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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

Words categorized under Companies-associations

Air MilesCompany
One of the most popular rewards issued by airline-affiliated co-branded cards. Air miles are earned with every use of the card, and then transferred monthly to the cardholder's account with that airline.
American Express Company (AMEX, AXP)Company
A corporation known for its credit card business.
Bank of Canada (BC, BOC)Company Est.1935, Ottawa, Ontario, Canada
Canada's central bank.
  ➥  Canada's central bank.
Canada Deposit Insurance Corporation (CDIC)Company Est.1967, Ottawa, Ontario, Canada
A crown corporation that provides deposit insurance against the loss of deposits made with member financial institutions.
  ➥  Government of Canada federal crown corporation.
Canada Mortgage and Housing Corporation (CMHC)Company Est.1946, Canada-wide
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.
Canadian Bankers Association (CBA)Company Est.1891, Canada
Professional industry association that provides information, research, advocacy, education and operational support services primarily to the banking industry.
  ➥  One of Canada's oldest business associations.
Canadian Depository for Securities LimitedCompany
Agency responsible for the automatic processing and clearing of all securities transactions in Canada.
Canadian Investor Protection Fund (CIPF)Company Est.1969, Canada
A Canadian not-for-profit that protects investors from a CIPF members' bankruptcy.
  ➥  Non-profit organization that provides investor protection for investment dealer bankruptcy.
Canadian Payments Association (CPA)Company, Canada
This association, which is composed of several financial institutions and the Bank of Canada, operates a national clearing system for financial institution payments.
Chartered Insurance Professionals' Society (CIP Society)Company
An society for FCIP and CIP graduates.
Equifax (EF)Company Est.1899, Canada
A major credit bureau company in Canada along with Trans Union.
Experian (XP)Company, Canada
One of the Big Three credit bureaus, along with Equifax and Trans Union, Experian not normally used in Canada.
facebookDefinition (Companies-associations, Computers-internet)
The world's most used social network launched in 2004.
Finance CanadaCompany, Canada-wide
Federal department responsible for Canada's economic performance and regulation of financial institutions.
GE CapitalCompany
GE Capital is the new CMHC alternative in the Canadian Mortgage Market place. GE Capital like CMHC provides banks/lenders with mortgage insurance. Not to be confused with life or property insurance. In the event of default or foreclosure GE Capital 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 "CMHC."
  ➥  Also offers commercial financing.
Institute of Canadian BankersCompany
An institute that provides education and training programs specific to professionals in the financial-service industry
Insurance Institute of America (IIA)Company
An organization in America for developing curriculums, administrating examinations and providing certification programs for professionals in various insurance industries.
Insurance Institute of Canada (IIC)Company Est.1899, Canada
A group of insurance professionals who work together to provide education and training programs, professional development, and networking for students and insurance professionals.
International Chamber of Commerce (ICC)Definition (Companies-associations, Taxation, Financial-banking)
A world business organization that brings business people and experts together to formulate policies in such areas as banking, taxation and the environment.
International Organization for Standardization (ISO)Company Est.1946, Geneva, Switzerland
An international organization created to promote standardization around the world.
Investment Industry Regulatory Organization of Canada (IIROC)Company, Toronto, Ontario, Canada
An organization that regulates, sets standards, and has quasi-judicial power over securities dealers in Canada.
Lloyd's of LondonCompany
A market for insurance and reinsurance based in London, England where Lloyd's members, underwriters and financial backers can spread and share risk.
Society for Worldwide Interbank Financial Telecommunication (SWIFT)Company
Global data processing system used by banks.
TransUnion (TU)Definition (Mortgages, Companies-associations, Financial-banking)
One of the major Canadian credit bureau companies along with Equifax.
  ➥  See TransUnion Canada.
World Trade Organization (WTO)Company Est.1995
An organization that promotes free trade between nations.
  ➥  Deals with the global rules of trade between nations.

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