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Accounting
Banking

Non-Transferable Deposit

A deposit (with a bank or financial institution) that is not, or cannot be, used to make payments to other...

NII

It stands for net interest income; the difference between the interest income a bank or a lending institution earns from...

Net Interest Income

The difference between the interest income a bank or a lending institution earns from lending money to clients and the...

IBAN

It stands for International Bank Account Number, an internationally accepted account numbering standard which is designed to facilitate the automation...

Open Banking

The provision of banking services through application programming interfaces (APIs) developed by a third-party providers, mainly through portals and applications....

Prime Lending Rate

The short-term interest rate that is charged by banks to their most creditworthy, financially sound customers, i.e. customers who have...

Accommodation Endorser

A person who adds his endorsing signature to a promissory note without compensation. This person, known also as the cosigner,...

Smurf

A money launderer who moves dirty money in tiny amounts that are hard to be detected or spotted. This money...

Structured Promissory Note

A promissory note that is combined with the price change in the value of a specific underlying asset such as...

Shadow Bank

A levered-up financial intermediary that doesn’t have access to any form of liquidity protection. Commercial banks, by nature, have access...