International Banking

Definition

  • The area of banking business that includes the operation of bank branches and subsidiaries located outside Canada, the supervision of correspondent banking relationships, foreign exchange trading and trade finance.

Synonyms
world banking, offshore banking, foreign banking

Related Terms and Acronyms

  • Bank Definition,
    • An institution that acts as a financial intermediary by receiving money from depositors and lenders and also lending to borrowers.
  • Canadian Bankers Association (CBA) Company Est. 1891, Canada, Very Important,
    • Professional industry association that provides information, research, advocacy, education and operational support services primarily to the banking industry.
    One of Canada's oldest business associations.
  • Central Bank Definition,
    • An institution that manages a nation's monetary policy.
  • Electronic Commerce Definition,
    • The purchase or sale of products and services through an electronic system such as the Internet.
  • Electronic Funds Transfer (EFT) Acronym, Important,
    • The transfer of money between accounts by consumer electronic systems such as automated teller machines (ATMs), and electronic payment of bills.
    Also known as e-Transfer.
  • Foreign Currency (FCY) Acronym,
    • Paper money and coins from other countries.
  • Foreign Exchange (FOREX, FE, F/X, FX) Acronym,
    • Various instruments used to settle payments for transactions between individuals or organizations using different currencies (e.g., notes, cheques, etc.).
    Bank account transaction code.
  • Large Value Transfer System (LVTS) Acronym,
    • System being created by the Canadian Payments Association that will settle large value payments, possibly $50,000 and over, at the central bank on a same-day basis.
  • Lender Definition,
    • The bank or mortgage company offering the loan.
  • North American Free Trade Agreement (NAFTA) Acronym,
    • An agreement between the United States, Canada, and Mexico that allows for freer trade between the three countries.
  • Note Definition,
    • A legal acknowledgement of a debt and an implicit promise to repay. It includes the loan amount, interest rate and term.
  • 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.
  • Specialized Financing Corporation Definition,
    • A term in the Bank Act referring to specialized business-management services such as making investments, negotiating mergers and acquisitions and many other services traditionally offered as merchant-banking services.
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