10 Terms
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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
Securities Information Center (SIC)
Banking; Personal banking
A corporation that has been designated by the SEC to maintain and operate a national database of lost and stolen securities. Under Section 17(f) of the Securities and Exchange Act, banks, brokers, ...
Securities Investors Protection Corporation (SIPC)
Banking; Personal banking
A private corporation providing insurance to brokerage firms to cover customer accounts up to $500,000 in securities (including $100,000 in cash).
securities lending
Banking; Personal banking
The temporary transfer of securities from an investor’s portfolio to a counterparty borrower. The counterparty may borrow to cover securities transaction fails (securities sold but for some reason ...
securitization
Banking; Personal banking
The process and the result of pooling financial assets together and issuing liability and equity obligations backed by the resulting pool of assets to convert those assets into marketable securities. ...
security agreement
Banking; Personal banking
An agreement between one or more debtors and one or more creditors in which the debtor grants the creditor an interest in the debtor’s personal property as collateral for the debt. (Alternatively or ...
security interest
Banking; Personal banking
Term used to describe an interest in personal property (collateral) owned by a debtor.
super floater
Banking; Personal banking
Floating rate CMO tranches that have coupon rates that are determined by formulas such that the interest rate paid is a multiple of an underlying rate minus a stated spread. For example, a ...
