Terms with Category Financial Banking
- Before-tax Income — Definition,
- Earnings before income taxes are paid.
- Best's Capital Adequacy Relativity — Definition,
- A percentage used to measure a company's relative capital strength as compared to an industry peer composite.
- Bilateral Contract — Definition,
- A legal agreement in which both parties promise to give each other something. A purchase agreement in which the buyer promises to give money and the seller promises to transfer property is a bilateral contract.
- Bill Presentment — Definition,
- An online system that allows customers to receive and view the bill on a computer, and then pay the bill electronically. Users can pay their bills immediately and the money is transferred from the account.
- Billing Cycle — Definition,
- The number of days between the last statement date and the current statement date.
- Billing Statement — Definition,
- A monthly bill that is sent by a creditor to the customer that provides a summary of the activity on an account. This can include balances, purchases, payments, credits, and finance charges.
- Blank Cheque — Definition,
- A cheque that does not have a dollar amount written on it.
- Bond — Definition,
- A certificate of debt issued by a government or corporation guaranteeing payment of the original investment plus interest by a specified future date.
- Bond Ladder — Definition,
- A series of bonds with different maturity dates, often times evenly spaced over a set period of time.
- Book Value — Definition,
- The value of a property, item or company as a capital asset based on its cost plus any additions, subtracting depreciation.
- A valuation method determined by taking the original cost of an asset and subtracting any depreciation, impairment or amortization costs.
- Boot — Definition,
- Cash or other property used in an exchange to make the values of property traded equal. For instance, if you trade in a delivery truck on a new model, the cash you pay in addition to your old truck is boot.
- Borrow — Definition,
- Sand, gravel or other material used for grading; a slope.
- To get a loan of money.
- Borrower — Definition,
- A person who borrows money or obtains a loan.
- Break-Even Point (BEP) — Acronym,
- The point at which expenses meet income or savings. In home finance, the break-even point often refers to the time it takes to recoup the costs of refinancing a loan or paying discount points.
- Bridge Financing — Definition,
- A short-term, high interest loan that allows a seller to purchase a new property before selling an existing property.
- Bridge Loan — Definition,
- A loan that "bridges" the gap between the purchase of a new home and the sale of the borrower's current home. The borrower's current home is used as collateral and the money is used to close on the new home before the current home is sold. Some are structured so they completely pay off the old home's first mortgage at the bridge loan's closing, while others pile the new debt on top of the old. They usually run for a term of six months.
- Bridge Mortgage — Definition, Important,
- A short-term loan used to allow a homebuyer to purchase a replacement property while still trying to sell their existing home.
- Broker (Bkr) — Abbreviation,
- A person or firm who acts on behalf of another.
- Broker-Agent — Definition,
- An individual, usually in the employ of an insurance company, that is licensed as both an insurance broker and agent.
- Bull Market — Definition,
- When stock prices are increasing and it's a healthy market, this is known as a bull market.
- Business (busn) — Abbreviation,
- Economic activities of a given type.
- A company, either for-profit or non-profit.
- Commercial, industrial or professional activities undertaken by an entity.
- Business Bankruptcy — Definition,
- A bankruptcy case in which the debtor is a business or an individual involved in business and the debts are for business purposes.
- Business Continuation Insurance — Definition,
- Insurance that provides coverage in the event that someone integral to the operation of a business dies or becomes disabled.
- Business Interest Expense — Definition,
- Interest acquired in business operations can be deducted as a business expense.
- Business Net Retention — Definition,
- A measure of the gross writings retained by a company for their own account.
- Buyer's Market — Definition,
- When market conditions favour the buyer.
- Call Deposit Account — Definition,
- A bank account that combines some features from both savings and checking accounts.
- Canada Deposit Insurance Corporation (CDIC) — Company Est. 1967, Ottawa, Ontario, Canada, Important,
- A crown corporation that provides deposit insurance against the loss of deposits made with member financial institutions.
➥ Government of Canada federal crown corporation. - Canada Education Savings Grant (CESG) — Acronym, Canada,
- Program recently introduced by the federal government whereby it will invest, in the form of grants, along-side parents who save for their children's education through RESPs. The government will top up contributions made to an RESP by 20% up to a yearly maximum of $400 per beneficiary.
- Canada Mortgage and Housing Corporation (CMHC) — Company Est. 1946, Canada-wide, Very Important,
- The Canada Mortgage and Housing Corporation: this is a Federally run institution that provides banks and lenders with mortgage insurance. Not to be confused with life or property insurance. In the event of default or foreclosure CMHC assumes responsibility of the property and reimburses the bank/lender the entire mortgage amount. This insurance is required generally when you have less than 25% equity or down payment. This insurance is paid by the property owner in advance but usually added to the mortgage amount. See also "G.E. Capital."
➥ Insures Canadian mortgage lenders.
4.
Before-tax Income -
Canada Deposit Insurance Co...
Canada Deposit Insurance Co...
