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Banking Terminology
| Question | Answer | Flap 3 |
|---|---|---|
| ECT Act | South Africa passed the Electronic Communications and Transactions Act in summer 2002. This law was designed to handle all problems with electronic data, including government Internet-based services, cryptography, digit signat, public Internet acces, etc. | regulates spam |
| UBS | Union Bank of Switzerland.->largest private bank | (blank) |
| Merrill Lynch. | most profitable private bank | (blank) |
| Private Banking | Beyond just providing credit or managing investments, private banking addresses your entire financial situation. Services include everything from protecting and growing your assets in the present, to planning retirement and passing wealth on to future gen | usually with liquid wealth of above 1 million dollars->minimizing taxes via careful allocation of assets->usually combines trust services, investment services, banking services, and tax services. |
| private equity | which is essentially share ownership of a company not available for the general public to buy in a stock market. | (blank) |
| Financial services | largest industry (or category of industries) in the world in terms of earnings->to the services provided by the finance industry. Banks, insurance companies, investment banks, and brokerages, | money and investment and related services. |
| Citigroup | largest financial services company in the world->merger of Citicorp and Travelers Group | (blank) |
| dunning | Mahnwesen | (blank) |
| Accounts payable | (blank) | (blank) |
| Accounts receivable | (blank) | (blank) |
| Reconciliation of accounts | (blank) | (blank) |
| Structuring Department (Reg. Sales Switzerland) | (blank) | (blank) |
| Portfolio Manager | The person responsible for investing a mutual fund's assets, implementing its investment strategy, and managing the day-to-day portfolio trading->PM one of the most important factors to consider when looking at a mutual fund. | (blank) |
| CFP | Certified Financial Planner->demonstrated competency in all areas of finance related to financial planning->including stocks, bonds, taxes, insurance, retirement planning and estate planning | (blank) |
| financial planner | works with individuals to help them understand their options and make financial decisions suited to their personal financial situation and goals.->a lot of trust is placed->clients can check CFP | (blank) |
| CFA | Chartered Financial Analyst->candidates have to complete at least 3 yrs work-experience. ->ethical and professional standards, economics, portfolio management and security analysis | CFA charter holders tend to be analysts who work in the field of institutional money management and stock analysis, not financial planning->provide research and ratings on invest.=>considered the equivalent of a Masters Degree in Finance |
| CIMA | Certified Investment Management Analyst->focuses on asset allocation,ethics, due diligence, risk measurement, investment policy and performance measurement. Requirm: 3 yrs investment consultants->signifies a high level of consulting expertise | CIMA holders are required to prove their expertise through cont. recertification->CIMA designation holders tend to have careers with financial consulting firms, which involves extensive interaction with clients and the management of large amounts of money |
| Asset allocation | The process of dividing a portfolio among major asset categories such as bonds, stocks or cash. The purpose of asset allocation is to reduce risk by diversifying the portfolio | The ideal asset allocation differs based on the risk tolerance of the investor. For example, a young executive might have an asset allocation of 80% equity, 20% fixed income, while a retiree would be more likely to have 80% in fixed income and 20% equitie |
| CPA | Certified Public Accountant->passed examinations on accounting and tax preparation->however, if individuals are interested in gaining expertise in financial planning in order to supplement their accounting careers need to become certified as | personal finance specialists (PFS). |
| Structured Finance | service offered by many large financial institutions for companies with very unique financing needs. These financing needs usually don't match conventional financial products such as a loan. Structured finance generally involves highly complex fin. transa | non-standard" way of raising money->tailor-made securities->beyond "standard" securities like conventional loans, debentures, debt, and equity->bcs. standart money raising may be too unattractive, unavailable or too expensive |
| Remittacne | die Geldüberweisung, beschaffung, die Ueberweisung | (blank) |
| Syndicate | association of people or firms authorized to undertake a duty or transact specific business, ->To sell shares in. | (blank) |
| Syndicated Loan | A very large loan in which a group of banks work together to provide funds for one borrower. There is usually one lead bank that takes a small percentage of the loan and syndicates the rest to other banks. | (blank) |
| CRD | Content and Research Development Team (Man Investment) | (blank) |
| General Ledger | A company's accounting records. This formal ledger contains all the financial accounts and statements of a business. | The ledger uses two columns: one records debits, the other has offsetting credits. |
| Consolidation | A term used mainly by technical analysts to refer to the movement of a stock's price within a well-defined pattern or barrier of trading levels-> The levels of resistance and support within the consolidation are created through the upper and lower bounds | (blank) |
| Bank Reconciliation Statement | A form that allows individuals to compare their personal bank account records to the bank's records of the individual's account balance in order to uncover any possible discrepancies.-> Since there are timing differences between when data is entered in | the individual's system, there is sometimes a normal discrepancy between account balances. The goal of reconciliation is to determine if the discrepancy is due to error rather than timing. |
| Affiliated Companies | A situation that occurs when one company owns a minority interest (less than 50%) in another company. | An affiliated company is sometimes referred to as a subsidiary. |
| SAP | Statutory Accounting Principles ->A set of accounting regulations prescribed by the National Association of Insurance Commissioners for the preparation of an insuring firm's financial statements | Filings prepared using SAP are submitted to individual state regulatory bodies; SAP are regarded as more regulatory and conservative than the GAAP method of preparing financial statements. |
| GAAP | Generally Accepted Accounting Principles->common set of accounting principles, standards and procedures. GAAP is a combination of authoritative standards (set by policy boards) and the accepted ways of doing accounting. | rules that companies are expected to follow. If a financial statement is not prepared using GAAP principles, be very wary->That being said, keep in mind that GAAP is only a set of standards. There is plenty of room within GAAP for unscrupulous accountants |
| Custody-Only Trading | A system in which shares must be registered to the holder by name and can only be traded in physical form.->The adoption of custody-only trading requires any purchases or transfers of stock to be placed through the issuing company's transfer agent. | Some companies implement custody-only trading because it protects shareholders from naked short sellers as the shares must be physically held by the seller. |
| Fund Manager | The person responsible for investing a mutual fund's assets, implementing its investment strategy, and managing the day-to-day portfolio trading.->The whole point of investing in a mutual fund is to leave stock picking to professionals.-> | Therefore, the fund manager is one of the most important factors to consider when looking at a mutual fund->past performance will tell you a lot |
| Portfolio Manager | The person responsible for investing a mutual fund's assets, implementing its investment strategy, and managing the day-to-day portfolio trading. ->The portfolio manager is one of the most important factors to consider when looking at a mutual fund. | (blank) |
| mutual fund | Invest firm that cont offers new shares & buys existing shares back at the request of shareholder & uses capital to invest in diversified secur of other firms->company/trust that has a very fluid capital stock->MF wins secur. of sev corps.&receives divide | sell/redeem any of outstanding shareearnings r distributed->diversification=>security that gives small invest access to diversified portfolio of equities,bonds&other securts->It has been shown that majority of mutual funds fail to beat market. |
| Common mutual funds | which often provide skilled management for security holdings, include stock, bond, balanced, index, and money-market funds. | (blank) |
| Stock funds | mainly invest in common shares | (blank) |
| bond funds | mainly invest in bonds (such as Internet stocks or municipal bonds). | (blank) |
| Balanced fund | might invest in preferred stocks and bonds in addition to common stocks | (blank) |
| Index funds | invest in a portfolio that mimics a given index, such as the stocks that make up the S&P 500. | (blank) |
| Wealth Management | A professional service which is the combination of financial/investment advice, accounting/tax services, and legal/estate planning for one fee.->In general, wealth management is more than just investment advice, as it can encompass all parts of a person's | (blank) |
| Contingency | An economic event, usually negative, that is in the process of occurring and, therefore, has not yet been resolved.->For example, pending litigation would be considered a contingent liability. | (blank) |
| Financial Analyst | ->Security Analyst->A financial professional who has expertise in evaluating investments and puts together buy, sell, and hold recommendations on securities.->Analysts are typically employed by brokerage firms, investment advisors, or mutual funds-> | do the grunt work for brokers, preparing the research that brokers use->usually specialize in specific industries or sectors |
| Collateral | Properties or assets that are offered to secure a loan or other credit. Collateral becomes subject to seizure on default.->Collateral is a form of security to the lender in case the borrower fails to pay back the loan. | For example, if you open a mortgage, your collateral would be your house. In margin trading, the securities in your account act as collateral in the case of a margin call. |
| QAR | • Quality assurance reviews | (blank) |
| AO | Account Ownership | (blank) |
| KPI | Key Performance Control Initiatives | (blank) |
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1sabelle