Terms with Category Financial Banking

  • Income-splitting Bank,
    • A financial strategy used for tax purposes to reduce the overall tax burden on a family. Income is shifted from one family member to another who is in a lower tax bracket, so the income is taxed at the lower rate to save the family money.
  • Incorporated Business Bank,
    • A company that exists as a corporation.
  • Independent Bank Bank,
    • A locally owned bank that is operated without being affiliated with a bank holding company. Also known as a community bank.
  • Index Bank,
    • A table of yields or interest rates being paid on debt (such as Treasury notes or bank deposits) that is used to determine interest-rate changes.
  • Indirect Tax Bank,
    • A tax that is collected by a third party before being transferred to the government.
  • Inflation Bank,
    • A rise in the average level of prices in the economy.
  • Informal Trust Bank,
    • Also known as in-trust account or "bare" trust, this is an investment account registered in an adult's name in trust for a child. The account is used to save/invest funds for a child, and the funds must be reserved for and used by the beneficiary child.
  • Initial Public Offering (IPO) Bank,
    • When shares of a corporation become available to the public for the first time.
  • Instalment Bank,
    • The regular periodic payment that a borrower agrees to make the lender.
  • Institute of Canadian Bankers Bank,
    • An institute that provides education and training programs specific to professionals in the financial-service industry
  • Insufficient Funds (ISF) Bank,
    • When funds are not enough to satisfy the payment of a cheque or draft made on that account; also known as non-sufficient funds (NSF).
  • Insurable Interest Bank,
    • Something of sufficient worth and benefit that an individual or entity would have reason to insure against its lost.
  • Insurance Cycle Bank,
    • A cycle of soft and hard market conditions observed in the insurance and underwriting industry.
  • Insurance Proceeds Bank,
    • The benefits received by an individual after a claim has been verified.
  • Insurance Score Bank,
    • A score used by those in the insurance industry to determine how likely a claim will need to be paid out for an individual or entity.
  • Intangible Asset Bank,
    • Non-physical resources or rights to other assets. Patents, goodwill, permits and computer programs are examples of intangible assets.
  • Intangible Property Bank,
    • Property that does not have value itself, but represents something else. Stocks, bonds and franchises are examples of intangible property. Business furniture and equipment are examples of tangible personal property.
  • Interac Bank,
    • Canada's largest shared network of ATMs. It allows cardholders to access their accounts from any ATM on the network regardless of which financial institution owns the machine.
  • Interac Direct Payment (IDP) Bank,
    • A method of paying for goods and services electronically with the funds taken immediately and directly from your bank account and transferred directly into the merchant's account. You use your banking card to do this.
  • Interest (IN, int) Bank,
    • Money paid for the use of borrowed funds, usually expressed as an annual percentage.
    Bank account transaction code.
  • Interest Adjustment Date Bank,
    • The date one month prior to the beginning of amortization when accrued interest computed on the monies advanced becomes due.
  • Interest Factor Bank,
    • The decimal equivalent for an interest rate on a unit amount for a period of time. Computed by interest rate divided by number of days in a basic year times the number of days accrued.
  • Interest Only Payments Bank,
    • A payment plan where only the interest is paid off.
  • Interest Rate (IR) Bank, Very Important,
    • The rate a lender charges an individual to borrow money.
  • Interest Rate Differential (IRD) Bank, Very Important,
    • The penalty one pays for breaking a mortgage.
  • Interest-Crediting Methods Bank,
    • A number of methods used to establish how interest is accrued, owed and dispersed to the parties due.
  • Interim Financing Bank,
    • The availability of funds on a daily basis to assist a developer with financing for a construction project between advances made by the lender of the construction loan.
  • Internal Rate of Return (IRR) Bank, Important,
    • That rate at which the present worth of all present and future investment costs equals the present worth of all present and future investment benefits.
  • International Banking Bank,
    • The operation of bank branches and subsidiaries located outside Canada. This area of banking also includes the supervision of correspondent banking relationships, foreign exchange trading, and trade finance.
  • International Chamber of Commerce (ICC) Bank,
    • A world business organization that brings business people and experts together to formulate policies in such areas as banking, taxation and the environment.
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