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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

Banking Terms

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Foam Lake Savings & Credit UnionBank, Saskatchewan, Canada
  ➥  A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
Fonds Communautaire d'Emprunt de la Mauricie (FCEM)Est. 1999, Quebec, Canada
Providing access to financing, consulting and support to individuals and businesses with limited access to conventional financial services.
  ➥  French acronym for Mauricie Community Loan Fund
Food Family Credit UnionBank, Ontario, Canada
forbearanceDefinition (Mortgages, Financial-banking, Legal-contracts)
Delaying foreclosure, usually because the borrower has arranged to pay the amount in arrears.
foreclosureDefinition (Mortgages, Financial-banking, Legal-contracts)
The legal process by which a borrower in default under a mortgage is deprived of his or her interest in the mortgaged property. This usually involves a forced sale of the property at public auction with the proceeds of the sale being applied to the mortgage debt.
foreign currency (FCY)Definition (Financial-banking)
Paper money and coins from other countries.
foreign currency deposit (FCD)Acronym
foreign currency exchange (FCE)Acronym
foreign currency non-resident (FCNR)Acronym
Bank account for cross border and international trade.
foreign currency surchargeDefinition (Financial-banking)
A fee charged by a credit card company for purchases made in a foreign currency.
foreign exchange (F/X, FE, FOREX, FX)Definition (Investments, Financial-banking, Bank Statements)
Various instruments used to settle payments for transactions between individuals or organizations using different currencies (e.g., notes, cheques, etc.).
  ➥  Bank account transaction code.
foreign exchange rate (FXRate)Definition (Investments, Financial-banking)
The value of a nation's currency in terms of another nation's currency
foreign exchange station (FXS)Acronym
foreign exchange subscriber (FXS)Acronym
foreign investmentDefinition (Investments, Financial-banking)
Investing money into a business in another country.
forfeitureDefinition (Financial-banking, Legal-contracts)
Loss of property because of violation of law or contract.
Fort York Community Credit Union (FYCCU)Bank Est.1950, Toronto, Ontario, Canada
  ➥  Originally incorporated as the Massey Ferguson Employees’ Credit Union.
four pillarsDefinition (Insurance, Financial-banking)
Refers to the main types of financial institutions: banking, trust, insurance, and securities.
franchiseDefinition (Investments, Financial-banking, Legal-contracts)
The right to sell products or services under a corporate name or trade mark (established by someone else). This right is usually purchased for cash in addition to a royalty fee on, or a percentage of, all sales.
fraud prevention & detection (FPD)Acronym
fresh startDefinition (Financial-banking)
The characterization of a debtor's status after bankruptcy. i.e., free of most debts.
friendly takeoverDefinition (Investments, Financial-banking, Legal-contracts)
When a company purchases another and both parties' management approve.
fringe benefitDefinition (Investments, Insurance, Financial-banking)
Employee compensation other than your wages, tips and salaries, such as health insurance, life insurance and pension plans. Usually referred to as a Bonus.
Frontline Financial Credit Union (FFCU)Bank, Ottawa, Ontario, Canada
full income verificationDefinition (Mortgages, Financial-banking)
A requirement for fully documented proof of income; loans of this type usually offer lower interest rates than no-income or "no-doc" verification loans.
funds transfer system (FTS)Acronym
futuresDefinition (Investments, Financial-banking)
Contracts to buy something in the future at a price agreed upon in advance. They first developed in the agriculture commodity markets but often involve foreign exchange, Eurodollar deposits and government bonds.
Ganaraska Credit UnionBank, Ontario, Canada
garnishmentDefinition (Taxation, Financial-banking)
An amount withheld from your pay and remitted to another party, such as a creditor. You must include in your taxable income any amount that was garnished from your pay, because the full amount of your pay is considered to have been received by you even though some was withheld to pay your debts.
Glace Bay Central Credit UnionBank, Nova Scotia, Canada
global investment banking division (GIBD)Acronym
global retail and commercial banking (GRCB)Acronym
Golden Horseshoe Credit Union (GHCU)Bank, Ontario, Canada
Goldman Sachs Canada, Inc. (GSCI)Company, Canada
good creditDefinition (Mortgages, Financial-banking)
Someone who carries little credit risk.
goods and services tax (GS, GST)Canada
A sales tax that applies in all Canadian provinces charged at 5% (as of 2012).
Goodsoil Credit UnionBank, Saskatchewan, Canada
Govan Credit UnionBank, Saskatchewan, Canada
Government Finance Officers Association (GFOA)Company Est.1979
  ➥  The Alberta chapter was established in 1979, but GFOA has been in existence since 1906.
Government National Mortgage Association (GNMA)Company, United States
  ➥  A US mortgage association also known as Ginnie Mae.
grace periodDefinition (Insurance, Financial-banking)
If the credit card user does not carry a balance, the grace period is the interest-free time a lender allows between the transaction date and the billing date. The standard grace period is usually between 20 and 30 days. If there is no grace period, finance charges will accrue the moment a purchase is made with the credit card. People who carry a balance on their credit cards have no grace period.
Grand Bank Development Corporation (GBDC)Company, Grand Bank, Newfoundland, Canada
Grand Forks District Savings Credit Union (GFDSCU)Bank Est.1949, Grand Forks, British Columbia, Canada
Grand River Credit Union (GRCU)Bank Est.1948, Ottawa, Ontario, Canada
  ➥  Joined with Your Neighbourhood Credit Union in October 2007.
Grandview Credit UnionBank, Manitoba, Canada
Greater Vancouver Community Credit Union (GVC, GVCCU)Bank Est.1940, British Columbia, Canada
Greater Victoria Savings Credit Union (GVSCU)Bank, British Columbia, Canada
  ➥  Merged with Vancity Savings Credit Union in 2008.
Grey Bruce Health Services Credit Union (GBHSCU)Bank, Owen Sound, Ontario, Canada
  ➥  Credit Union closed and accounts assumed by Meridian on September 30, 2012.
gross incomeDefinition (Taxation, Financial-banking)
Normal annual income including overtime that is regular or guaranteed. The income may be from more than one source. Salary is generally the principal source, but other income may qualify if it is significant and stable.
gross international reserves (GIR)Acronym
Readily available foreign assets consisting of holdings in gold, special drawing rights (SDR), foreign investment, and foreign exchange.
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Gross OvertimeInstalment

Search the Glossary

Index of Banking Terms

Page 1: 1st Choice Savings and...
Amortized Loan
Page 2: Amount Financed
Automatic Transfer of Loan...
Page 3: Automatic Transfer Service
Before-tax Income
Page 4: Belgian-Alliance Credit...
Caisse d'économie Desjardins...
Page 5: Caisse d'économie Desjardins...
Caisse Desjardins de Hull
Page 6: Caisse Desjardins de...
Caisse Desjardins de Saint...
Page 7: Caisse Desjardins de Saint...
Caisse Desjardins du Haut...
Page 8: Caisse Desjardins du Lac des...
Caisse populaire de Field
Page 9: Caisse populaire de...
Caisse populaire Desjardins...
Page 10: Caisse populaire Desjardins...
Caisse populaire Desjardins...
Page 11: Caisse populaire Desjardins...
Caisse populaire Desjardins...
Page 12: Caisse populaire Desjardins...
Caisse populaire Madawaska
Page 13: Caisse populaire Mer et...
Canadian Payments...
Page 14: Canadian Western Bank
Cheques Returned with...
Page 15: Chequing Account
Commercial Real Estate...
Page 16: Commingling
Credit
Page 17: Credit Card
Debtor
Page 18: Declining Life Insurance
E-cheque
Page 19: Earl Grey Credit Union
Etobicoke Aluminum Employees...
Page 20: Etobicoke Teachers Credit...
Float
Page 21: Foam Lake Savings & Credit...
Gross International Reserves
Page 22: Gross Overtime
Instalment
Page 23: Instant Teller
International Investment...
Page 24: International Journal of...
Ladysmith & District Credit...
Page 25: Lafleche Credit Union
Local Taxes
Page 26: Lock-in
Monetary Policy Committee
Page 27: Monetary Policy Report...
Non-owner Occupant
Page 28: Non-Performing Loan
Ordinary Dividends
Page 29: Ordinary Income
Personal Property Taxes
Page 30: Personal Savings
Private Lender
Page 31: Privately Held Company
Remaining Balance
Page 32: Remaining Term
Same Day Funds Settlement
Page 33: Sandhills Credit Union
Split-Funded Annuity
Page 34: Spread
Tax Liability
Page 35: Tax Lien
Underwriting Expenses
Page 36: Underwriting Guide
Weyburn Credit Union
Page 37: Williams Lake and District...
Zero Balance

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