Banking Terms and Glossary
Alphabet - N
- Non-Recourse Discounting – Purchase from the seller of the bill of conditions accepted in the exchange at a discount allowed for advance funding from the date of rebate till the date of payment of the bill. When there is a discount on an unregulated price, there is no shelter for the financing bank in the payment of any payment to the bank or the bank's bank.
- Non-Performing Assets (NPA) – When the loan facility remains in the specified period over a specific period, such as the loan facility is classified as NPA.
- National Credit Union Administration (NCUA) – The federal regulatory agency that oversees the charter and federal credit union. (NCUA also manages the National Credit Union Share Insurance Fund, which protects federal credit union deposits).
- Negotiable Order of Withdrawal Account (NOW) – A savings account that can be withdrawn from exchangeable orders (functional equivalents of checks) for withdrawal. This is an interest rate account, for which the bank has to ensure the right to provide at least seven days’ notice to the depositor of the bank.
- National Bank – A bank is a matter under the supervision of the currency comptroller. The Office of the Currency Controller Office is a US Treasury Department office. A national bank may be recognized because it has the name "national" or "national association".
- Non-sufficient funds (NSF) – Paying a check for payment is very low in an account balance.
Alphabet - O
- Off-Balance Sheet – All banking transactions in the bank transactions, which are not displayed as a property or loan in the banking branch of a bank. All the promises included include a cash flow for which a specific event is conditional. For example, a loan guarantee will be made only if there is a default only. A form of derivatives of off balance sheet transactions.
- Opportunity Cost – Return rates, which can be achieved with the best option investment, are generally forgotten by taking advantage of the next best investment opportunity or the use of the next best asset, which, by putting resources for a specific use, is forgotten.
- Overdraft System – In the manner in which the borrower is allowed to open additional accounts in his current account with a certain extent within a certain period of the borrower.
- On-Line – A computer system where input data is retrieved as data received and output data as soon as they are sent to reach where it is needed.
- OD – Overdraft.
- Operating Cycle – Produce its final product by a firm length by time, sell it to customers, and collect to sell cash sales.
- Open-End Credit – A credit agreement (usually a credit card) that a customer lends against a former approved loan line when buying a merchandise and services. The borrower is paid only for the amount that is actually borrowed, plus no interest due to the bill. (Also called a charge account or rotation credit).
- Overdraw – To write a check for the amount that has exceeded the amount of deposit in the account.
- Overdraft protection – An agreement between you and your bank that allows you to withdraw more money than your balance in the account, without any penalty.
Alphabet - P
- Partial Shipment – Multiple loads of loads have been sent. In the credit card, the buyer can say that it is not allowed or authorized.
- Personal Identification Number (PIN) – Generally a four-letter number or word, the PIN is able to access their account, the secret code provided by credit or debit cardholders. The code is randomly selected by the bank or subscriber. It is intended to prevent unauthorized use of a card while accessing a financial services terminal.
- Preauthorized Payment – A system established by a written agreement, under which a financial institution allows the customer to debit the customer's account to pay the bill or to pay the debt.
- Power of Attorney – The attorney of power is a document, which gives the person's ability to employ the person appointed by the document.
- Present Value – Considering a specific interest or discount rate, the price of a payment received or received in the future is worth the price. Present value represents today's price, a series of future cash flows.
- Product Differentiation – Various developments of product configuration appeal to a variety of consumer taste.
- Prepayment Penalty – A loan was imposed on a borrower for repayment of debt before the expiry of the loan. (In case of a mortgage, it is applicable when there is no estimation paragraph of mortgage note for an offer).
- Payee – Check, draft or note is provided to the person or organization.
- Payment Due Date – On the date when any loan or instalment payment is given. It is set by a financial institution. Any payment received after this date is considered late; Fees and fines can be evaluated.
- Prime Lending Rate (PLR) – The rate of loan rate among most credit-based customers of creditors to banks.
- Preferred Risk Policy (PRP) – A policy that provides a combination of fixed combinations / contents, or provides only coverage in a little, specific premium. PRPs are generally available for property located in B, C and X zones, which meet the eligibility requirements based on the history of flood damage property of regular program communities.