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

negative duration

Banking; Personal banking

(1) The name for a particular relationship between changes in the price of a debt security and changes in prevailing interest rates. When a security has negative duration, its price decreases in ...

negative gap

Banking; Personal banking

A term referring to a liability-sensitive condition. A mismatch in which interest-sensitive liabilities exceed interest-sensitive assets.

negative pledge

Banking; Personal banking

A document or a provision in a document in which a borrower agrees not to give any creditor a security interest in identified property owned by the borrower.

negative response verification

A form of auditing account balances in which the account debtor is only requested to respond if the balance owed is not the same as the amount shown on the confirmation letter. One of two forms of ...

negotiable Order of Withdrawal (NOW)

Banking; Personal banking

The name of an interest-bearing checking account that banks are permitted by regulation to offer to certain customers.

net asset value (NAV)

Banking; Personal banking

A mutual fund’s share value. It is calculated by subtracting total liabilities from total assets to determine net worth or equity. The equity value is then divided by the number of outstanding ...

net economic value

Banking; Personal banking

Term favored by the Federal Banking regulators in lieu of market value of portfolio equity. The difference between the sum of the present values of all cash flows from assets and the sum of the ...