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

servicing

Banking; Personal banking

The collection of principal, interest, and sometimes property taxes from borrowers; accounting for the cash flows due and the cash flows received; and remitting the cash flows to the entitled ...

servicing spread

Banking; Personal banking

A percentage of a loan’s or security’s principal amount that is paid to a third party as compensation for servicing. For example, in a mortgage pass-through security, the interest paid to the ...

set off

Banking; Personal banking

(1) In general, the legal right to reduce the amount owed by one party to another party by the sum that the second party also owes to the first party.(2) The confiscation of a deposits held by a ...

(1) Noun — The standard number of days between the date that a purchase or sale is agreed upon (the trade date) and the date that the security and the payment actually change hands (the settlement ...

settlement date

Banking; Personal banking

The agreed-upon date for transferring funds to complete a transaction. For example, the date of both the delivery of and the payment for a security.

stochastic

Banking; Personal banking

A term used to describe outcomes based on uncertain relationships. The process of change in a variable resulting from change in a parameter. For example, option adjusted spread measures of yield and ...

straddle

Banking; Personal banking

An options trading strategy involving the purchase of an equal number of put and call options for the same underlying at the same strike price and with the same maturity. An options trade designed to ...