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

The situation in which an option has value because of the relationship between the option's strike price and the current market price for the underlying instrument, the spot price. A call option is ...

incumbency certificate

Banking; Personal banking

A list of the names of the individuals holding various corporate offices within a corporation.

indemnification agreement

Banking; Personal banking

An agreement in which the borrower promises to protect the bank or reimburse the bank for any damages, claims, costs, penalties, or liabilities that may arise from some problem. For example, the bank ...

indeterminate maturity

Banking; Personal banking

An unspecified maturity date for a financial instrument. For example, the maturity date of a savings account.

index

Banking; Personal banking

A benchmark upon which the payment rate or accrual rate for an adjustable-rate loan or investment is based. For example, a business loan may pay interest at the prime rate plus 1 percent. In that ...

index amortizing note (IAN)

Banking; Personal banking

Securities which repay principal according to a predetermined amortization schedule that is linked to the level of a specific index or a specific prepayment rate. As market interest rates increase or ...

index amortizing swap (IAS)

Banking; Personal banking

A type of amortizing interest rate swap in which the notional amount declines or amortizes based upon a specific index such as a mortgage prepayment speed.