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

solvency

Banking; Personal banking

The condition of having sufficient funds to cover losses. In the short term, solvency is a manifestation of liquidity. Fundamentally, however, solvency is a function of capital adequacy.

The risk of not being able to cover losses regardless of the source, type, or size of the losses. In a broad sense, solvency is often equated with liquidity risk since ready money is needed to cover ...

spec

Banking; Personal banking

An informal lender's term for real estate projects that are built in anticipation of finding tenants; the term "spec" is lender slang for speculative.

special assessment bonds or notes

Banking; Personal banking

Municipal securities repaid from taxes that are imposed only on the individuals who are considered to directly benefit from public improvements made to a neighborhood or community within the ...

special tax bonds or notes

Banking; Personal banking

Municipal securities that are repaid solely from specific taxes. These taxes are typically excise taxes imposed upon purchases of items such as gasoline, tobacco products, or liquor. Only the revenue ...

speed

Banking; Personal banking

The rate at which an MBS prepays. An MBS with little or no prepayments is said to have a slow speed. An MBS with significant prepayments is said to have a high speed or to be speeding. Since pools ...

split-term amortization

Banking; Personal banking

An amortization schedule that has periodic payments inconsistent with the maturity date of the debt. For example, a 5/10 amortization schedule requires payments just large enough to fully amortize ...