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

An obligation issued by a bank on behalf of a bank customer to a third party. A standby letter of credit is a bank promise to pay the third party in the event of some defined failure by the bank’s ...

statement of financial accounting standards (SFAS or FAS)

Banking; Personal banking

A ruling issued by the Financial Standards Accounting Board (FASB) covering a particular topic. Usually, these statements are referenced with the acronym FAS followed by the numeral for a specific ...

statement savings account

Banking; Personal banking

A savings account which does not provide the depositor with a passbook. Instead, the depositor receives a monthly or quarterly statement from the bank.

static gap analysis

Banking; Personal banking

Gap analysis method that measures exposure to interest rate risk based solely upon the assets and liabilities held by the bank at the time that the analysis is performed. The opposite of dynamic gap ...

static spread

Banking; Personal banking

(1) The difference between two values at a single point in time. For example, the difference between two yields.(2) The calculated spread over the Treasury yield that the investor would realize from ...

step-ups

Banking; Personal banking

A form of callable security for which the coupon rate increases if the security is not called.

sticky

Banking; Personal banking

(1) A term used by economists to describe changes in dependent variables that tend to lag behind changes in the independent variables with which they are associated. For example, time lags are known ...