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 secured party to whom insurance proceeds are paid as stipulated in a mortgagee payee clause of an insurance policy obtained by a debtor and covering property owned by a debtor and pledged to the ...

mortgagee clause

Banking; Personal banking

A provision in a hazard insurance contract stipulating that in the event of a loss, proceeds will be paid to a secured party. Usually used when the insured property is real property. Includes ...

mortgagee waiver

Banking; Personal banking

A document obtained by some secured lenders with a collateral interest in property covered or potentially covered by a mortgage granted to a different lender. For example, if Bank B is taking a ...

municipal derivatives

Banking; Personal banking

Synthetic securities created from municipal securities. Variable-rate, short-term securities are, for example, created from long-term, taxable municipals when remarketing agents add a series of put ...

NACM

Banking; Personal banking

Acronym for National Association of Credit Managers.

naked

Banking; Personal banking

The position of an option holder who does not also own an offsetting position in the underlying. For example, an investor who sells a call option but who does not own the underlying instrument that ...