Banking definitions beginning with I

The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures.
The Office of the Comptroller of the Currency - Cite This Source - This Definition
Browse Related Terms: Accrued interest, Billing cycle, Billing error, Periodic statement, Previous balance, Residual interest

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The term international business corporation or IBC refers to a corporation formed in an offshore financial secrecy jurisdiction which is afforded certain tax advantages and protection as to the disclosure of its beneficial owner. Depending on the offshore financial secrecy jurisdiction, shareholders of the IBC may remain confidential through the use of bearer shares.Just as with U.S. corporations, the same person may act as a shareholder, director, president, agent, or as any other officer within the company. Generally, however, the beneficial owner(s) will appoint resident officers and directors for the IBC. Typically an IBC is authorized to do business anywhere in the world except in its home country where it was incorporated (i.e. an IBC formed in The Bahamas may do business anywhere in the world except The Bahamas). The IBC may purchase real estate, cars, businesses, etc. The beneficial owner may act as an agent of the IBC to purchase assets on its behalf. By this means, assets are held under a corporate name, thereby helping to protect the beneficial owner's privacy. It has been reported that there are over one million IBCs formed in offshore jurisdictions worldwide.
IRS - Cite This Source - This Definition
Browse Related Terms: Bearer Shares, Beneficial Ownership, Letter of Wishes, Nominee, Nominee Director, Offshore Mail Forwarding Address, Offshore Trustee

Any person who, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or the advisability of investing in, purchasing or selling securities. Generally, an investment adviser must register with the Connecticut Department of Banking if it has less than $25 million in assets under management. Investment advisers having $25 million or more in assets under management must usually register with the federal Securities and Exchange Commission (the "SEC") rather than the state. State registration is triggered when a Connecticut investment adviser services Connecticut clients or clients located in another jurisdiction. State registration also is required where a non-Connecticut state-regulated investment adviser services more than five clients located in Connecticut.
Connecticut Deptartment of Banking - Cite This Source - This Definition
Browse Related Terms: agent, agent of issuer, broker-dealer, investment adviser agent, registration by coordination, registration by qualification, regulation a, regulation d, small corporate offering registration (scor) (see registration by qualification)

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An investment adviser agent includes any individual employed, appointed or authorized by an investment adviser 1) to solicit business on a compensated basis for the adviser within or from Connecticut; or 2) who is compensated for rendering advice on securities to clients. A sole proprietor of an investment adviser is not an investment adviser agent. Corporate officers and partners of a partnership may be investment adviser agents if they perform the functions of investment adviser agents. Investment advisers may only employ investment adviser agents in Connecticut if the investment adviser agents are registered under the Connecticut Uniform Securities Act. Investment adviser agent registration may be required even if the investment adviser is SEC-registered.
Connecticut Deptartment of Banking - Cite This Source - This Definition
Browse Related Terms: agent, agent of issuer, broker-dealer, investment adviser, registration by coordination, registration by qualification, regulation a, regulation d, small corporate offering registration (scor) (see registration by qualification)

Issuer means any person who issues or proposes to issue any security. Corporations, for example, may issue stock to the public, limited partnerships may issue limited partnership interests, limited liability companies may issue membership interests, and so forth.
Connecticut Deptartment of Banking - Cite This Source - This Definition
Browse Related Terms: Authorization, Credit card issuer, debt adjuster

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