Cheque kitting (Ofer Abarbanel online library)

Cheque fraud (British English), or check fraud (American English), refers to a category of criminal acts that involve making the unlawful use of cheques in order to illegally acquire or borrow funds that do not exist within the account balance or account-holder’s legal ownership. Most methods involve taking advantage of the float (the time between the negotiation of the cheque and its clearance at the cheque writer’s financial institution) to draw out these funds. Specific kinds of cheque fraud include cheque kiting, where funds are deposited before the end of the float period to cover the fraud, and paper hanging, where the float offers the opportunity to write fraudulent cheques but the account is never replenished. Continue reading “Cheque kitting (Ofer Abarbanel online library)”

Asset–liability mismatch (Ofer Abarbanel online library)

In finance, an asset–liability mismatch occurs when the financial terms of an institution’s assets and liabilities do not correspond. Several types of mismatches are possible. Continue reading “Asset–liability mismatch (Ofer Abarbanel online library)”

Bank Services Billing Standard (Ofer Abarbanel online library)

Large multinational corporations want to streamline their banking practices. To do this, they need all of their bank billing electronically, and in a common format. Continue reading “Bank Services Billing Standard (Ofer Abarbanel online library)”

All-in rate (Ofer Abarbanel online library)

The term All-in rate is used in both Construction and the Financial sector. It essentially just means “full costs charged for a service”. Continue reading “All-in rate (Ofer Abarbanel online library)”

Banker to the Poor (Ofer Abarbanel online library)

Banker to the Poor: Micro-Lending and the Battle Against World Poverty is an autobiography of 2006 Nobel Peace Prize Winner and Grameen Bank founder Muhammad Yunus. Continue reading “Banker to the Poor (Ofer Abarbanel online library)”

Adjustable-rate mortgage (Ofer Abarbanel online library)

A variable-rate mortgage, adjustable-rate mortgage (ARM), or tracker mortgage is a mortgage loan with the interest rate on the note periodically adjusted based on an index which reflects the cost to the lender of borrowing on the credit markets.[1] Continue reading “Adjustable-rate mortgage (Ofer Abarbanel online library)”

Bank secrecy (Ofer Abarbanel online library)

Banking secrecy,[1][2] alternately known as financial privacybanking discretion, or bank safety,[3][4] is a conditional agreement between a bank and its clients that all foregoing activities remain secure, confidential, and private.[5][6] Continue reading “Bank secrecy (Ofer Abarbanel online library)”

Bankers’ bonuses (Ofer Abarbanel online library)

Bankers’ bonuses are traditionally paid or awarded to some workers in the finance industry at the end of the bank’s financial year. They are intended to reward employee behavior during that year that has increased the profits of the bank or some relevant part of its business, as shown by the annual accounts. Continue reading “Bankers’ bonuses (Ofer Abarbanel online library)”

Arranger (banking) (Ofer Abarbanel online library)

In investment banking, an arranger is a provider of funds in the syndication of a debt. They are entitled to syndicate the loan or bond issue, and may be referred to as the “lead underwriter”. This is because this entity bears the risk of being able to sell the underlying securities/debt or the cost of holding it on its books until such time in the future that they may be sold. They do not necessarily acquire all the debt – this may be split into various parts and sold to a variety of Arrangers. Continue reading “Arranger (banking) (Ofer Abarbanel online library)”

Christmas club (Ofer Abarbanel online library)

The Christmas club is a savings program that was first offered by various banks and credit unions in the United States beginning in the first half of the 20th century, and including the Great Depression. The concept is that bank customers deposit a set amount of money each week into a special savings account, and receive the money back at the end of the year for Christmas shopping. Continue reading “Christmas club (Ofer Abarbanel online library)”