Personal banking

Personal banking

Referring to the business when banks carry out transactions with customers directly, rather than with other banking institutions or with large corporations.

Industry: Banking

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Personal banking

A form of life insurance that combines term insurance protection with a savings feature. The portion of the funds allocated to the savings feature is invested in a tax-deferred account that typically ...

Uniform Standards of Professional Appraisal Practice (USPAP)

Banking; Personal banking

Appraisal requirements published by the Appraisal Foundation. Prior to 1994, USPAP rules were included as an appendix to the Uniform Real Estate Appraisal Rule published by the four federal financial ...

unlimited guaranty

Banking; Personal banking

A guaranty agreement that does not include any provisions restricting the amount of debt guaranteed.

unplatted land

Banking; Personal banking

Land that is not platted. Land for which the property description takes the form of a metes and bounds description rather than a lot identification.

unqualified opinion

Banking; Personal banking

Term used to describe an opinion letter accompanying audited financial statements in which the CPA states that the financial statements fairly present the financial position and the results of ...

unrecognized initial net gain

Banking; Personal banking

The current unamortized balance, as of the financial statement date, of the off-balance sheet asset for the initial transition asset in a defined benefit pension plan. FAS 87 requires that this ...

tier 1 capital

Banking; Personal banking

A regulatory definition of bank capital. Tier 1 capital consists of common shareholders’ equity, perpetual preferred shareholders’ equity with noncumulative dividends, retained earnings, and minority ...