Forbes Bank

Forbes Bank was a bank in the British Crown dependency of the Isle of Man, providing private and business banking services to the local population.[1][2] Forbes Bank crashed spectacularly in 1843 resulting in hardship, unemployment, bankruptcy and destitution for many of the inhabitants of the Island.[1][2] Continue reading “Forbes Bank”

Bank Services Billing Standard

Large multinational corporations want to streamline their banking practices. To do this, they need all of their bank billing electronically, and in a common format. Continue reading “Bank Services Billing Standard”

Bank tax

bank tax, or a bank levy, is a tax on banks which was discussed in the context of the financial crisis of 2007–08. On 16 April 2010, the International Monetary Fund (IMF) put forward three possible options to deal with the crisis., which were presented in response to an earlier request of the G20 leaders, at the September 2009 G20 Pittsburgh summit, for an investigative report on options to deal with the crisis.[1] The IMF opted in favour of the “financial stability contribution” (FSC) option, which many media have referred to as a “bank tax”. Both before and after that IMF report, there was considerable debate among national leaders as to whether such a “bank tax” should be global or semi-global, or whether it should be applied only in certain nations. Continue reading “Bank tax”

Bank run

bank run (also known as a run on the bank) occurs when a large number of people withdraw their money from a bank, because they believe the bank may cease to function in the near future. Continue reading “Bank run”

Bank failure

bank failure occurs when a bank is unable to meet its obligations to its depositors or other creditors because it has become insolvent or too illiquid to meet its liabilities.[1] Continue reading “Bank failure”

Bank account

bank account is a financial account maintained by a bank for a customer. A bank account can be a deposit account, a credit card account, a current account, or any other type of account offered by a financial institution, and represents the funds that a customer has entrusted to the financial institution and from which the customer can make withdrawals. Alternatively, accounts may be loan accounts in which case the customer owes money to the financial institution. Continue reading “Bank account”

Asset–liability mismatch

In finance, an asset–liability mismatch occurs when the financial terms of an institution’s assets and liabilities do not correspond. Several types of mismatches are possible. Continue reading “Asset–liability mismatch”

Bank examiner

bank examiner is a financial professional who has the task of making sure that banks and savings and loan associations are operating legally and safely, in accordance with the bank regulations imposed on these institutions by the chartering level of government. In the United States, they may conduct supervision on behalf of a U.S. government agency, the Federal Reserve System, a state banking authority, or for the financial institutions themselves as internal auditors. The main duties of a bank examiner are to ensure that a bank’s operations are legal and can provide financial stability.[1] A bank examiner will also review financial statements, evaluate the level of risk associated with loans, and assess the management of a bank.[2] Continue reading “Bank examiner”

Asset and liability management

Asset and liability management (often abbreviated ALM) is the practice of managing financial risks that arise due to mismatches between the assets and liabilities as part of an investment strategy in financial accounting. Continue reading “Asset and liability management”

Asset-based lending

Asset-based lending is any kind of lending secured by an asset. This means, if the loan is not repaid, the asset is taken. In this sense, a mortgage is an example of an asset-based loan. Continue reading “Asset-based lending”