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Canadian Financial, Real Estate and Mortgage Glossary

Banking Terms

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Monetary Policy Report...Non-owner Occupant
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Non-Performing Loan — Ordinary Dividends
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Ordinary IncomePersonal Property Taxes
non-performing loan (NPL)Acronym
A mortgage loan that is in default or where the debtor is delinquent in making payments.
non-recourse debtDefinition (Mortgages, Financial-banking)
A loan secured by collateral where the borrower is not personally liable.
non-refundable creditDefinition (Taxation, Financial-banking)
Tax credits reduce your tax liability dollar-for-dollar. Non-refundable credits can get your tax bill down to zero.
non-resident tax (NR)Acronym (Bank Statements)
  ➥  Bank account transaction code.
non-sufficient funds (NSF)Definition
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).
nonborrowed reserves (NBR)Acronym
North Peace Savings and Credit UnionBank, British Columbia, Canada
  ➥  A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
North Shore Credit Union (NSCU)Bank Est.1941, North Vancouver, British Columbia, Canada
North Sydney Credit UnionBank, Nova Scotia, Canada
North Valley Credit UnionBank, Saskatchewan, Canada
North Winnipeg Credit Union (NWCU)Bank Est.1943, Winnipeg, Manitoba, Canada
Northern Credit Union (NCU)Bank Est.1957, Ontario, Canada
Northern Lights Credit Union (NLCU)Bank Est.1947, Ottawa, Ontario, Canada
Northern Savings Credit UnionBank, British Columbia, Canada
Northridge Savings & Credit Union (NSCU)Bank, Canada
not good (NG)Acronym
not service chargeable (DN)Acronym (Bank Statements)
not-for-profitDefinition (Taxation, Financial-banking, Legal-contracts)
An Organization operated solely for: social welfare, civic improvement, pleasure or recreation, or any other purpose except profit.
noteDefinition (Investments, Financial-banking, Legal-contracts)
A legal acknowledgement of a debt and an implicit promise to repay. It includes the loan amount, interest rate and term.
note rateDefinition (Mortgages, Financial-banking)
The percentage paid by a borrower for the use of money, usually expressed as an annual percentage on a promissory note.
Nova Scotia Credit Union Deposit Insurance Corporation (NSCUDIC)Bank, Bedford, Nova Scotia, Canada
Noventis Credit UnionBank, Manitoba, Canada
nsfDefinition (Financial-banking)
NSF means Non-sufficient Funds.
nsf charge (RC)Acronym (Bank Statements)
nsf chequeDefinition (Financial-banking)
If a cheque is returned for this reason, it means that there was not enough money in your bank account to cover the amount of the cheque. There is a fee to you if this situation occurs.
number of free transactions per monthDefinition (Financial-banking)
The number of transactions an account holder is allowed to make before being charged a fee. If the limit is exceeded, a per-item charge is applied. Some accounts offer an unlimited number of free transactions or no free transactions per month.
Oakbank Credit UnionBank, Manitoba, Canada
off-balance sheet (OBS)Acronym
Office of the Comptroller of the Currency (OCC)Company
Office of the Superintendent of Financial Institutions (OSFI)Company, Canada
offline debit cardDefinition (Financial-banking)
A card with traits from both ATM cards and credit cards (usually VISA or MasterCard). Banks issue this type of card either instead of or in addition to an ATM card. The card can be used anywhere the VISA or MasterCard logo is displayed, but a line of credit is not accessed -- the customer's chequing account is debited. It is "offline" because the account is not directly accessed -- there is a delay of 24 to 72 hours before the debit is made in the account. If you sign a slip of paper to complete the transaction, it is offline. In the Canada, a Personal Identification Number (PIN) may be required to use an offline debit card.
Offshore Group of Banking Supervisors (OGBS)Company
Ombudsman for Banking Services and Investment (OBSI)Company Est.1996, Canada
Omista Credit UnionBank, New Brunswick, Canada
online banking (OLB)Definition (Financial-banking)
Access by personal computer or terminal to bank information, accounts and certain transactions via the financial institution's web site on the Internet. Also known as Internet banking.
online banking & investing (OBI)Acronym
online banking report (OBR)Acronym
online banking security number (OBSN)Acronym
online banking solutions (OBS)Acronym
online bill paymentDefinition (Financial-banking)
A service offered by online banks, usually for a small monthly fee, that relieves consumers from having to write cheques and lick stamps to pay their monthly bills. Online bill payment systems allow people to enter the names of their creditors and the numbers of their utility accounts and pay virtually all routine bills.
online debit cardDefinition (Financial-banking)
A method of payment in the form of a card that immediately deducts funds from a person's bank account when used. The card may have a VISA or MasterCard logo on it, or just the name of the bank that issued the card, similar to an ATM card.
online debit purchase (OL)Acronym (Bank Statements)
online debit refund (OV)Acronym (Bank Statements)
Ontario Educational Credit Union (OECU)Bank Est.1962
Ontario Provincial Police Association Credit Union (OPPA, OPPACU)Bank, Ontario, Canada
onus itemDefinition (Financial-banking)
A payment that is deposited at the same financial institution in which it was drawn or written. For example, a cheque that is written by one bank customer and deposited by the recipient at another branch of the same bank. These items are not cleared between institutions and therefore are not represented in statistics of payments exchanged between financial institutions in the clearings.
open-end leaseDefinition (Automotive, Financial-banking)
Sometimes called a finance lease. It usually offers lower payments, but carries a risk for the consumer. Under an open-end lease, the lessee must pay any difference between the residual value of the car as stated in the lease and the fair market value of the car, if lower, at the end of the lease. The lessor pays for the appraisal that sets the value. If the consumer doesn't agree with it, the consumer may pay for a binding, independent appraisal by someone agreed to by both parties.
operating loanDefinition (Financial-banking)
A loan intended for short-term financing, supplying cash flow support or to cover day-to-day operating expenses.
optionDefinition (Financial-banking, Legal-contracts)
A legal agreement giving someone the right to buy, sell or lease a property or item at specified terms for a specified period.
ordinary dividendsDefinition (Investments, Taxation, Financial-banking)
The distribution of a company's profits that are subject to full taxation.
Previous Page
Monetary Policy Report...Non-owner Occupant
Currently Displayed — Page 28
Non-Performing Loan — Ordinary Dividends
  Next Page
Ordinary IncomePersonal Property Taxes

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
Page 17: Credit Card
Page 18: Declining Life Insurance
Page 19: Earl Grey Credit Union
Etobicoke Aluminum Employees...
Page 20: Etobicoke Teachers Credit...
Page 21: Foam Lake Savings & Credit...
Gross International Reserves
Page 22: Gross Overtime
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

Notable Terms

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