Terms used in banking business such as Guaranteed Investment Certificate,Guild Socialism etc

 

 

The terms used in banking business such as Guaranteed Investment Certificate,Guild Socialism etc.

 

 

 

This post explains about terms used in banking such as Gender Empowerment Measure,Futures,Gilt Account Holders ,Good-Faith Check,Government Bonds,Gross Domestic Product,Gresham's Law,Gross Domestic Product ,Gross National Product , Gross National Product,Gross Yield,Guaranteed Investment Certificate,Guild Socialism etc. These terms used in international business are arranged in alphabetical order and you may add more information about terms used in export business at the end of this article, if you wish.

 

The terms used in banking business

 

Future Value: The amount to which a current deposit will grow over a period of time when it is placed in an account paying compound interest.

 

Futures Contract: A commitment to deliver a certain amount of some specified item at some specified date in the future.

 

Futures: contract between two parties to trade a commodity or security at a fixed price and a fixed future date.

 

The terms used in banking  business such as Guaranteed Investment Certificate,Guild Socialism etcFutures: Contracts to buy something in the future at a price agreed upon in advance. First developed in the agriculture commodity markets but often involve foreign exchange, and Government bonds.

 

Garnishee Order: When a Court directs a bank to attach the funds to the credit of customer's account under provisions of Section 60 of the Code of Civil Procedure, 1908.

 

GDI: GDI (Gender Related Development Index) is a composite index measuring average achievement in the three basic dimensions captured in the human development index–a long and healthy life, knowledge and a decent standard of living–adjusted to account for inequalities between men and women.

 

GEM: GEM (Gender Empowerment Measure) is a composite index measuring gender inequality in three basic dimensions of empowerment–economic participation and decision making, political participation and decision making, and power over economic resources.

 

General Lien: A right of the creditors to retain possession of all goods given in security to him by the debtor for any outstanding debt.

 

General Obligation Bonds (GOs): Bonds secured by the pledge of the municipal issuer's full faith and credit, which usually includes unlimited taxing power.

 

General Property Taxes: Taxes that are placed on real estate and personal property.

 

Giffin Goods: Giffin goods have the positive relationship between price and quantity demanded and as a result demand curve of Giffin goods slopes upward from left to right. This phenomenon was first observed by Sir Robert Giffin in relation to the demand for bread by poor labours.

 

Gilt Account Holders (GAHs): Non-NDS members who have gilt account and current account with PMs are termed as GAHs. GAHs permitted by RBI include NBFCs, Provident Funds, Pension Funds, Mutual Funds, Insurance Companies, Cooperative Banks, Regional Rural Banks, Trusts, Corporates, Individuals etc

 

Gilts: bonds issued on behalf of the UK government to fund spending. Known as ‘gilt-edged securities’ because the bond contracts used to have gold round the edge.

 

Gini-coefficient:It represents the measurement of inequality derived from the ‘Lorenz Curve,’ with every increase in the degree of inequality, the curvature of the Lorenz Curve also increases and the area between the curve and 45° line becomes larger. The Gini-coefficient is measured as— G =Area between Lorenz Curve & 45° Line/Area above the 45° Line

 

Ginnie Mae: Trade name for the Government National Mortgage Association (GNMA).

 

Going-concern value:The value of the firm as a whole over and above the sum of the values of each of its parts; the value of an organization’s learning and reputation.

 

Good `till Canceled (GTC) Order: An order for securities that may be limited in terms of price but not in terms of time.

 

Good Delivery: A security that meets all the requirements of the stock exchange for delivery to a banker when the security is sold.

 

Good-Faith Check: The check that must be included with a bid on a bond sale. Usually, if the bonds are awarded to a syndicate that does not pick them up as agreed, the good-faith check is kept. The good-faith checks of unsuccessful bidders are returned.

 

Goodwill:The excess of the purchase price paid for a firm over the book value received. Recorded on the acquirers’ balance sheet.

 

Government Bonds: Securities issued by the federal government; they are obligations of the US. Treasury. Also known as"governments."

 

grace period -- The length of time between the use of credit to make a purchase and the start of interest on the amount charged.

 

Gray Scale Image: The print or background on the image of the original check or substitute check is in black or shades of gray.

 

Gresham's Law: “Bad money (if not limited in quantity) drives good money out of circulation”—This statement was given by Sir Thomas Gresham, the economic Adviser of Queen Elizabeth. This law states that people always want to hoard good money and spend bad money when two forms of money are in circulation at the same time.

 

Gross Debt: The sum total of a debtor's obligations.

 

Gross Domestic Product (GDP): It is the money value of all final goods and services produced within the geographical boundaries of the country during a given period of time (usually a year). GDP can be calculated both at current prices and at constant prices. If we add net factor income from abroad to the GDP, we get ‘Gross National Product’ (GNP).

 

Gross Domestic Product (GDP):The total of market value of the finished goods and services produced in a country in a given year. Comprising three sectors viz. Agriculture, Industry & Services.

 

Gross National Product (GNP): It refers to the money value of total output or production of final goods and services produced by the nationals of a country during a given period of time, generally a year.

 

Gross National Product (GNP):The total market value of finished goods and services produced in the country in a given year, plus the income of domestic residents from investments made abroad, minus the income earned by foreigners abroad from the domestic market.

 

Gross National Product Deflator: It is a Price Index Number used to correct the money value of Gross National Product (GNP) for price changes so as to isolate the changes which have taken place in the physical output of goods and services.

 

Gross Profit margin:The difference between the sales a business generates and the costs it pays out for goods.

 

Gross Yield: The percentage of return on a security, determined by dividing the dollar price into the annual interest payment and calculating the return to maturity. Also, the return on an investment before deduction of costs.

 

Guarantee: A contract between guarantor and beneficiary to ensure performance of a promise or discharge the liability of a third person. If promise is broken or not performed, the guarantor pays contracted amount to the beneficiary.

 

Guaranteed Bond: A bond in which repayment is guaranteed by someone other than the debtor.Investment Vocabulary

 

Guaranteed Investment Certificate (GIC): A deposit investment sold by financial institutions where the principal, or how much you deposit, is guaranteed back to you. A GIC generally pays you a higher rate of return than other investments, but you must keep it until the end of a pre-set maturity date. GICs are often bought as part of retirement plans because they provide a low-risk, fixed rate of return. See also "Term Deposit".

 

guarantor -- A person who is financially responsible for the repayment of a credit account but has no use privileges.

 

Guaranty:The undertaking of responsibility by one party for another party’s debt or obligation to perform some specific act or duty. Although the original debtor is responsible for the debt, the guarantor becomes liable in the event of a default.

 

Guild Socialism: This form of socialism accepts the leadership of artisans. The operation of the whole economy specially the management and control of industries lies in the hands of artisans Socialism established by artisans is termed a Guild Socialism.

 

The above details describes about terms called in banking such as Gender Empowerment Measure,Futures,Gilt Account Holders ,Good-Faith Check,Government Bonds,Gross Domestic Product,Gresham's Law,Gross Domestic Product ,Gross National Product , Gross National Product,Gross Yield,Guaranteed Investment Certificate,Guild Socialism etc. These phrases may help importers and exporters on their day to day business activities. The readers can also add more information about terms used in overseas trade below this post.Terms used in banking business such as Funding Limits Settings for Trades,Fundamental Analysis etc

 

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