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Bank line |
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Bank lineLine of credit that by a bank grants to a customer.Bank lineA moral, rather than a contractual commitment by a bank to provide a loan to a borrower up to a stated total amount over a stated period, typically one year.Because a bank line is not a legal commitment, it is not usual for a commitment fee to be charged. However it is often necessary to keep compensating balances on deposit, typically 10% of the bank line plus an additional 10% of actual borrowings. Where customers are officially notified in respect of a line the term is advised line or confirmed line. In cases where the bank sets an internal guide and the customer is not notified the term is guidance line. Bank line is also known as a line of credit.Similar MatchesBankBankAn institution which:takes deposits from individuals, companies, organisations etc. and provides them with various financial servicespays interest on deposits, which may be fixed or variable, but which usually vary according to the amount of money deposited and the amount of time it stays in the accountmakes loans and charges interest on themBanks operating in the UK, formerly regulated by the Bank of England, are now authorised and supervised by the Financial Services Authority. In the USA, banks are regulated under the Federal Reserve System. Federal Farm Credit BankFederal Farm Credit BankAn institution created by the government with the purpose of uniting the financing activities of the federal land banks, the federal intermediate credit banks, and the banks for cooperatives. See: Federal Farm Credit System. Interbank rateInterbank rateSee: LIBOR Banker's draftBanker's draftIn situations where a person owes money to a creditor, and the creditor is not prepared to accept a personal cheque because he thinks it might bounce, a banker's draft can provide a solution. It is simply a cheque made out to the creditor by the debtor's bank, and in the eyes of the creditor is much more secure. BankruptcyBankruptcyProceedings under federal bankruptcy statutes to relieve a debtor (bankrupt) from insurmountable debt. The bankrupt's property is distributed by the court to the creditors as full satisfactions of the debts, in accordance with certain priorities and exemptions. Voluntary bankruptcy is petitioned by the debtor for, involuntary by the creditors. Further SuggestionsBBA British Bankers AssociationFederal Home Loan Banks International Bank for Reconstruction and Development (IBRD) International Bank for Reconstruction and Development (IBRD) clearing house interbank payment system Mutual Savings Bank Internet banking Bank draft Permissiable nonbank activities Bank for International Settlements (BIS) Bank Insurance Fund (BIF) Prepackaged bankruptcy bank statement World Bank Exim bank London interbank offered rate Federal Land Bank National Savings Bank banker's reference Collecting Bank Bank Investment Contract (BIC) Central bank intervention Eligible bankers acceptances Correspondent bank consortium bank |
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