Terms with Category Financial Banking

  • Revenue Definition,
    • Money earned by a company from its business activities.
  • Reverse Mortgage Definition, Important,
    • A loan that allows an older homeowner to convert built-up equity into cash. The loan comes due when the owner dies, sells the house or moves out.
  • Reverse Takeover Definition,
    • The purchase of a public company by a private company, often to avoid the IPO process.
  • Revolver Definition,
    • A term credit card issuers use for card holders who roll over part of the bill to the next month, instead of paying off the balance in full each month. About seven out of 10 cardholders revolve the debt.
  • Revolving Credit Definition,
    • A line of credit that does not have a specified repayment schedule but may require a minimum payment to cover interest and contribute to paying off principal. Typical of credit card loans, chequing account cash reserve or overdraft accounts that have pre-approved lines of credit.
  • Revolving Line of Credit (RLOC) Acronym,
    • An agreement to lend a specific amount to a borrower, and to allow that amount to be borrowed again once it has been repaid. Most credit cards offer revolving credit.
  • Right of First Refusal Definition,
    • An agreement by an owner to give another party an opportunity to buy the property before it is offered to anyone else.
  • Roll In Loans Definition,
    • A refinancing loan that rolls any closing costs or fees into the loan. These programs best serve people who have a reasonable amount of home equity, want to reduce their overall interest expense, and plan to stay in their homes.
  • Roll Over Mortgage Definition, Important,
    • A type of loan where the interest rate is set for a specific term. At the end of this term, the mortgage is said to "roll-over" and the borrower and lender may agree to extend the loan. If satisfactory terms cannot be agreed upon, the lender is entitled to be repaid in full. In this case, the borrower may seek alternative financing.
  • Royalty Income Definition,
    • Payment for the use and exploitation of certain kinds of property, such as artistic or literary works, patents and mineral rights.
  • Sale Price Definition,
    • The price that is paid for an asset.
  • Sales Tax Definition,
    • Federal and / or provincial taxes that are applied to purchases.
  • Savings Account Definition,
    • A financial account that pays interest with low risk.
  • Schedule I Banks Definition,
    • A designation in the Bank Act that refers to Canadian-owned banks that are widely held, i.e., ones in which no one owner holds more than 10% of shares.
  • Schedule II Banks Definition,
    • A designation in the Bank Act that refers to foreign-owned banks and closely held Canadian banks, i.e., banks in which an owner may hold more than 10% of outstanding stock.
  • Schedule III Banks Definition,
    • Foreign banks not incorporated under the bank act that are allowed to conduct business in Canada.
  • Seasonal Unemployment Definition,
    • The loss of jobs due to changes in the climate and other conditions. Forestry, fishing and construction are affected by climate, while retailing is affected by seasons and holidays. For instance, at Christmas, retail employment is higher than in January.
  • Secondary Market Definition,
    • A market where financial instruments such as stocks, bonds, options and futures are bought and sold to investors.
  • Secondary Mortgage Market Definition, Important,
    • The trade in home loans that are bundled together and sold as securities to investors. It frees money so more people can get mortgages.
  • Secured Credit Card Definition,
    • A credit card that a cardholder secures with a savings deposit to ensure payment of the outstanding balance if the cardholder defaults on payments. It is used by people new to credit, or people trying to rebuild their poor credit ratings.
  • Secured Debt Definition,
    • A debt that is secured by a lien on debtor's property that may be taken by the creditor in case of non-payment by the debtor. A common example is a mortgage loan.
  • Secured Loan Definition,
    • Borrowed money that is backed by collateral.
  • Securities/Investment Dealer Definition,
    • One who acts as the agent for another party to buy and sell securities and other investments; also an underwriter.
  • Security Definition,
    • A tradable financial implement that represents ownership, the rights to ownership or debt.
    • Property designated as collateral.
    • A document stating ownership of a stock or bond.
  • Seed Funding Definition,
    • Money used to start a business.
  • Selection Bias Definition,
    • A statistical error made when non-random data is added into a dataset.
  • Self Employed Person (SEP) Acronym,
    • A person who runs a trade or business, rather than working as an employee for someone else. You are self-employed if you are a sole proprietor or a partner working in a business. You can be an employee and self-employed at the same time if you have an independent business outside your regular employee hours. To qualify for many business tax exclusions and deductions, the enterprise must make a profit in three of five years. In most cases in order to qualify you must take and average of the last 2-3 years tax assessments.
  • Self Insurance Definition,
    • Setting aside money or assets for a potential future loss.
  • Self-Selection Bias Definition,
    • A selection bias that occurs when individuals join a sample group voluntarily.
  • Seller's Market Definition,
    • Due to either low supply or high demand, the seller can expect to sell quickly with a high sale price.
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