Terms used in banking business such as Banking center,bankruptcy billing statement,Birth Rate etc



The terms used in banking business such as Banking center,bankruptcy billing statement,Birth Rate etc.


This post explains about terms used in banking such as Banker’s Acceptance,Banking Book,Banking cente,bankruptcy,Basel-II,Basis Point,Bearer Security,Best-Efforts Basis,Bill of Exchange,Bill of Lading,billing statement,Birth Rate 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


Bank: Bank is a financial institution. It accepts funds on current and deposit accounts. It also lends money. The bank pays the cheques drawn by customers against current and deposits accounts. The bank is a trader that deals in money and credit.


Banker’s Acceptance: Negotiable time drafts, or bills of exchange, that have been accepted by a bank which, by accepting, assumes the obligation to pay the holder of the draft the face value of the instrument on the specified maturity date. Bankers’ Acceptances are generally used to finance export, import, shipment, or storage of goods.


Banker's Lien: Bankers lien is a special right of lien exercised by the bankers, who can retain goods bailed to them as a security for general balance of account. Bankers can have this right in the absence of a contract to the contrary.


Banking Book: The banking book comprises assests and liabilities, which are contracted basically on account of relationship or for steady income and statutory obligations and are generally held till maturity.


Banking center:A Bank of America branch office. There are thousands of Bank of America banking center locations.


The terms used in banking  business such as Banking cente,bankruptcy billing statement,Birth Rate etcBanking: Accepting for the purpose of lending or investment of deposits of money from Public, Repayable on demand or otherwise and withdraw able by cheques, drafts, order, etc.


bankruptcy -- A legal action taken when a credit holder cannot repay his or her debt. It modifies or eliminates the legal responsibility to repay some forms of debt. This is a serious action that can have serious consequences on a consumer’s financial future.


Bankruptcy: A condition in which a firm (or individual) is unable to meet its (his) obligations and, hence, its (his) assets are surrendered to a court for administration.


BASEL Capital accord: The BASEL Capital Accord is an Agreement concluded among country representatives in 1988 to develop standardised risk-based capital requirements for banks across countries. The Accord was replaced with a new capital adequacy framework (BASEL II), published in June 2004. BASEL II is based on three mutually reinforcing pillars hat allow banks and supervisors to evaluate properly the various risks that banks face. These three pillars are: 1.Minimum capital requirements, which seek to refine the present measurement
framework 2.supervisory review of an institution's capital adequacy and internal assessment process;3.market discipline through effective disclosure to encourage safe and sound banking practices.


BASEL Committee on Banking Supervision:The BASEL Committee is a committee of bank supervisors consisting of members from each of the G10 countries. The Committee is a forum for discussion on the handling of specific supervisory problems. It coordinates the sharing of supervisory responsibilities among national authorities in respect of banks' foreign establishments with the aim of ensuring effective supervision of banks' activities worldwide.


Basel-II: The Committee on Banking Regulations and Supervisory Practices, popularity known as Basel Committee, submitted its revised version of norms in June, 2004. Under the revised accord the capital requirement is to be calculated for credit, market and operational risks. The minimum requirement continues to be 8% of capital fund (Tier I & II Capital) Tier II shall continue to be not more than 100% of Tier I Capital.


Basis Book: A book of mathematical tables used to convert yield-to-maturity to the equivalent dollar prices at different rates of interest. See Discount Book.


Basis Point: Is one hundredth of one percent. 1 basis point means 0.01%. Used for measuring change in interest rate/yield.


Basis Point: One-hundredth of one percentage point (i.e. 0.01%), normally used for indicating spreads or cost of finance.


Basis Point: One hundredth of 1%. A measure normally used in the statement of interest rate e.g., a change from 5.75% to 5.81% is a change of 6 basis points. Bear Markets: Unfavorable markets associated with falling prices and investor pessimism.


Basis Point: One-hundredth of 1 percent. One hundred basis points equals 1 percent.


Basis Price: Price expressed in yield to maturity or the annual rate of return on the investment.


Bear Market: A period of generally pessimistic attitudes and declining market prices. Compare Bull Market.


Bear: investor who sells believing prices will fall.


Bearer Form: A negotiable instrument format that has no registered owner. The instrument is therefore payable to the person who has physical possession of the security.


Bearer Security: A security that does not have the name of the owner or owner's agent registered on the books of the issuer. Thisallows the proceeds (principal as well as interest) to be paid to the current holder of the security.


Below the Market: A price below the current market price for a particular security.


Beneficiary:The individual or entity receiving the funds transfer.


Best-Efforts Basis: Where a securities dealer does not underwrite a new issue but sells it on the basis of what can be sold. In the money market, this usually refers to a firm order to buy or sell a given amount of securities or currency at the best price that can be found over a given period of time. It can also refer to a flexible amount up to a certain limit at a given rate.


Bid and Asked/Bid and Offer: The price at which an owner offers to sell (asked or offer) and the price at which a prospective buyer offers to buy (bid). It is often referred to as a quotation or a quote. The difference between the two is called the spread.


Bid Price: The highest price offered by a dealer to purchase a given security.


Bid price: the price at which the market maker will buy.


Bid/Bond Guarantee: A guarantee issued by a bank on behalf of a seller to a buyer to support the sellers’ bid or tender for a contract. If the sellers’ bid is accepted, the buyer can claim compensation under the guarantee.


Bid-ask Spread: The difference between a dealers’s bid and ask price.


BIFR: Board for Industrial and Financial Reconstruction.


Big Board: The New York Stock Exchange (NYSE).


Bilateralism: It implies an agreement between two countries to extend to each other specific privileges in their international trade which are not extended to others.


Bill Discounting:Receiving payment on a bill of exchange prior to the bill’s maturity by surrendering the bill for the face value less applicable interest for the time remaining up to maturity.


Bill of Exchange: An order written by the seller of goods instructing the purchaser to pay the seller (or bearer of the bill) a specified amount on a specified future date.


Bill of Lading: A document which represents ownership of goods in transit.


Bill Pay:A service from Bank of America that lets you pay your bills online.


billing cycle -- The period of time that a credit statement covers.


billing statement -- The summary of all actions applied to a credit account during a billing cycle. These can include payments, purchases, finances charges, fees and other transactions.


Binary Image:A black and white image of a check where each pixel can be stored in memory by one bit of information since it is binary - either black or white.


Birth Rate: Birth Rate (or Crude Birth Rate) is number of the births per thousand of the population during a period, usually a year. Only live births are included in the calculation of birth rate.


The above details describes about terms called in banking such as Banker’s Acceptance,Banking Book,Banking cente,bankruptcy,Basel-II,Basis Point,Bearer Security,Best-Efforts Basis,Bill of Exchange,Bill of Lading,billing statement,Birth Rate 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 such as Automation,Availability Policy,Available Balance etc

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