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RE Finance 1-4

Unit 2

TermDefinition
Annual Percentage Rate (APR) the total loan cost through a standard measurement of interest rates. See example on page 29.
commercial paper commercial banks loans for personal property & short term business needs.
discount rate the fed charges the borrowing bank interest or the cost of borrowed funds to the borrower bank.
federal funds rate the rate of intrest charged to borrowing banks for short loan periods.
M1,M2,M3 M1 is more easily obtainable (cash, checking accounts, etc) M2 assest that are less liquid (M1 & retirement accounts, etc.) M3 even less liquid (M2 plus deposits over 100,000, money in banks abroad, etc.)
open-market operations The Feds use these tools to balance the economy. They purchase or sale government securities.
prime rate the rate a commercial bank charges its most creditworthy customers or its prime customers.
quantitative easing (QE) the Federal Open Market Committe bought mortgage backed securities & long term treasury notes from the banks.
Regulation Z a law that requires lenders to reveal total loan cost
reserve requirements member banks are required to keep reserves in the bank to make availble for bank depositors.
securities from time to time, short or long term debt instruments may be issued and sold bt ht Treasury to generate the cash it requires.
Treasury bonds The Treasury's long term debt instuments, mature in 30 years
Treasury bills The Treasury's short term securities
Treasury notes the Treasury's intermediate length obligation for 2-10 years
Troubled Asset Relief Program (TARP) the Treasury was authorized to spend 700 billion to purchase assets from financial institutions in trouble. It cost taxpayers $300 billion.
Truth in Lending Act (TILA) Allows consumers to compare cost of credit, must disclose annual percentage rate, regulation Z requires all disclosure of terms.
Community Reinvestment Act Ensures that financial institutions pursue their responsibilities to meet both deposit in credit needs of members of their communities
Home mortgage disclosure Act Obligation to report income level Rachel characteristics and ginger of mortgage applicants
Tax increment financing Takes money from taxes to improve the area
Created by: bkgee