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

Add a new term

Contributors in Personal banking

Become a Contributors

Personal banking

variance swap

Banking; Personal banking

A swap agreement where one party agrees to receive implied volatility and pay realized while the counterparty agrees to receive realized volatility and pay implied.

vector path

Banking; Personal banking

A series of prepayment speeds, in a sequence, that is chosen to reflect an assumed interest rate scenario. For example, if prevailing interest rates are near a cyclical low and still falling, a ...

vega

Banking; Personal banking

The change in an option’s price resulting from changes in the volatility of the price for the underlying.

vested accumulated benefit obligation

Banking; Personal banking

The portion of the accumulated benefit obligation under a defined benefit plan to which the employees have a legal right even if their employment is terminated before retirement.

vintage CMO

Banking; Personal banking

A collateralized mortgage obligation (CMO) backed by seasoned mortgage securities.

The rate of change in a variable. More formally, a statistical term to quantify the dispersion of variables such as rates or prices around the mean. A measure of the variability of the price of an ...

waiver

Banking; Personal banking

The agreement of a lender to overlook a borrower’s failure to meet one or more conditions attached to the granting of a credit — conditions that would, in the absence of a waiver, give the lender the ...