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

Gramm-Leach Bliley Act of 1999 (GLBA)

Banking; Personal banking

Major banking legislation designed to significantly enhance the powers and authority of financial institutions by allowing the formation of new financial holding companies. Financial holding ...

grantor

Banking; Personal banking

A person, partnership or corporation that gives or conveys an interest in property. Often used to identify the creator of a trust.

gross-bonded debt

Banking; Personal banking

The total amount of direct debt of an issuer, represented by outstanding bonds before deduction of any assets available and earmarked for their retirement.

gross profit

Banking; Personal banking

A subtotal on a firm's statement of income that is net sales minus cost of goods sold. Sometimes called gross profit on sales.

Fair Credit Reporting Act (FCRA)

Consumer protection legislation enacted in 1968 as part of the Consumer Credit Protection Act to ensure that the banking system in the United States would have a reliable credit reporting system. The ...

fair value

Banking; Personal banking

An accounting term defined by FASB. The amount at which an asset could be bought or sold in a current transaction between willing parties, that is, other than in a forced or liquidation sale. Quoted ...

fair value hedge

Banking; Personal banking

A type of hedge defined by FAS 133. An entity may designate a derivative instrument as hedging the exposure to changes in the fair value of an asset or a liability, or a portion of an asset or a ...