Oregonians Credit Union Support

What is Issue Price?

The issue price is determined on the basis of the net asset value. See 'Net Asset...

Glossary

What is a Rating Distribution?

The distribution of investments over various rating classes....

Glossary

What is a Listing Code?

A unique code used to identify a particular security. For historic reasons, the s...

Glossary

What is a Federal Reserve Float?

Checkbook money that for a period of time appears on the books of both the payor ...

Glossary

What is the Gross National Product (GNP)?

Total value of goods and services produced in the economy....

Glossary

What is a Sector Breakdown?

The distribution of investments over different sectors....

Glossary

What is a Master Fund?

A fund that invests exclusively into another fund (a Feeder fund). See 'Feeder Fu...

Glossary

What is a SWIFT Code? What is Oregonians' SWIFT Code?

A SWIFT-BIC, BIC code, SWIFT ID or SWIFT code is a standard format of Bank Identi...

Glossary

What is Regulation D?

Transfers or withdrawals from a savings account without a signature are limited t...

Glossary

What does escheat mean?

Escheat occurs when a credit union or other financial institution holds funds in ...

Glossary

What is a trust account?

A trust, like a corporation, is a legal entity that exists only on paper but is l...

Glossary

What is Check 21?

Check Clearing for the 21st Century Act, or Check 21 was signed into law on Octob...

7 votes

Glossary

How does APY work?

The Annual Percentage Yield (APY) is the yield your deposit will earn over the co...

Glossary

What is Backup Tax Withholding?

Topic 307 - Backup Withholding. Banks and other businesses that pay you certain ...

Glossary

What is a "Bank Draft"?

A Bank Draft is a check drawn by a bank against funds deposited in another bank. ...

Glossary

What is a 1099?

A 1099 form is a tax form used by taxpayers and tax-exempt organizations to repor...

Glossary

What is NAFCU/PAC?

The National Association of Federal Credit Unions (NAFCU) is a respected and infl...

Glossary

What is an UGMA/UTMA account?

UGMA/UTMA is a tax efficient manner to save for college and transfer wealth to c...

Glossary

What is a Successor Trustee?

A Successor Trustee is the person or institution that takes over the management o...

Glossary

What is PMI?

Private Mortgage Insurance (PMI) is insurance that is purchased by a home buyer t...

Glossary

What is compound interest?

Compound interest is paid on the original principal and on the accumulated past i...

Glossary

What is a beneficiary?

A beneficiary or payable on death (POD) is the person(s) who takes ownership of f...

Glossary

What is a Broker-Dealer?

Any person, other than a bank, engaged in the business of buying or selling secur...

Glossary

What is a Power of Attorney (POA)?

A Power of Attorney or a POA is a legal document that gives another person legal ...

Glossary

What is risk based price lending?

Risked based lending it the practice of setting loan rates for individuals based ...

Glossary

What is a reconveyance and how long does it take?

A reconveyance is the official transfer of the property title after the mortgage ...

Glossary

What is the finance charge on my statement?

A finance charge is a fee charged for the use of credit or the extension of exist...

Glossary

What is Equity?

Equity is the interest or value which an owner has in real property over and abov...

Glossary

What are Reserve Requirements?

Reserves that must be held against customer deposits of banks and other depositor...

Glossary

What is an LLC?

LLC stands for Limited Liability Company. Because it is not a partnership or a co...

Glossary

What is a wire transfer?

Electronic transfer of funds usually involves large dollar payments....

Glossary

What is an Automated Clearinghouse (ACH)?

A computer-based clearing and settlement operation, often operated by a Federal R...

Glossary

What is a Regional Check Processing Center (RCPC)?

A Federal Reserve check processing operation that clears checks drawn on deposito...

Glossary

What is a Treasury note?

Intermediate-term security having a maturity of one to 10 years and issued in den...

Glossary

What is a Lender of Last Resort?

As the nation's central bank, the Federal Reserve has the authority and financial...

Glossary

What is a Management Fee?

Annual remuneration paid to the manager for managing the fund. The management fee...

Glossary

What is a Payments Mechanism?

Systems designed for the movement of funds, payments, and money between financial...

Glossary

What is a Valuation?

A written opinion of a property's value by a valuer....

Glossary

What is a Wraparound?

A financing device that permits an existing loan to be refinanced and new money t...

Glossary

What is a Yield?

1.) The return on a loan or investment, stated as a percentage of price. 2.) Cur...

Glossary

What is a Standard Deviation?

Volatility measures the riskiness of the fund and is the standard deviation of mo...

Glossary

What is Annual Percentage Yield Earned (APY Earned)?

An annualized rate that is calculated by taking the dividends earned for a statem...

Glossary

What is a Close of Financial Year?

The date on which ends a twelve month accounting period....

Glossary

What is the National Credit Union Administration (NCUA)?

The federal government agency that supervises, charters, and insures federal cred...

Glossary

What is a NAV?

The NAV of a fund unit corresponds to the market value of the fund on a given day...

Glossary

What is a Redemption Charge?

The fee that is charged to investors at the time of the sale of the fund units....

Glossary

What is OEIC?

This stands for ""Open-End-Investment-Company"" and is the corporate form, organi...

Glossary

What is a Credit Card?

Any card, plate, or coupon book that may be used repeatedly to borrow money or bu...

Glossary

What is an Incorporation/Registration?

Defines the fund domicile, the law by which the fund is regulated, the form of in...

Glossary

What is Currency Allocation?

The distribution of available funds for investments over various currencies....

Glossary

What is a TER?

This stands for ""Total expense ratio"" and is the annual operating cost of a fun...

Glossary

What is an Investment Advisor?

This is an organization employed to give professional advice on the fund's invest...

Glossary

What is an Exempted Security?

A security that is exempted from most provisions of the securities laws, includin...

Glossary

What is an Average Life?

Average life is a weighted average of the remaining time to maturity, in years, o...

Glossary

What is a Prospectus?

The official document compiled to describe a fund....

Glossary

What are Automated Teller Machines (ATMs)?

Computer-controlled terminals located on the premises of financial institutions o...

Glossary

What is a Sector Fund?

A fund that invests primarily in securities of a specific business sector. For ex...

Glossary

What is a Repurchase Agreement?

When the Federal Reserve makes a repurchase agreement with a government securitie...

Glossary

What is a Discount?

An amount deducted from the regular price for those who purchase with cash instea...

Glossary

What is a CSPB Rating?

The Credit Suisse Private Banking ""CSPB rating"" is based on a quantitative anal...

Glossary

What is a Payout Yield?

Payout yield represents the last dividend payment made as a percentage of the cur...

Glossary

What is a Bank for International Settlements (BIS)?

The BIS, located in Basle, Switzerland, was established in 1930 to administer the...

Glossary

What is a Forward Pricing?

International standard applied to the daily pricing of fund units. Using the forw...

Glossary

What is in a credit history?

A record of how a person has borrowed and repaid debts. A credit report indicates...

Glossary

What is WKN?

German securities identification code for a transactions in Germany....

Glossary

What is a Cosigner?

Another person who signs for a loan and assumes equal liability for it....

Glossary

What is a Finance Charge?

The total dollar amount paid to get credit....

Glossary

What is a Margin Stock?

Any stock listed on a national securities exchange, any over-the-counter security...

Glossary

What is a CUSIP?

United States security identification code for transactions in the USA. See 'Secu...

Glossary

What is a Non-Conforming loan?

A conventional loan that doesn't adhere to all of the guidelines set forth by the...

Glossary

What is a Valuation Point?

Time of the day when the market value of a fund is calculated based on the then p...

Glossary

What is a Launch Date?

Inception date of a fund. See 'Inception Date'....

Glossary

What is a SEDOL?

United Kingdom securities identification code for transactions in the UK....

Glossary

What is a Fund Currency?

The currency in which the fund's accounts are reported and in which the net asset...

Glossary

What is the National Association of Securities Dealers (NASD)?

A self-regulatory organization with jurisdiction over certain broker-dealers. The...

Glossary

What is Accounting Currency?

The currency in which the fund's accounts are reported and in which the net asset...

Glossary

What is a Vendor?

A person who offers a property for sale....

Glossary

What is an Edge Act Corporation?

An organization chartered by the Federal Reserve to engage in international banki...

Glossary

What is a Clearinghouse Interbank Payments System (CHIPS)?

An automated clearing system used primarily for international payments. This syst...

Glossary

What is the Securities and Exchange Commission (SEC)?

An independent agency of the U.S. government consisting of five members appointed...

Glossary

What are Value Days?

Number of days that pass until the transaction amount is either deducted or credi...

Glossary

What is a Currency Risk?

The potential for price fluctuations as a result of foreign exchange movements....

Glossary

What is a Fund Performance?

Total increase in value over a certain period of time, expressed as a percentage ...

Glossary

What is a Deposit Ceiling Rates of Interest?

Maximum interest rates that can be paid on savings and time deposits at federally...

Glossary

What is a rate ceiling?

The maximum allowable interest rate of an adjustable rate mortgage....

Glossary

What is a Credit History?

A record of how a person has borrowed and repaid debts....

Glossary

What is a Rescission?

Federal law that guarantees the consumer the right to cancel a mortgage for a per...

Glossary

What is a FRCS-80?

The communications network of the Federal Reserve which interconnects Federal Res...

Glossary

What is a Feeder Fund?

An institutional fund that feeds exclusively, or is allocated automatically, into...

Glossary

What is Dealing?

The times and frequency at which a fund may be bought and sold....

Glossary

What is a Small Saver Certificate?

A certificate of deposit with a minimum maturity of 2 1/2 years offered by banks ...

Glossary

What is an Average Yield to Maturity?

The yield to maturity (ytm) is an approximation for the return an investor would ...

Glossary

What is a CLO?

This stands for ""Collateralized Loan Obligation"" and is a bond backed by a pool...

Glossary

What is a Performance Fee?

Performance fees are tied to the performance of a fund. These fees act as an ince...

Glossary

What is Long-Term Care Planning?

Planning for the broad-range of maintenance and health services required for the ...

Glossary

What is Gross Income?

Total income before taxes or expenses are deducted....

Glossary

What is Education Planning?

The process of determining the amount of savings that is required to fund a child...

Glossary

What is a Maturity Distribution?

The distribution of the maturity dates of a fund's assets....

Glossary

What is a Security Number?

A unique code used to identify a particular security. For historic reasons, the s...

Glossary

What are the Fiscal Agency Services?

Services performed by the Federal Reserve Banks for the US government. These incl...

Glossary

What is a Settler?

An individual who establishes a trust. Synonymous with grantor, trustor....

Glossary

What is a Discount Rate?

The interest rate at which eligible depository institutions may borrow funds, usu...

Glossary

What is the trade-weighted value of the dollar?

The value of the dollar pegged to, or expressed relative to, a market basket of s...

Glossary

What is the Federal Reserve System?

The central bank of the United States created by Congress, consisting of a seven ...

Glossary

What is a Settlement Sheet?

The computation of costs payable at closing which determines the seller's net pro...

Glossary

What is a Security Interest?

The creditor's right to take property or a portion of property offered as securit...

Glossary

What is a Total Return?

Total increase in value over a certain period of time, expressed as a percentage ...

Glossary

What is a Treasury bond?

Long-term security having a maturity of 10 years or longer issued in denomination...

Glossary

What is a Manager?

A company that administers funds. The manager decides on investments on behalf of...

Glossary

What is a Sales Commission?

The fee that is charged to investors to purchase or sell units of a fund. See 'Pr...

Glossary

What is a Trade Deficit?

Refers to the amount by which merchandise imports exceed merchandise exports....

Glossary

What is a Maturity?

The date on which an issuer promises to repay the face value of a debt instrument...

Glossary

What is a Discount Window?

Figurative expression for Federal Reserve facility for extending credit directly ...

Glossary

What is an Electronic Fund Transfer Systems (EFTS)?

A variety of systems and technologies for transferring funds (money) electronical...

Glossary

What is Encumbrance?

A legal right or interest in a property that affects title and may lessen the pro...

Glossary

What is a Price?

The Net Asset Value of a fund unit corresponds to the market value of the fund on...

Glossary

What is a Money Stock?

MI - The sum of currency held by the public, plus travelers' checks, plus demand ...

Glossary

What is a Check Clearing?

The movement of checks from the banks or other depository institutions where they...

Glossary

What are Income Participating Shares (-A- shares)?

Income and/or capital gains are distributed, usually once a year....

Glossary

What is a Preliminary Charge?

Issuing charge levied to buy fund units....

Glossary

What is a Subfund?

Fund forming part of an umbrella fund. See 'Umbrella Fund'...

Glossary

What is Zoning?

Description of the allowable uses of land, as set out by local councils or planni...

Glossary

What is an International Banking Facility (IBF)?

In general, these facilities can accept time deposits from foreign customers free...

Glossary

What is an Asset Class?

An asset class is an investment instrument such as equity, bond, money market, co...

Glossary

What is the The Depository Institutions Deregulation and Monetary Control Act of 1980 (MCA)?

Among its major provisions, this Act applied uniform reserve requirements to all ...

Glossary

What is a Transaction Account?

A checking account or similar account from which transfers can be made to third p...

Glossary

What is a Book-Entry?

One form in which Treasury and certain government agency securities are held. Boo...

Glossary

What is a Bank Regulation?

The formulation and issuance by authorized agencies of specific rules or regulati...

Glossary

What is a Treasury bill (T-bill)?

Short-term U.S. Treasury security having a maturity of up to one year and issued ...

Glossary

What are Federal Reserve Notes?

Nearly all of the nation's circulating paper currency consists of Federal Reserve...

Glossary

What is an ICVC?

This stands for 'Investment Company with variable capital' and is an open-end fun...

Glossary

What is a Graduated Payment?

Repayment terms calling for gradual increases in the payments on a closed-end obl...

Glossary

What is Default Risk?

Credit risk or default risk is the possibility that a bond issuer will default ei...

Glossary

What is Money?

Anything that serves as a generally accepted medium of exchange, a standard of va...

Glossary

What is Pricing Frequency?

The frequency with which a fund's assets are valued to establish the net asset va...

Glossary

What is a Fiscal Policy?

Government policy regarding taxation and spending. Fiscal policy is made by Congr...

Glossary

What is a YTD?

This stands for ""year to date"" and is used in conjunction with performance deta...

Glossary

What is a Surcharge?

An extra charge imposed on those who purchase with a credit card instead of cash....

Glossary

What is an Investment Style?

A description of a fund's investment approach. For example, an equity fund might ...

Glossary

What is an Asset Allocation?

The strategic distribution of available capital over various investment instrumen...

Glossary

What is a Bottom-up?

An investment approach which focuses on specific investments rather than on asset...

Glossary

What is Pooling?

Pooling is the basic concept of investment funds. A fund pools the money of a num...

Glossary

What is the Federal Advisory Council (FAC)?

This group consists of one member from each Federal Reserve District (usually a b...

Glossary

What is a Market Price?

The price of investment fund units listed on a stock exchange or traded over the ...

Glossary

What is a Financial Institution?

An institution that uses its funds chiefly to purchase financial assets (deposits...

Glossary

What is Unencumbered?

Usually describes a property free of mortgage interests....

Glossary

What is a YTM?

This stands for ""yield to maturity"", See 'Average Yield to Maturity'....

Glossary

What is an Agreement Corporation?

An Agreement corporation is a federally or state-chartered corporation that has e...

Glossary

What is a Futures Contract?

Standardized, exchange-traded contract for the future delivery or receipt of a sp...

Glossary

What is Valor?

Swiss security identification code for a transactions in Switzerland....

Glossary

What are Reserves?

Funds set aside by depository institutions to meet reserve requirements. For memb...

Glossary

What are Grandfathered Activities?

Nonbank activities, some of which would normally not be permissible for bank hold...

Glossary

What is the Real Estate Settlement Procedures Act?

Law requiring lenders to give borrowers advance notice of closing costs....

Glossary

What is a Worst Month?

The worst monthly return over the period observed....

Glossary

What is a Portfolio?

A collection of investments, often accounted for on a joint basis....

Glossary

What is a Rating?

The credit quality of debt instruments established by rating agencies such as Moo...

Glossary

What is a Category (Tranches)?

Some funds offer various categories of shares. For some Clariden bond funds, inve...

Glossary

What is Prepayment?

Full or partial payment of the principal before the due date. This might occur if...

Glossary

What is the Depository Institutions Deregulation Committee (DIDC)?

The Committee responsible for the orderly phase-out over a six-year period of int...

Glossary

What is a CDO?

This stands for ""Collateralized Debt Obligation"" and is a bond backed by a pool...

Glossary

What is a Consumer Advisory Council (CAC)?

A statutory body established by Congress in 1976. The Council, with 30 members wh...

Glossary

What is Top-down?

An investment approach that focuses on decisions on market or sector weightings b...

Glossary

What is a Balloon Payment?

A large extra payment that may be charged at the end of a loan or lease....

Glossary

What are Commercial Banks?

Commercial Banks are allowed to engage in more varied lending activities and to o...

Glossary

What is a Unit Trust?

An open-end fund in the form of a trust. This form of organization is particularl...

Glossary

What is an Umbrella Fund?

A fund construction that allows one legal entity to cover two or more segregated ...

Glossary

What is a Subscription Date?

The date on which a purchase or redemption of an investment fund is conducted....

Glossary

What is an Asset Allocation Fund?

A mutual fund in which the investments are spread over different asset classes....

Glossary

What are Foreign Exchange Transactions?

Purchase or sale of the currency of one nation with that of another. Foreign exch...

Glossary

What is a Comptroller of the Currency?

The Comptrolloer of the Currency is an officer of the Treasury Department respons...

Glossary

What is a Listing?

Official authorization needed for a fund to be traded on a stock exchange....

Glossary

What is a Benchmark?

The index which serves as a means of measuring a fund's performance. Benchmarks e...

Glossary

What is a Fedwire?

The Federal Reserve funds transfer system. Fedwire is used for transferring reser...

Glossary

What is an Annualized Tracking Error?

Tracking error measures the risk taken by a fund against its benchmark. It is the...

Glossary

What is a Credit Risk?

Credit risk or default risk is the possibility that a bond issuer will default ei...

Glossary

What is a SICAV?

Stands for the French term ""Société d'Investissement à Capital Variable "" and...

Glossary

What is Beta?

Beta measures the sensitivity of the fund to its benchmark. The beta of the bench...

Glossary

What is Estate Planning?

Estate planning is the orderly handling, disposition and administration of an est...

Glossary

What is Retirement Planning?

Retirement planning is the provess of defining your retirement income goals/needs...

Glossary

What is an Inception Date?

The date a fund was first made available to investors. See 'Launch Date'....

Glossary

What is a Sharpe Ratio?

This measures past excess returns (annualized return less the return on a risk fr...

Glossary

What is an Automatic Transfer Service (ATS) Account?

A depositor's savings account from which funds may be transferred automatically t...

Glossary

What is a Member Bank?

A depository institution that is a member of the Federal Reserve. All national ba...

Glossary

What is a Demand Deposit?

A deposit payable on demand, or a time deposit with a maturity period or required...

Glossary

What is a Credit?

The promise to pay in the future in order to buy or borrow in the present. The ri...

Glossary

What is the Federal Open Market Committee (FOMC)?

A 12-member committee consisting of the seven members of the Federal Reserve Boar...

Glossary

What is Inflation?

A rise, over time, in the average level of prices....

Glossary

What is a Best Month?

The best monthly return over the period observed....

Glossary

What is a Credit Scoring System?

A statistical system used to determine whether or not to grant credit by assignin...

Glossary

What is Owner Financing?

A purchase in which the seller provides all or part of the financing....

Glossary

What is FCP?

This stands for the French term ""Fonds commun de placement"", a form of open-end...

Glossary

What is Information Ratio?

Information ratio measures the difference between the annualized return of a fund...

Glossary

What is Open-End Credit?

A line of credit that may be used repeatedly up to a certain limit, also called a...

Glossary

What is Productivity?

The amount of physical output for each unit of productive input....

Glossary

What is an Investment Objective?

This outlines the goal and broad strategy that the fund pursues....

Glossary

What is Financial Planning?

Financial planning is the careful management of overall finances in order to meet...

Glossary

What is a Liability on an Account?

Legal responsibility to repay debt....

Glossary

What is a Closed-End Credit?

Generally, any loan or credit sale agreement in which the amounts advanced, plus ...

Glossary

What is a Debit Card?

A card that resembles a credit card but which debits a transaction account (check...

Glossary

What is Earnest Money?

Deposit made by a buyer toward the down payment as evidence of good faith when th...

Glossary

What is a Transfer?

A document registered at the Land Title Office recording the change of ownership ...

Glossary

What is a Zero-Bond?

Zero-coupon bonds or zero-bonds are so named because they pay no interest. These ...

Glossary

What is a Clearinghouse?

An institution where mutual claims are settled between accounts of member deposit...

Glossary

What is Creditworthiness?

A creditor's measure of a consumer's past and future ability and willingness to r...

Glossary

What is Velocity?

The rate at which money balances turn over in a period for expenditures on goods ...

Glossary

What is Securities Lending?

The lending of securities for a fee against collateral....

Glossary

What are Self-Regulatory Organizations (SRO)?

Non-government organizations that have statutory responsibility to regulate their...

Glossary

What is an Estate Administrator?

An individual appointed by a court to manage and distribute the estate of a perso...

Glossary

What are Eurodollars?

Deposits denominated in U.S. dollars at banks and other financial institutions ou...

Glossary

What is an Annualized Return?

The return is the difference between the end - period value of the fund and its b...

Glossary

What is a Mutual Fund?

Another common term for investment funds, especially in the United States....

Glossary

What are Matched Sale-Purchase Agreements?

When the Federal Reserve makes a matched sale-purchase agreement, it sells a secu...

10 votes

Glossary

What is the Federal Reserve?

Central bank of the United States and major regulatory agency for many commercial...

Glossary

What is an ISIN?

International Securities Identification Number. See 'Security Number'....

Glossary

What is a Cease-and-Desist Order?

An order issued after notice and opportunity for hearing, requiring a depository ...

Glossary

What are Special Drawing Rights (SDRs)?

A type of international money created by the IMF and allocated to its member nati...

Glossary

What are Permissible Nonbank Activities?

Financial activities closely related to banking that may be engaged in by bank ho...

Glossary

What is a Cumulative Performance?

Total increase in value over a certain period of time, expressed as a percentage ...

Glossary

What is an Investment Trust?

Another common term used for closed-end funds, especially in the United Kingdom. ...

Glossary

What is OPCVM?

This stands for the French term ""Organisme de Placement Collectif en Valeurs Mob...

Glossary

What is a Closed-end Fund?

Investment fund in the form of a publicly traded investment company. It collects ...

Glossary

What is an Annualized Volatility?

Volatility measures the riskiness of the fund and is the standard deviation of mo...

Glossary

What is APY?

A percentage rate reflecting the total amount of dividends paid on an account bas...

Glossary

What is a Buydown?

A lump sum payment made to the creditor by the borrower or by a third party to re...

Glossary

What is a Federal Margin Call?

A broker's demand upon a customer for cash, or securities needed to satisfy the r...

Glossary

What is a Renegotiable Rate?

A type of variable rate involving a renewable short-term ""balloon"" note. The in...

Glossary

What is Performance?

Total increase in value over a certain period of time, expressed as a percentage ...

Glossary

What is vault cash?

Cash kept on hand in a depository institution's vault to meet day-to-day business...

Glossary

What is a Negotiable Order of Withdrawal (NOW) Account?

An interest earning account on which checks may be drawn. Withdrawals from NOW ac...

Glossary

What is Market Capitalization?

The number of outstanding shares in a company multiplied by the current market pr...

Glossary

What is an International Monetary Fund (IMF)?

An international organization with 146 members, including the United States. The ...

Glossary

What is a Registration?

List of the countries in which the fund has permission to be sold publicly in the...

Glossary

What is a Net Asset Value ("NAV")?

The NAV of a fund unit corresponds to the market value of the fund on a given day...

Glossary

What is a Bankers Acceptance?

Bankers acceptances are negotiable time drafts, or bills of exchange, that have b...

Glossary

What is an Open-end Fund?

Investment fund with variable capital, which issues new shares continuously and i...

Glossary

What is a Service Charge?

A component of some finance charges, such as the fee for triggering an overdraft ...

Glossary

What is a VNI?

Stands for the French term ""Valeur nette d'inventaire"" . See 'Net Asset Value (...

Glossary

What is a Walk-through?

A final inspection of a home to check for problems that may need to be corrected ...

Glossary

What is ETF?

This stands for Exchange Traded Funds. Also known as ""composite"" or ""index sha...

Glossary

What is a Minimum Order Quantity?

The fund provider may require a certain minimum number of units to buy or sell....

Glossary

What is a NIW?

This stands for the German term ""Netto Inventarwert"". See 'Net Asset Value (NAV...

Glossary

What is a Yield Curve?

A graph depicting yield as it relates to maturity....

Glossary

What is a Correspondent Bank?

A bank that accepts deposits of and performs banking services for other depositor...

Glossary

What is Bank Supervision?

Concern of financial regulators with the safety and soundness of individual banks...

Glossary

What is a SICAF?

Stands for the French term ""Société d' Investissement à Capital Fixe"" and is...

Glossary

What is a Nonmember Depository Institution?

A depository institution (commercial bank, mutual savings bank, savings and loan ...

Glossary

What is OGAW?

This stands for the German term ""Organismus f'r Gemeinsame Anlagen in Wertpapier...

Glossary

What is the FHLMC?

Federal Home Loan Mortgage Corporation. Quasi-governmental agency that purchases ...

Glossary

What are Federal Funds?

Reserve balances that depository institutions lend each other, usually on an over...

Glossary

What is a Recession?

A significant decline in general economic activity extending over a period of tim...

Glossary

What are Errors and Omissions?

Legal document whereas you agree to cooperate with clerical error corrections in ...

Glossary

What is a Bank Holding Company?

A company that owns or controls one or more banks. The Board of Governors has res...

Glossary

What is a Junk Bond Fund?

Another term for a high yielding bond fund. See 'High Yield Bond Fund'....

Glossary

What is an Academic Consultant?

An advisory group initiated by the Board in the 1960s to provide a forum for the ...

Glossary

What is an OTC Margin Bond?

A debt security not traded on the national securities exchange which meets certai...

Glossary