Bank Wire: A computer message system linking major banks. It is used not for effecting payments, but as a mechanism to advise the receiving bank of some action that has occurred, e.g., the payment by a customer of funds into that bank's account.

 

Related Words

Bank Wire: A computer message system linking major banks. It is used not for effecting payments, but as a mechanism to advise the receiving bank of some action that has occurred, e.g., the payment by a . . . View Full Definition

Neutral Wire: Usually color-coded white, this carries electricity from an outlet back to the service panel. Also see hot wire and ground.

Nonbank Banks: Nonbank banks, also called limited-service banks, offer some but not all of the services of a traditional commercial bank. They're typically owned by companies, including insurance companies . . . View Full Definition

Paid Leave Bank: A benefit program granting employees a bank consisting of a specific number of paid days that can be used for absences related to sickness, vacation or personal reasons.

National Practitioner Data Bank (NPDB): A database maintained by the federal government that contains information on physicians and other medical practitioners against whom medical malpractice claims have been settled or other dis . . . View Full Definition

National Bank For Cooperatives (Cobank): An institution of the Farm Credit System that provides financial services to approximately 2,000 agricultural cooperatives, rural utility systems, Farm Credit System associations and other b . . . View Full Definition

National Bank: All banks in the United States are chartered by either a state government or the federal government. Federally chartered banks, called national banks, are overseen by the Comptroller of the . . . View Full Definition

National Bank Act Of 1863: In 1863, President Abraham Lincoln, at the urging of Salmon Chase, the Secretary of the Treasury, signed the National Bank Act. The Act established a national banking system and a uniform na . . . View Full Definition

Paris Interbank Offer Rate (PIBOR): The deposit rate on interbank transactions in the Eurocurrency market quoted in Paris.

Prepackaged Bankruptcy: A bankruptcy in which a debtor and its creditors pre-negotiate a plan of reorganization and then file it along with the bankruptcy petition.