GLASS-STEAGALL ACT
Act prohibiting commercial banks from engaging in the investment business. Passed by the US Congress in 1933, former Treasury secretary and Senator Carter Glass, and Senator Henry Steagall sponsored the Banking Act of 1933. This was enacted as an emergency measure to reduce or eliminate the failure of nearly 5,000 banks during the Great Depression. The Act lost its potency in the following decades and was repealed in 1999.
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Dynasty Trust
Long-term trusts made to pass wealth from one generation to another without paying transfer taxes including estate and gift taxes. The trust can su ...
C&I
Loan made to a business or company, not to an individual, which provides either working capital or finances key capital expenditures. Usually short ...
Hypermarket
Hypermarket is a combination of a department store and a grocery supermarket. A hypermarket offers various products like clothing, groceries, and a ...
Assets Under Management
The asset's market value which an investment company handles on behalf of investors. Assets Under Management (AUM) is perceived as a scale of s ...
Business Income Coverage Form
Insurance policy which covers a loss of income a firm incurs due to a slowdown or temporary suspension of its operations because if damage to its p ...
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