Terms with Category Financial Banking
- Recession — Definition,
- A prolonged period (popularly defined as two successive quarters) in which economic activity shrinks.
- Reciprocal Insurance Exchange — Definition,
- A group of individuals, firms and corporations that mutually insure each other.
- Recognized Gain or Loss — Definition,
- The amount of gain or loss reported for income tax purposes. You may be able to defer recognizing gain or loss on certain property exchanges, such as like-kind exchanges.
- Reconciliation — Definition,
- Checking all bank account papers to make sure that the bank's records and your records agree.
- Refinance — Definition,
- To arrange a new loan for an increased amount or better terms whereby the old loan is paid off from the proceeds of the new loan.
- Refund — Definition,
- To give back, return, or repay.
- Regional Bank — Definition,
- A bank with a primary market in a regional or metropolitan area but takes deposits from throughout the province in which it is located. Usually called a Credit Union in Canada.
- Registered Education Savings Plan (RESP) — Acronym, Canada, Very Important,
- An investment vehicle used for a child's post-secondary education.
➥ RESPs are offered by most financial institutions in Canada. - Registered Retirement Savings Plan (RRSP) — Acronym, Canada, Very Important,
- A savings plan introduced by the federal government to encourage Canadians to save money for retirement. The investment and the interest earned on it is sheltered: it will not be taxed as long as it is left in the plan.
➥ Tax deferred investment contribution used to reduce income tax. - Relocation Benefits — Definition,
- Money and other consideration that an employer gives to employees who move or are transferred at the company's behest. Can include reimbursement for packing and moving, house-hunting trips, and temporary housing and storage.
- Relocation Company — Definition,
- A business that specializes in providing help to employees who move for their employer.
- Remaining Balance — Definition,
- Unpaid principal on a loan.
- Remaining Term — Definition,
- The time it will take to pay off the rest of an instalment loan as scheduled.
- Renewal — Definition,
- Signing on again with the same lender once a term is up.
- Rent — Definition,
- When one party pays another for the use of an asset, service or property.
- Rent-to-Own (RTO) — Acronym,
- An agreement to purchase an asset after a series of rental payments.
- Rental Agreement (RA) — Acronym, Important,
- A document that states the terms and conditions for tenancy of a dwelling.
- Rental Property (RP) — Acronym, Important,
- Property that is occupied by rent-paying tenants and not the owner.
- Repayment Period — Definition,
- In a home equity line of credit, that portion of the life of the loan that follows the draw period. During the repayment period, the borrower cannot take out any more money, but must pay down the loan.
- Repayment Plan — Definition,
- Modification of an existing loan after the borrower has been delinquent. Often used when the borrower misses payments but the lender does not foreclose.
- Repossession — Definition,
- The taking back of property after a borrower has stopped making payments.
- Reserve — Definition,
- Money retained for some future use.
- Restructured Loan — Definition,
- A mortgage in which basic terms -- such as interest rate, term and monthly payment -- have been changed to prevent foreclosure. Not a normal practice in Canada.
- Rests — Definition,
- The periodical balancing of an account for the purpose of converting interest into principal, and charging the party liable thereon with compound interest.
- Retail Banking — Definition,
- Banking services offered to individual customers such as savings accounts, personal loans, cheque cashing, and RRSPs.
- Retained Earnings — Definition,
- All of the profits or losses accumulated from prior years and from the present year's income statement, minus dividends paid to you.
- Return — Definition,
- Any increase in value or in income you earn on purchase or investment.
- Return on Assets (ROA) — Acronym,
- A ratio that shows how profitable a company is when compared to its assets.
- Return on Equity (ROE) — Acronym,
- A ratio that shows how profitable a company is when compared to shareholder equity.
- Return on Investment (ROI) — Acronym, Very Important,
- The profit an investment generates, expressed as equity divided by cash flow.
23.
Recession -
Return on Assets
Return on Assets
