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Debt Management and Credit Cards Home
Terminology Financial Terms and Acronyms
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205 results. (Showing 1 - 20)   

1. cadastral map
A legal map for recording title to a property. The map indicates legal boundaries and the ownership of the property.

2. call
(1) an option to buy a specific security at a specified price within a designated period. (2) to demand payment of a loan because of the failure of the borrower to comply with the terms of the loan. (3) to demand payment for stocks or bonds that have been purchased or subscribed.

3. call loans
Loans used to finance the purchase of securities, and which may be terminated (called) at the discretion of the borrower or the lender on demand.

4. call option
The option to buy a given amount of a commodity at a specified price during a specified period of time. Opposite of put option.

5. call price
The price at which a callable bond or security is redeemable. It is used in connection with preferred stocks and debt securities having a fixed redemption value. It is the price the issuer must pay to call in the security and retire it by paying the holder. The call price often exceeds the par, or face value, of the security in order to compensate the holder for the disruption of earnings and the bother of having to reinvest the funds, possibly at a lower rate of return.

6. call protection
A feature of mortgage loans or mortgage-backed securities designed to reduce the risk of an early call, or early prepayment, of a loan or security. Call protection may be accomplished by including prepayment penalties and lock-in periods in mortgages. Call protection also may be achieved by structuring a mortgage-backed security in such a way that if underlying loans are paid earlier than scheduled, the payments are not immediately passed through to the investor holding the mortgage-backed security. Investors and lenders sometimes desire call protection so that their funds will remain invested for the entire planned length of time, providing a consistent cash flow at predictable rates and reducing the premature need to look for new investments.

7. call provision
A clause in a mortgage giving the lender the right to demand and receive payment of the balance of the unpaid principal in full under certain conditions. A call provision is similar to an acceleration clause.

8. call report
A quarterly report of income and financial condition commercial banks file with their federal and state regulatory agencies. It is equivalent to the quarterly thrift financial report that savings institutions file with the Office of Thrift Supervision.

9. calling officer
A financial institution employee who goes out to call on prospective new customers and on current customers in order to strengthen their affiliation with the institution.

A rating system used by federal government examiners to evaluate the safety and soundness of a savings association or a bank. CAMELS is an acronym for the six elements that are evaluated: Capital, Assets, Management, Earnings, Liquidity and Sensitivity to risk. Each of these elements is rated on a scale of 1 to 5, and an overall CAMELS rating is assigned to the institution following an examination. A rating of 1 indicates the best performance, with 5 being the worst. OTS began using the CAMELS system for thrift institution examinations commenced after April 15, 1994. Previously, OTS had used the MACRO rating system.

11. Canadian rollover mortgage
The standard home financing loan in Canada. Like standard mortgages in the U.S., the Canadian rollover mortgage is fully amortizing. However, it differs in that the loan's interest rate is subject to renegotiation every five years, with no limit or cap on how much interest rates, and therefore monthly payments, can increase during the life of the loan.

12. canceled check
A check that has been paid by the financial institution on which it was drawn. It is stamped "paid" on the day it is paid and it is charged to the account of the person who wrote the check.

13. cap
(1) the maximum allowable interest rate increase for adjustable rate mortgages. Caps embedded in mortgage agreements may limit the amount of upward change in the rate of interest at each adjustment period and provide a fixed maximum over which the rate cannot rise during the life of the loan. (2) an agreement negotiated between a buyer and seller. The buyer of a cap agreement pays a fee to the seller. In return, the seller will pay the buyer if a designated floating index rate is higher than a specified fixed rate on designated days. The seller pays nothing If the floating rate is below the fixed rate. Buyers of cap agreements use them to hedge against rising interest rates, because payments to the buyer increase as rates rise.

Related Term : collar

14. capacity
The ability of a borrower to repay a debt. It is determined by subtracting total expenses from the total income of the borrower.

15. capital
(1) funds raised by a business through the sale of stock plus retained earnings. (2) wealth, including money and property, owned, used, or accumulated by a person or a company. (3) assets minus liabilities equals net worth or capital.

16. capital asset
A long-term or permanent thing of value used to carry on a business or profession.

17. capital directive
An enforceable order issued by the Office of Thrift Supervision to a savings association requiring the institution to increase its capital to minimum requirements.

18. capital expenditure
Money spent for additions or improvements to structures or equipment that are used to carry on the activities of an organization or individual.

19. capital gain or loss
The gain or loss incurred from the sale or disposition of assets including securities and real estate.

20. capital improvement
A structure or major piece of equipment built or installed to permanently add value and capacity to property.

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