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

payment guaranty

Banking; Personal banking

A guaranty in which the signer is guarantying payment of the obligation upon the borrower's failure to pay without the bank having to first attempt to collect from the borrower or from any ...

A general intangible under which a debtor’s principal obligation is a monetary obligation from a third party. A category of personal property collateral defined by the 2000 revisions to Article 9 of ...

payments systems disruptions

Banking; Personal banking

A type of systemic liquidity risk. The risk of funding problems arising from the failure to receive funds due to the bank. A payments system disruption need not result from an operational or computer ...

penciled in

Banking; Personal banking

An informal expression used to indicate that a potential buyer's offer to purchase a portion of a new issue is accepted subject to the potential seller winning the bid to become the underwriter.

Pension Benefit Guaranty Corporation (PBGC)

Banking; Personal banking

A U.S. Government agency that was created to insure guaranteed pension benefits. PBGC has statutory authority to claim up to 30% of the net assets of a firm that sponsors a pension plan when an ...

perfection

Banking; Personal banking

The name for a procedure established by Article 9 of the Uniform Commercial Code. Creditors must comply with this procedure in order to establish the priority of their security interest in personal ...

performance bond

Banking; Personal banking

A type of insurance purchased by a builder that protects both the bank and the owner by providing that the insurance company will be responsible for completing construction if the contractor fails to ...