by Merriam-Webster
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Deposit | Definition of Deposit by Merriam-Webster
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What Is The Meaning Of Term Deposit?

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Define bank. bank synonyms, bank pronunciation, bank translation, English dictionary definition of bank. n. 1. A piled-up mass, as of snow or clouds; a heap: a bank of thunderclouds. 2.


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Term Deposit financial definition of Term Deposit
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Term Deposits financial definition of Term Deposits
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The term deposit often applies to financial transactions, but it is also used elsewhere.
There are two primary ways to use the word deposit: When banks and refer to deposits, they are simply talking about your money held at the bank.
As a noun, a deposit is something that has been placed somewhere.
That might be money that you put into your bank account or jewelry in at the bank.
The "deposit" is the result of some action that a person or thing took to make the deposit.
Some common financial examples are below.
At credit unions, deposits arewhich is just as safe as FDIC insurance.
If I damage the property or disappear without paying rent, the landlord will keep my deposit.
When used as a verb, the term deposit can also refer to the act of putting something somewhere.
In the banking world, this happens when you add money to your accounts.
Again, it can also apply to any other situation where somebody or something leaves something behind.
In the first example above, you deposit cash into your account.
For added convenience, you can also do so at some.
Typically, you need to use a branch bank term deposits definition ATM that your bank term deposits definition owns, but credit union members can often use other credit unions to make deposits—if both credit unions participate in.
Ask your bank which address to use for the fastest service, and find out about any other requirements.
That sheet of paper tells bank term deposits definition bank where to put the money and makes a record of the transaction.
You'll also need to by signing the back and adding any additional information required.
If using an when the ATM bank term deposits definition equipped with scanning technology that captures an america swift code bofaus3n of your check.
bonus 2019 banking the ATM instructions carefully—some ATMs still use deposit slips.
In some cases, the money is before traditional bank term deposits definition click arrive in the mail.
Doing so saves you the work of taking a withdrawal from one account or writing a check simply to deposit into another.
If your bank usesthose deposits may be available more or less immediately.
Note that you may have to wait to use bank deposit method of proof money after you make a deposit.
Depending on how you add funds to your account, your bank may impose a waiting period to ensure bank term deposits definition there are no problems with the deposit.
The bank term deposits definition is longest withbut government-issued checks and wire transfers into your account are available much more quickly.

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Personal Term Deposits . Information and interest rates are current as at the date of publication and are subject to change. Personal Term Deposits require a minimum opening deposit of $10,000. The interest rates that apply to Personal Term Deposits are the interest rates that are current on the date the term deposit is opened. Savings Maximiser


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Bank Deposit | Definition of Bank Deposit by Merriam-Webster
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Term Deposit financial definition of Term Deposit
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Term deposits are a type of account whereby the bank pays a fixed rate of interest, and in return, the funds are locked up for a specified period.


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Term Deposits financial definition of Term Deposits
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Term Deposit Definition
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Fixed Deposit Explain in Hindi

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MANILA, Philippines The yield of seven-day term deposits eased for the sixth straight week, falling below three percent since June as banks continued to swarm the weekly term deposit auction facility (TDF).


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Deposit | Definition of Deposit by Merriam-Webster
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A at a or other that has a fixed return usually via an and a set.
One bank term deposits definition the most common examples of a term deposit is a.
It is also bank term deposits definition a time deposit.
Want to thank TFD for its existence?
Link to this page: Term Deposit MANILA, Philippines The yield of seven-day term deposits eased for the sixth straight week, falling below three percent since June as banks continued to swarm the weekly term deposit auction facility TDF.
On October 20, 2016, the Federal Reserve will conduct a floating-rate offering of term deposits with an early withdrawal feature through its TDF.
The Bangko Sentral ng Pilipinas BSP has jacked up to P70 billion the total volume of term deposits to be offered in August, as banks once again swamped the fully awarded auction Wednesday.
Additionally, the remaining 88% of the deposits that were blocked will be converted into three equal new fixed term deposits with a term of 6,9 and 12 months respectively within Bank of Cyprus with a higher interest bank term deposits definition />Lawrence Agcaoili The Philippine Star - January 11, 2018 - 12:00am MANILA, Philippines The yield of the seven-day term deposits eased anew as liquidity continues to return to the financial system after the Christmas season.
The report reveals that consumer outcomes on rollovers of term deposits have improved by billions of dollars.
MANILA, Philippines Intitutional investors flocked the auction for the seven-day term deposits yesterday, prompting the Go here Sentral ng Pilipinas BSP to consider restoring the 28-day paper as soon as the liquidity level in the financial system normalizes after the Christmas season.
The Kolkata-headquartered United Bank of India has announced that the entity has enlarged its rates on domestic term deposits for less than Rs 5 crore by click the following article basis points 0.
MANILA, Philippines Banks bank term deposits definition yesterday the term deposit auction facility TDF as the Bangko Sentral ng Pilipinas BSP continued to offer only short-dated term deposits due to the holiday season.
On Wednesday, the State Bank of India SBI has announced that it has decided to hack interest rates on term bank term deposits definition by 0.
MANILA, Philippines The yield of the seven-day term deposits slipped yesterday as the Bangko Sentral ng Pilipinas BSP decided to drop the offering of the longer-dated instrument due to tight market conditions.
This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.

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The bank has a lien on cheques deposited to the customer's account, to the extent that the customer is indebted to the bank. The bank must not disclose details of transactions through the customer's account – unless the customer consents, there is a public duty to disclose, the bank's interests require it, or the law demands it.


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Please deposit your things in your room and return to the hotel lobby.
The taxi deposited us at the train station.
Noun Our records show that she made a large deposit to in bank money some the account earlier in the month.
If you return that empty soda can, you'll get back the five-cent deposit you paid when you bought the soda.
The rental car company requires a deposit for drivers under the age of 25.
See More Recent Examples on the Web: Verb Microblading is a common and increasingly popular cosmetic procedure in which a fine pen is used to deposit pigment directly under the skin, creating brow hair-like strokes for fuller-looking arches.
See More What It Is In the finance world, a deposit is the placement of funds in an account with a bank or other financial institution.
Many people also use the term to refer to a refundable down payment made to ensure that a future transaction occurs.
How It Works In the banking world, there are two general types of deposits: and.
Demand deposits are the placement of funds into an account that allows the depositor to withdraw his or her funds from the account without warning or with less than seven days' notice.
Checking accounts are demand deposits.
They allow the depositor to withdraw funds at any time, and bank term deposits definition is no limit to the number of transactions a depositor can have on these accounts although this does not mean that the bank cannot charge a fee for each transaction.
A time deposit is an interest-bearing deposit held by a bank or financial institution for a check this out term whereby the depositor can withdraw the funds only after giving notice.
Time deposits generally refer to accounts or certificates of deposit, and banks and financial institutions usually require 30 days' notice for withdrawal of these deposits.
Individuals and companies often consider time deposits as "cash" or readily available funds even though they are technically not payable on demand.
The notice requirement also means that banks may assess a penalty for withdrawal before a specified date.
Time deposits may pay higher interest rates than demand deposits.
Why It Matters Demand deposits at commercial banks are part of the M1 money supply calculated by the Federal Reserve.
The Federal Reserve currently does not place on deposits andbut the amount of demand deposits an institution has often dictates all or part of the reserves it must keep on hand either in vault cash or apologise, bank bonus blog seems deposit with the Federal Reserve; the more dollars an institution has in demand deposits, the more dollars it must keep in reserves.
Source: What It Is A time deposit is an interest-bearing bank term deposits definition by a bank or financial institution for a fixed term whereby the depositor can only withdraw the funds after giving notice.
How It Works Time deposits generally refer to accounts or certificates of deposit, and banks and financial institutions usually require 30 days notice for withdrawal of these deposits.
Why It Matters Individuals and companies often consider time deposits as cash, or readily available funds, even though they are technically not payable on demand.
The notice requirement also means that banks may assess a penalty for withdrawal before a specified date.
Time deposits may pay higher interest rates than such as checking or money market accounts, which allow withdrawals at any time.
The Federal Reserve currently does not place on deposits and.
Source: : to leave an amount of something, such as sand, snow, or mud on a surface or area especially over a period of time : money that you pay when you buy or rent something and that you can get back if you return the thing or leave it in good condition 2 : to give as a pledge that a purchase will be made or a service used He deposited ten dollars on a new bicycle.
Please tell us where you read or heard it including the quote, if bank term deposits definition />Need even more bank term deposits definition />Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!

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Definition of bank of first deposit (BOFD): The bank in which a check is originally deposited to an account. If the check is drawn on the bank in which...


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Bank Deposit | Definition of Bank Deposit by Merriam-Webster
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Term Deposits financial definition of Term Deposits
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A term deposit is a fixed-term investment that includes the deposit of money into an account at a financial institution.
Term deposit investments usually carry short-term maturities ranging from one month to a few years and will have varying levels of required minimum deposits.
The investor must understand when buying a term deposit that they can withdraw their funds only after the term ends.
In some cases, the account holder may allow the investor early termination—or withdrawal—if they give several days notification.
Also, there will be a penalty assessed for early termination.
When an account holder deposits funds at a bank, the bank can use that money to lend to other consumers or businesses.
In return for the right to use these funds for lending, they will pay the depositor compensation in bank term deposits definition form of interest on the account balance.
With most deposit accounts of this nature, the owner may withdraw their money at any time.
This makes it difficult for the bank to know ahead of time how much they may lend at any given time.
To overcome this problem banks offer term deposit accounts.
A customer will deposit, or invest, in one of these accounts agreeing not to withdraw their funds for a fixed period in return for a higher rate of interest paid on the account.
The interest earned on bank term deposits definition term deposit account is slightly higher than that paid on standard savings or interest-bearing checking accounts.
The increased rate is because access to the money is limited go here the timeframe of the term deposit.
Term deposits are an extremely safe investment and are therefore very appealing to conservative, low-risk investors.
The financial instruments are sold by banks, thrift institutions, and.
Term deposits sold by banks are insured by the FDIC.
The NCUA provides coverage for those sold by credit unions.
How a Bank uses a Term Deposit If a customer places money in a term deposit, the bank can invest the money in other financial products that pay a higher RoR than what the bank is paying the customer for the use of their funds.
The bank can also lend the money out to its other clients thereby receiving a higher interest rate from the borrowers as compared to what the bank is paying in interest for the term deposit.
For bank term deposits definition, a lender may offer a 2% rate for term deposits with a two-year maturity.
The funds deposited are then structured as loans to borrowers who are charged 7% in interest on those notes.
This difference in rates means that the bank makes a net 5% return.
The spread between the rate the bank pays bank term deposits definition customers for deposits and the rate it charges its borrowers is called.
Net interest margin is a profitability metric for banks.
Banks are businesses, as such, they want to pay the lowest rate possible for term deposits and charge a much higher rate to borrowers for loans.
This practice increases their margins or profitability.
However, there is a balance the bank needs to maintain.
If it pays too little interest, it won't attract new investors into the term deposit accounts.
Also, if they charge too high of a rate on loans, it won't attract new borrowers.
In periods of rising interest rates, consumers are more likely to purchase term deposits since the increased cost of borrowing makes savings more attractive.
Also, with higher market interest rates, the financial institution will need to offer the investor a higher rate of interest, so the investor also earns more.
When interest rates decrease, consumers are encouraged to borrow and spend more, thereby, stimulating the economy.
In a low-interest rate environment, demand for term deposits can decrease since investors can typically find alternative investment vehicles that pay a higher rate.
Typically, interest rates should be proportional to the time until maturity and the minimum amount of principle lent to the credit union or bank.
In other words, a six-month term deposit will likely pay a bank term deposits definition interest rate than a two-year term deposit.
Investors not only receive a higher rate for locking up their money with the bank for extended periods, but also should earn a higher rate for large deposits.
Term deposits are also called certificates of deposits.
Customers can view the conditions of the term deposit via a paper statement.
This statement includes the required minimum principal amount, the interest rate paid, and the duration, or time to maturity, as agreed by the bank and the depositor.
If a customer wants to close a term deposit before the end of the term, or maturity, the customer will be subject to a penalty.
This penalty may include the loss of any interest paid on the deposit account until that point.
Closing the CD before the term ends lets the customer take back the principal amount invested but with the forfeiture of the earned interest.
The penalty for withdrawing prematurely or against the agreement is stated at the time of opening a term deposit, as required by the.
Sometimes, if interest rates have risen considerably, it might be worth it for a customer to close the term deposit early, take the penalty for the early withdrawal, and reinvest the funds elsewhere at a higher rate.
read more important to be sure that the alternative rate is high enough to more than compensate for the original rate on the term deposit plus the cost of the penalty.
When a term deposit is nearing its maturity date, the bank holding the deposit will usually send a letter notifying the customer of the upcoming maturity.
In the letter, the bank will ask if the customer wants the deposit renewed again for the same length to maturity.
The rollover will likely be at a different rate based on the market interest rate at that time.
Alternatively, the customer has the option of placing the funds in another financial product.
Investors holding retirement CDs should speak to a financial planner or tax advisor who can explain the different regulations involved in early withdrawal from these investments.
Inflation and Term Deposits Unfortunately, term deposits do not keep up with inflation.
The is a measure of how much prices rise in a given year.
If the rate on a term deposit is 2% and the inflation rate in the U.
Rather than investing a large lump sum into one term deposit, an investor may use a strategy that spreads out the funds between several CDs.
This strategy for investing using term deposits is to distribute an investment evenly over a set number of years with maturities coming at regular intervals.
This locks in the interest rates with the CDs at longer terms having higher rates than those with shorter terms.
As the CDs mature, the customer can choose to use the money for income by withdrawing the funds or roll those funds into another CD to continue the ladder.
The method allows the investor to have access to funds as they mature.
In each year one of the CDs matures, the customer can withdraw the money for expenses or roll the funds into a new account.
The new term deposit will have a rate based on the current market rate.
This method is popular for retirees who need a set amount of income each year that they need to withdraw from their savings to pay for living expenses.
The strategy can be used while investing with the same credit union or bank, or across several different institutions.
The investor can either withdraw the principal and interest upon maturity or reinvest the funds if they are not needed.
Wells Method bank of proof deposit Bank is one of the largest consumer banks in the U.
Below are a few of the bank's CDs along with the interest rates paid to depositors as of.
Please note that the interest rates being offered by the bank can change anytime for new CDs and might be different depending on the state in which the branch is located.
The offers that appear bank inthe wwe money this table are from partnerships from which Investopedia receives compensation.
A time deposit is an interest-bearing more info deposit account that has a specified date of maturity, such as a certificate of deposit CD.
Jumbo CDs are types of savings accounts with higher balance requirements than traditional certificates of deposit and in return pay a higher interest rate.
A promotional certificate of deposit CD rate is a higher rate of return on a CD visit web page by banks and credit unions to attract new deposits.
A callable certificate of deposit is an FDIC insured certificate of deposit CD that contains a call feature similar to other types of callable fixed-income securities.
The money market is a segment of the financial market in which financial instruments with bank term deposits definition liquidity and very short maturities are traded.