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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

Banking Terms

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Belgian-Alliance Credit UnionBank, Manitoba, Canada
  ➥  A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
Bengough Savings & Credit UnionBank, Saskatchewan, Canada
Bergengren Credit UnionBank, Nova Scotia, Canada
best's capital adequacy relativityDefinition (Insurance, Financial-banking)
A percentage used to measure a company's relative capital strength as compared to an industry peer composite.
Biggar & District Credit UnionBank, Saskatchewan, Canada
bilateral contractDefinition (Real-estate, Financial-banking, Legal-contracts)
A legal agreement in which both parties promise to give each other something. A purchase agreement in which the buyer promises to give money and the seller promises to transfer property is a bilateral contract.
bill payment cancelled (BC)Acronym (Bank Statements)
  ➥  Bank account transaction code.
bill presentmentDefinition (Financial-banking)
An online system that allows customers to receive and view the bill on a computer, and then pay the bill electronically. Users can pay their bills immediately and the money is transferred from the account.
billing cycleDefinition (Financial-banking)
The number of days between the last statement date and the current statement date.
billing statementDefinition (Financial-banking)
A monthly bill that is sent by a creditor to the customer that provides a summary of the activity on an account. This can include balances, purchases, payments, credits, and finance charges.
blank chequeDefinition (Financial-banking)
A cheque that does not have a dollar amount written on it.
bondDefinition (Investments, Financial-banking)
A certificate of debt issued by a government or corporation guaranteeing payment of the original investment plus interest by a specified future date.
bond ladderDefinition (Investments, Financial-banking)
A series of bonds with different maturity dates, often times evenly spaced over a set period of time.
book valueDefinition (Real-estate, Insurance, Financial-banking, Legal-contracts)
The value of a property, item or company as a capital asset based on its cost plus any additions, subtracting depreciation.
bootDefinition (Automotive, Real-estate, Financial-banking)
Cash or other property used in an exchange to make the values of property traded equal. For instance, if you trade in a delivery truck on a new model, the cash you pay in addition to your old truck is boot.
borrowDefinition (Real-estate, Financial-banking)
To get a loan of money.
borrowerDefinition (Investments, Mortgages, Financial-banking)
A person who borrows money or obtains a loan.
Bow Valley Credit Union (BVCU)Bank, Alberta, Canada
branch number (BN)Canada
  ➥  Same as Transit Number which is then usually accompanied by an Institution Number and an Account Number.
bridge financingDefinition (Mortgages, Real-estate, Financial-banking)
A short-term, high interest loan that allows a seller to purchase a new property before selling an existing property.
bridge loanDefinition (Mortgages, Real-estate, Financial-banking)
A loan that "bridges" the gap between the purchase of a new home and the sale of the borrower's current home. The borrower's current home is used as collateral and the money is used to close on the new home before the current home is sold. Some are structured so they completely pay off the old home's first mortgage at the bridge loan's closing, while others pile the new debt on top of the old. They usually run for a term of six months.
bridge mortgageDefinition (Mortgages, Financial-banking)
A short-term loan used to allow a homebuyer to purchase a replacement property while still trying to sell their existing home.
British American Bank Note Company (BABN)Company Est.1866, Montreal, Quebec, Canada
  ➥  Canadian printing firm.
Broadview Credit UnionBank, Saskatchewan, Canada
broker (Bkr)Definition (Mortgages, Real-estate, Insurance, Financial-banking, Abbreviation, Legal-contracts)
A person or firm who acts on behalf of another.
broker-agentDefinition (Investments, Insurance, Financial-banking)
An individual, usually in the employ of an insurance company, that is licensed as both an insurance broker and agent.
Bruno Savings & Credit UnionBank, Saskatchewan, Canada
Buduchnist Credit Union (BCU)Bank, Toronto, Ontario, Canada
Bulkley Valley Credit UnionBank, British Columbia, Canada
bull marketDefinition (Investments, Financial-banking)
When stock prices are increasing and it's a healthy market, this is known as a bull market.
business (busn)Definition (Investments, Financial-banking, Abbreviation, Legal-contracts)
A company, either for-profit or non-profit.
business action to stop counterfeiting and piracy (BASCAP)Acronym
business bankruptcyDefinition (Financial-banking)
A bankruptcy case in which the debtor is a business or an individual involved in business and the debts are for business purposes.
business continuation insuranceDefinition (Insurance, Financial-banking)
Insurance that provides coverage in the event that someone integral to the operation of a business dies or becomes disabled.
Business Development Bank of Canada (BDC)Company Est.1944, Canada
Assists in the creation and development of Canadian businesses through financing, venture capital and consulting services, with a focus on small and medium-sized enterprises (SMEs).
  ➥  Formerly known as the Industrial Development Bank (IDB) with roots as far back as 1939.
business interest expenseDefinition (Taxation, Financial-banking)
Interest acquired in business operations can be deducted as a business expense.
business line of credit (BLOC)Acronym
business net retentionDefinition (Investments, Insurance, Financial-banking)
A measure of the gross writings retained by a company for their own account.
business online banking (BOB)Acronym
business revolving line of credit (BRLOC)Acronym
buyer's marketDefinition (Investments, Real-estate, Financial-banking)
When market conditions favour the buyer.
Caisse d'économie CantonsBank, Quebec, Canada
Caisse d'économie Centre du QuébecBank, Quebec, Canada
Caisse d'economie de l'Enseignement de l'Est du QuébecBank, Quebec, Canada
Caisse d'économie des travailleurs unis (Montréal-Outaouais)Bank, Quebec, Canada
Caisse d'économie Desj Chaînon-Honoré-MercierBank, Quebec, Canada
Caisse d'économie Desjardins de la Métallurgie et des Produits forestiersBank, Quebec, Canada
Caisse d'économie Desjardins des employés d'Alcoa-Manic-McCormickBank, Quebec, Canada
Caisse d'économie Desjardins du personnel municipal (Québec)Bank, Quebec, Canada
Caisse d'économie Desjardins Du RailBank, Quebec, Canada
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Automatic Transfer...Before-tax Income
 
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Belgian-Alliance Credit... — Caisse d'économie Desjardins...
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Caisse d'économie...Caisse Desjardins de Hull

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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