Search results for: “bank rate”
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Mutual Savings Bank
Concept of Mutual Savings Bank in the context of Real Property A short definition of Mutual Savings Bank: An institution owned by its depositors, as evidenced by certificates of deposit rather than stock. These institutions are active in long term real estate financing, as opposed to […]
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Rate Lock
An agreement between the mortgage banker and the loan applicant guaranteeing a specified interest rate for a designated period, usually 60 days….
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Rate Lock
An agreement between the mortgage banker and the loan applicant guaranteeing a specified interest rate for a designated period, usually 60 days….
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Branch Bank
An office of a bank physically separate from its main or home office, especially one offering full banking services (i.e., not just an office for deposits, cashing checks, etc.). In some states, in an apparent attempt to keep small, especially rural, banks from having to compete with branches […]
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Bankruptcy Clause
A clause in many contracts, especially those involving real property, terminating or permitting one party to terminate the relationship (e.g., a lease) or accelerate its maturity (e.g., a mortgage) if the other is the subject of a voluntary or involuntary bankruptcy proceeding….
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Bank Holding Company
A corporation controlling one or more commercial banks, or a commercial bank and some other enterprise. There are primarily two varieties, correlating with two strategies for evading regulation. The first type was set up to get out from under restrictions on branch banks; if a bank […]
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Bank Of North Dakota
The only bank in the U.S. owned and operated by a state….
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Banker’s Note
A bank note issued by a private, unincorporated bank or banker….
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Rate Risk
In banking, the risk that profits may decline or losses occur because a rise in interest rates forces up the cost of funding fixed-rate loans or other fixed-rate assets….
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Federal Funds Rate
This is the interest rate that banks with excess reserves at a Federal Reserve district bank charge other banks that need overnight loans. The Fed Funds rate, as it is called, often points to the direction of U.S. interest rates….
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Corporate Processing Float
The time that elapses between receipt of payment from a customer and the depositing of the customer’s check in the firm’s bank account; the time required to process customer payments….
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Clearing House Interbank Payments System (Chips)
An international wire transfer system for high-value payments operated by a group of major banks….
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Call Money Rate
Also called the broker loan rate , the interest rate that banks charge brokers to finance margin loans to investors. The broker charges the investor the call money rate plus a service charge….
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Bankruptcy Proceedings
Bankruptcy Proceedings Definition of Bankruptcy Proceedings While bankruptcy may be defined by “The state of being actually or legally bankrupt” or “The act or process of becoming a bankrupt”, Bankruptcy Proceedings includes all proceedings in a federal court having jurisdiction in bankruptcy, procedure by which a debtor, starting bankruptcy proceedings —may be an individual, corporation,…
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Banker’s Note
A promissory note given by a private banker or banking institution not incorporate, but resembling a bank note in all other respects. 6 Mod. 29; 3 Chit. Com. Law, 590; 1 Leigh, N. P. 338. …