Banking terms starting with L

20 terms

  1. Large entity Any entity with gross receipts greater than $10 million during the year the reportable transaction occurs or in the preceding taxable year.
  2. Late Charge The fee charged for delinquent payment on an installment loan, usually expressed as a percentage of the loan balance or payment.
  3. Lease A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent).
  4. Legacy Assets ​The Legacy Assets are a portfolio of debt securities held by the Asset Management Estates (AMEs) of failed corporate credit unions.
  5. Lender An individual or financial institution that lends money with the expectation that the money will be returned with interest.
  6. Letter of Wishes A letter of wishes is a document that purportedly has no legal status. In fact the document is used to transmit the wishes of the creator or the alleged…
  7. Lien Legal claim against a property. Once the property is sold, the lien holder is then paid the amount that is owed.
  8. limited branch Limited branch means any office at a fixed location of a Connecticut bank at which banking business is conducted other than the main office, branch or…
  9. limited purpose trust company A limited purpose trust company engages only in fiduciary services. It does not accept deposits, and funds are not insured by the FDIC.
  10. Line of Credit A pre-approved loan authorization with a specific borrowing limit based on creditworthiness.
  11. liquidation The process through which the assets backing a defaulted loan are sold for cash.
  12. Listed transaction A reportable transaction that is the same as, or substantially similar to, a transaction specifically identified by the IRS or FTB as a tax avoidance…
  13. Loan Contract The written agreement between a borrower and a lender in which the terms and conditions of the loan are set.
  14. Loan Fee A fee charged by a lender to make a loan (in addition to the interest charged to the borrower).
  15. Loan Modification Provision A contractual agreement in a loan that allows the borrower or lender to permanently change one or more of the terms of the original contract.
  16. Loan Proceeds The net amount of funds that a lending institution disburses under the terms of a loan, and which the borrower then owes.
  17. Loan-to-Value (LTV) ​The ratio of the outstanding principal amount of a mortgage loan to the appraised value of the mortgaged property.
  18. Loan-to-Value Ratio (LTV) The ratio of the loan principal (amount borrowed) to the appraised value (selling price).
  19. Local Check A check payable by, at, or through a bank in the same check processing region as the location of the branch of the depository bank.
  20. Loss Severity The percentage of realized losses incurred on a loan balance subsequent to liquidation.