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

plain vanilla

Banking; Personal banking

Simple; not complex. Sometimes used to differentiate pass-through MBS pools from CMO structures. More often used to mean sequential-pay REMICs, the simplest REMIC structure.

planned amortization class (PAC) tranche

A REMIC security created to receive selected cash flows from a pool of underlying mortgages securing the REMIC. PAC tranches use a structure similar to a sinking fund to establish a fixed principal ...

platted land

Banking; Personal banking

Land that has been divided into lots described in a plat plan that is filed in the real estate records of a political entity.

plus

Banking; Personal banking

An informal term for 1/64. Half of 1/32, the smallest increment commonly used to quote the price of an agency security. For example, a quoted price of 101 and 5/32 plus is equivalent to 101 and ...

political subdivision

Banking; Personal banking

A county, city, town, or other municipal corporation, a public authority, and generally any publicly owned entity that is an instrumentality of a state or of a municipal corporation.

pool

Banking; Personal banking

(1) For mortgage-backed securities, a pool is a group of mortgage loans backing an individual security issue.(2) In funds transfer pricing systems, a pool is an aggregation of funds to provide ...

portfolio

Banking; Personal banking

A collection of financial assets belonging to a single owner. For example, the municipal bond portfolio. Risk in portfolios is reduced by diversification.