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 process of making incremental, periodic increases in the book or carrying value of an asset. For example, when a bond is purchased at a price below 100, the difference between the purchase price ...

accrual bond

Banking; Personal banking

(1) Bonds that pay the investor an above-market coupon rate as long as a reference rate is between preset levels established at the time the security is issued. A type of structured note. Also called ...

accrual convention

Banking; Personal banking

Method used by investors for counting the number of days in each month and in the year. Also called accrual basis or day basis. The accrual convention is expressed in different ways. An accrual basis ...

accrued interest

Banking; Personal banking

Interest that has been earned but not yet paid. For example, the interest earned by a bondholder between semiannual coupon payments or the interest earned by a lender since the last monthly interest ...

accumulated benefit obligation (ABO)

Banking; Personal banking

The actuarial present value of the pension benefits earned to date. Measurement of the accumulated benefit obligation uses the historical compensation rates for pay-related benefit plans. The ABO ...