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 maximum amount by which an adjustable-rate security’s coupon rate can change in any given period of time. Also called reset cap. For most ARMs and floaters, the maximum periodic or reset change ...

permanent lender

Banking; Personal banking

A lender, which may be a financial institution, an insurance company, or a pension fund, that finances real estate projects after construction is completed. Also called end lender.

permanent working capital

Banking; Personal banking

An informal phrase used to describe the amount of short-term liabilities needed to offset a continuous or nearly continuous working capital shortfall. Also used as a name for a borrower's need for ...

personal property

Banking; Personal banking

Defined by law to be all property that is not real property. Further classified in Article 9 of the Uniform Commercial Code into various categories.

phase I audit

Banking; Personal banking

The most common form of environmental liability risk assessment. A phase I audit consists of a thorough review of the past and present ownership of the property as well as the past and present uses ...

phase II audit

Banking; Personal banking

An environmental liability risk assessment. A phase II audit is usually conducted only when the phase I audit or other information about the property or about the activities conducted on the property ...

pivot point

Banking; Personal banking

The point on a yield curve that separates the rising rates from the falling rates when yield curves flatten or steepen. Often near the five year point.