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Industry Glossary
Data Dictionary Services
Industry Glossaries:
 
Financial Services
                 
 Affinity Card
Category
 

 

Financial Services
 Asset-based Commercial Paper
Category
 

A short term investment vehicle with a maturity that is typically between 90 and 180 days. A bank or other financial instituion usually issues the security itself.The notes are backed by phsical assets suc has trade receivables , and are generally used for short-term financing needs.

 

Financial Services
 Basis Point
Category
 

A unit measuring movements in interest rates or margins. Basis point equals one-hundreth of one percent (0.01%) . Therefore, 100 basis points equlas one percentage point.

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Financial Services
 Captive Finance Company
Category
 

A company which is usually a wholly-owned subsidiary, that finances consumer purchases from a parent company.

 

Financial Services
 Collateralized Debt Obligation (CDO)
Category
 

a type of asset-backed security and structured credit product . CDO's hod a portfolio of fixed income assets and divide the cedit risk among different tranches (i.e. classes of bonds)

 

Financial Services
 Credit
Category
 

An amount of money that a financial institution extends which he customer may borrow.

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Financial Services
 Credit Rating
Category
 

A formal evaluation of an individual's credit history and ability to repay obligations.

 

Financial Services
 Credit Limit
Category
 

The maximum balance that a creditor will allow a customer to owe a financial institution.

 

Financial Services
 Debit Card
Category
 

A bank card that allows depositors to pay for the cost of goods and services directly from their checking accounts electronically. Debit cards often combine the convenience of an automated teller machine (ATM) card and general purpose credit card.

 

Financial Services
 Debt Consolidation
Category
 

Themanagement of consuemr debts by combining them in a single loan transaction from a financial institution. The effect is to lower monthly payments andextending the payment terms over a longer period of time.

 

Financial Services
 Delinquency
Category
 

A loan payment that is past due which is typically 30 days or more.

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Financial Services
 FICO Score
Category
 

A widely used measure developed by Fair Isaac & Co. to predict the likelihood that credit users will pay their bills based on an anlysisof an individul's credit historycompared with others as well as historical performance.

 

Financial Services
 Forbearance
Category
 

A period when a creditorpermits a debt or to temproarily suspend or reduce payment.

 

Financial Services
 Managed Receivables
Category
 

The total amount of receivables (I.e. credit card, mortgage, etc.) including both securited receivables and receivables on a company's balance sheet.

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Financial Services
 Net Charge-off
Category
 

The portion of a loan that a financial services company is unlikely to collect and writes off as bad debt expenses.Net Charge-offs can be reduced by recoveries of payments for loansd previously charged off.

 

Financial Services
 Private Label Credit Card
Category
 

A credit card issued under the name of a merhant such as a department store. Merchants issue private label cards carrying their brand names mainly to encourage brand loyalty and spendign at their store.

 

Financial Services
 Risk-Adjusted Margin
Category
 

An operational measure that considers how much risk a company has taken on . This is calculated as risk-adjusted revenue (net interest income plus non-interest income , less net charge-offs) divided by average managed receivables.

 

Financial Services
 Subprime Borrower
Category
 

A classification of borrowers with deficient or derrogatory credit histories. Subprime borrowers are defined as custoemrs with FICO scores below 620.

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Financial Services
 Workout
Category
 

When a lender agrees to accept less than is owed on a debyt as full payment which may include forbearance.

 

Financial Services