Business / Finance Glossary

Balanced Fund: An investment company that invests in stocks and bonds. The same as a balanced mutual fund.

Balanced Mutual Fund: This is a fund that buys common stock, preferred stock, and bonds. The same as a balanced fund.

Balloon Interest: In the context of serial bond issues, the elevated coupon rate on bonds with late maturities.

Balloon Maturity: Any large principal payment due at maturity for a bond or loan with or without a sinking fund requirement.

Bank Anticipation Notes (BAN): Notes issued by states and municipalities to obtain interim financing for projects that will eventually be funded long term through the sale of a bond issue.

Bank Collection Float: The time that elapses between when a check is deposited into a bank account and when the funds are available to the depositor, during which period the bank is collecting payment from the pay . . . View Full Definition

Bank Discount Basis: A convention used for quoting bids and offers for Treasury bills in terms of annualized yield, based on a 360-day year.

Bank Draft: A draft addressed to a bank.

Bank For International Settlements (BIS): An international bank headquartered in Basel, Switzerland, which serves as a forum for monetary cooperation among several European central banks, the Bank of Japan, and the U.S. Federal Rese . . . View Full Definition

Bank Holding Company: A company that owns or has controlling interest in two or more banks and/or other bank holding companies.

Bank Insurance Fund (BIF): A unit of the Federal Deposit Insurance Corporation (FDIC) that provides deposit insurance for banks excluding thrifts.

Bank Investment Contract (BIC): Interest guaranteed by the bank in a portfolio over a specific time frame with a specific yield.

Bank Line: Line of credit that by a bank grants to a customer.

Bank Trust Department: Bank department that deals with estates, administers trusts, and provides services such as estate planning advice to its clients.

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

Bankers Acceptance: A short-term credit investment created by a nonfinancial firm and guaranteed by a bank as to payment. Acceptances are traded at discounts to face value in the secondary market. These instrum . . . View Full Definition

Bankmail: An agreement between a company engaged in a takeover bid and a bank that the bank will not finance the bid of another acquirer.

Bankruptcy: Inability to pay debts. In bankruptcy of a publicly owned entity, the ownership of the firm's assets is transferred from the stockholders to the bondholders.

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