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

accelerated depreciation

Banking; Personal banking

A group of methods for achieving periodic reductions in the book value of fixed assets that make larger reductions in the early periods and progressively smaller reductions in later periods. The ...

acceleration

Banking; Personal banking

Making demand for payment in full for a debt that has not yet matured. Usually a remedy provided in a loan document for the lender to use in the event of default by the borrower.

acceleration clause

Banking; Personal banking

A provision in a loan document stating that the entire amount of unpaid indebtedness owed to the lender may become immediately due and payable if the borrower defaults.

acceptance

Banking; Personal banking

A time draft that has been accepted for payment.

accessions

Banking; Personal banking

Goods that are physically united with other goods in such a manner that the identity of the original goods is not lost. An example is a new motor in a piece of equipment.

accommodation maker

Banking; Personal banking

Name used to refer to a co-maker who agrees to sign a note to induce the lender to make a loan, but who receives no direct benefit from the loan.

account analysis

Banking; Personal banking

An analysis performed to determine the profitability of each demand account to the bank. The analysis may also be used to determine the profitability of a group of demand accounts with the same ...