COMMERCIAL BANK
Privately owned financial institution which accepts demand and time deposits, makes loans to businesses, offers mortgage lending, and provides investment products including savings accounts and certificates of deposit. A normal commercial bank has a physical structure with teller, vaults, safe deposit boxes, and ATMs. But some commercial banks have no physical branches; hence, the customers need to complete all their transactions via phone or the internet. Commercial banks in general charge lower fees while its clients pay higher interest rates on deposits and investments.
POPULAR TERMS
Secondary Mortgage Market
Secondary Mortgage Market is a market wherein mortgage aggregators, securitizers, originators, and investors go to buy and sell mortgage loans and ...
Giffen Good
Good for which demand rises as the price escalates, and declines when the price decreases. It has an upward-sloping demand curve, contrary to the f ...
Inactivity Fee
Fee charged to investors by brokerages for infrequent trading in their brokerage accounts to meet the minimum trading requirement
CVE
Currency abbreviation for the Cape Verde escudo, the official currency of the Republic of Cape Verde. The CVE subunit is called the centavo. Instea ...
Product Recall Insurance
An insurance that covers the costs involved in recalling possibly defective products made by the insured.
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