Balance transferThe process of moving an outstanding balance from one credit card to another. This is usually done to obtain a lower interest rate on the outstanding…
BankAmerica has a "dual banking system" which means that both states and the federal government issue bank charters for the need and convenience of their…
bank and trust companyAlso known as commercial banks, bank and trust companies historically concentrated on short-term business loans that were funded with demand deposits.
Bank CustodianA bank custodian is responsible for maintaining the safety of clients' assets held at one of the custodian's premises, a sub-custodian facility or an…
Bank ExaminationExamination of a bank's assets, income, and expenses-as well as operations by representatives of Federal and State bank supervisory authority-to ensure…
bank holding companyA bank holding company controls, directly or indirectly, at least twenty-five percent of any class of voting securities of a bank and meets various other…
Bank StatementPeriodically the bank provides a statement of a customer's deposit account. It shows all deposits made, all checks paid, and other debits posted during…
bankers' bankAn institution owned exclusively by any combination of banks or credit unions and that is organized to do business solely with other banks or credit…
Banking DayA business day during which an office of a bank is open to the public for substantially all of its banking functions.
BankruptA bankrupt person, firm, or corporation has insufficient assets to cover their debts.
BankruptcyThe legal proceedings by which the affairs of a bankrupt person are turned over to a trustee or receiver for administration under the bankruptcy laws.
Bearer SharesMany offshore financial secrecy jurisdictions permit the issuance of bearer shares by corporations chartered in their jurisdiction.
Beneficial OwnershipThis term refers to the true owner of an entity, asset, or transaction as opposed to any stated ownership provided in documents or oral representations.
BeneficiaryA person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract.
Billing CycleThe time interval between the dates on which regular periodic statements are issued.
Billing DateThe month, date, and year when a periodic or monthly statement is generated. Calculations have been performed for appropriate finance charges, minimum…
Billing ErrorA charge that appears on a periodic statement associated with an extension of credit (e.g.
Bond, U.S. SavingsSavings bonds are issued in face value denominations by the U.S. Government in denominations ranging from $50 to $10,000.
branch office, securitiesA location other than the main office at which a broker-dealer or investment adviser conducts a securities or investment advisory business.
branch, bankBranch means any office at a fixed location of a bank, other than the main office, at which deposits are received, checks paid, and money lent, and that…
branch, credit unionBranch means any office established by a credit union at a fixed location, at which shares or deposits are received, share drafts or checks are paid, or…
branch, foreign banksee also Foreign Bank Branches and agencies are the most common structures of foreign banking organizations in the United States.
Broker-dealerA person that buys and sells securities for others or for h the broker-dealer's own account (e.g. proprietary trading).
business and industrial development corporationA business and industrial development corporation is one form of organization for lenders participating in the loan guarantee programs of the federal…
Business DayAny day on which offices of a bank are open to the public for carrying on substantially all of the bank's business.
business opportunityThe sale or lease of products, equipment, supplies or services to enable a person to start his or her own business.