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

adjustable-rate mortgage (ARM)

Banking; Personal banking

A loan for which the interest rate (coupon rate) is adjusted periodically to reflect changes in a previously selected index rate. ARMs may have caps and floors that limit the annual and/or the ...

A practice used to sell securities without recognizing any or all of the true loss from that sale. To hide the loss, the investor agrees to overpay for a newly purchased security in exchange for the ...

administered rates

Banking; Personal banking

Interest rates that the bank or other payer is contractually permitted to change at any time and by any amount. For example, the rates paid on savings accounts. All interest rates can be categorized ...

administrative float

Banking; Personal banking

Float resulting from the time it takes to administratively process checks or other related paperwork. Total elapsed time for processing checks can range from less than a day to more than a week. Note ...

administrative review

Banking; Personal banking

One of two types of real estate appraisal reviews. Administrative reviews focus primarily on the underwriting issues addressed in the appraisal. These reviews, usually performed by the loan officer, ...

advance formula

Banking; Personal banking

A provision sometimes used in lines of credit as a sublimit on the maximum amount that can be borrowed. Typically, an advance formula limits the amount that can be borrowed under a line of credit to ...

abstract of title

Banking; Personal banking

A written report summarizing the history of title transactions and conditions of title that affect a given piece of land covering the period from the present back to a date in the past. A ...