90 terms

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Central bank
the official bank of a country, which is responsible for setting interest rates, controlling the money supply, producing banknotes, making money available, and keeping the country's supply of foreign currency and gold etc. Examples, The Bank of England, The Federal Reserve in the USA, The Swiss National Bank
base rate
the basic rate of interest charged by central banks. The rates charged by all banks on their lending rise and fall with the base rate, and this has an important influence on the economy as a whole
commercial bank/ retail banks
A commercial bank offers checking accounts, savings accounts, personal and business loans, and other, similar services. A retail bank is often an individual branch of a commercial bank where one may procure these services. A commercial bank contrasts with an investment bank (see below), though their services have become more intertwined since the late 1990s.
investment bank (US)
A financial institution that provides a variety of services for clients, including assisting in mergers and acquisitions. In general, an investment bank's clients are institutional investors, but wealthy individuals also use them. The name can be misleading since investment banks rarely provide retail banking services. (In the European continental banking tradition, commercial banks also offer investment banking services, e.g. UBS, Deutsche Bank.)
universal bank
a bank providing services including savings, loans and investments. Universal banking combines both commercial banking and investment banking. The term universal banking is more common in Europe than the U.S. because of stricter regulation of American banks.
branch
an individual bank that is part of a large organisation, big cities usually have several branches of major banks
High Street Bank (UK)
A major bank (commerical/retail) with branches in many towns all over the country, examples include Barclay's and Lloyds-TSB.
merchant bank (UK)
a bank that deals with businesses rather than the general public. Merchant banks advise on and arrange finance for investment and takeovers, and advise financial institutions on where to make investments etc.
offshore bank
a bank that is based abroad in a country where the usual rules of a person or firm's home country do not apply, notably relating to tax.
bank account
an account that a customer has with a bank
current account (UK) - checking account (US)
an account that allows customers to use a cheque book and provides services such as paying bills
deposit account (UK) - savings account (UK)
a bank account that pays interest, often used for saving money not needed immediately
bank statement
document sent regularly by a bank to a customer, showing the money that has gone into and out of their account over a particular period of time
bank balance
the amount of money in a bank account or the level of debt
cash dispenser - cash machine - Automatic Teller Machine (ATM) - hole in the wall (UK) informal
an electronic machine inside or outside a bank, which customers use, by means of a bank card and a code, to withdraw money and obtain information about their accounts
to pay money into an account - to deposit money into an account
to put money into a bank account
to withdraw money from an account
to take money out of a bank account
to be/go in(to) the red
to owe more money than you have; your account is in debit
to be/go in(to) the black
the account is in credit
standing order
an arrangement between a bank and a customer for the bank to pay a fixed amount of money regularly from the customer's account to another account
bank loan
an amount of money lent by a bank
mortgage
legal arrangement where you borrow money from a financial institution in order to buy land or a house, and you pay back the money over a period of years
overdraft
an arrangement between a bank and a customer allowing them to take out more money from their current account than they have in it
foreign currency
the system or type of money used in another country
financial centre
a city where there there are a lot of financial activities such as banking or insurance. A financial centre may also have a stock market, currency market etc. Examples are The City or the Square Mile in London and Wall Street in New York.
stock market - stock exchange
a market where company shares/stocks are traded
investors shareholders
person or organisation who invests money in order to make a profit; shareholders do this by buying stocks and shares
stock brokers and traders
People who execute buy and sell securities, e.g.bonds, shares, options. Traders often have the reputation of engaging in high risk activities.
to trade on the stock market
to buy and sell shares, bonds, currencies, commodities
stocks (US) and shares (UK) equities
a share or a stock is one part into which ownership of a company is divided. Companies issue shares as a way of raising capital
dividends
a part of the financial profits of a company for a particular period of time that is paid to shareholders for each share they own
yield
the amount of money that you get from an investment, especially bonds
price/earnings ratio (PE)
share price divided by the amount of profits it makes for each share in a 12-month period.
blue-chip shares
a share in a well-managed company with a large amount of paid-up capital and a long record of paying profits to shareholders in good and bad economic periods
cyclical share
a share in a company whose performance is strongly influenced by the rate of growth in the economy as a whole, e.g. the car industry
share offering - share flotation - share issue
when new shares in a company are made available for purchase by the public
initial public offering (IPO)
an occasion when a company offers shares on the stockmarket for the first time, and the amount of shares involved
to float a company on the stock market
to sell shares in a company on a stockmarket for the first time
mutual fund (US) unit trusts (UK)
a particular legal form of fund, often one that is open to the general public for saving and investing in particular financial markets
bonds
an amount of money borrowed by a government or an organisation. The government or organisation produces a document promising that it will pay back the money that it has borrowed, usually with interest
commodities
products that can be bought or sold to make a profit, especially in their basic form before they have been used or changed in an industrial process. Examples of commodities are farm products and metals.
derivatives
something such as an option (the right to buy or sell something at a particular price within a particular period), or a future (a fixed price that you pay now for delivery of something in the future), based on shares, bonds and currencies
bull market
a financial market in which prices are rising, especially over a long period of time
bear market
a financial market in which prices are falling, especially over a long period of time
bankruptcy - to go bankrupt
when a person or company does not have enough money or assets to pay their debts they are or go bankrupt
to default
to fail to pay money that you owe at the right time
to bail out
to provide money to get a person or organisation out of financial difficulty
venture capitalist
a person who invests money in new businesses
business angel
a private investor who puts money into new business activities, especially ones based on advanced technological developments
crowd funding
A way of raising money from a large number of individual investors, typically through the Internet.
seed money - seed capital
money needed to start a new business
the economy
the system by which a country's goods and services are produced and used, or a country considered in this way
an economist
someone who studies the way in which wealth is produced and used
economics
the study of the way in which wealth is produced and used
macro-economics
the study of the economy of a whole area, for example a whole country or the whole of a particular industry
micro-economics
the study of a part of the economy, such as the operations of one company or person
business cycle
a cycle in which business activity increases, decreases and then increases again
boom and bust
a situation in which an economy regularly becomes more active and successful and then suddenly fails
slump - recession
a period of time when an economy or industry is doing badly, and business activity and employment decrease. Many economists consider there is a recession when production falls for six months in a row.
depression
a long period of time during which there is very little business activity and a lot of people do not have jobs
inflation
continued increase in the prices of goods and services, or the rate at which prices increase
labor (US) - labour (UK)
all the people who work for a company or in the country
unemployment
the number of people in a country who do not have a job
productivity
the rate at which goods are produced and the amount produced in relation to work, time and money needed to produce them
balance of payments
the difference between the amount of money coming into a country, for example in payment for its exports, and the amount of money going out, for example to pay for imports
trade balance
the part of a country's balance of payments that relates to the value of goods and services imported and exported
Gross Domestic Product (GDP)
the total value of goods and services produced in a country's economy, not including income from abroad
Gross National Product (GNP)
the total value of goods and services produced in a country's economy, including income from abroad
growth rate
the speed at which something grows
accountancy (UK) accounting (US)
the work of keeping a company's financial records, recording its income and expenses, and its business deals
an accountant
a professional person (usually with university-level qualifications) whose job is to keep and check the financial records of organisations and give advice to clients on tax and other financial matters
audit v. - auditor n.
to officially check that an individual's or organisation's accounts are true and honest
bookeeper
a person whose job is to make an official record of all the money received into and paid out from a business
creative accounting
using unusual, but not illegal methods in a set of accounts to make them look better than they really are
financial statement
statement showing the financial state of a business, at the end of a particular period of time, including its balance sheet, profit and loss account, and any other necessary information
balance sheet
a document showing a company's financial position and wealth at a particular time, often the last day of the financial year
profit and loss account
a financial statement showing the financial results of a company's normal activities for a particular period of time, usually the financial year
cash flow
the amounts of money coming into and going out of a company and the timing of these. Companies can have cash flow problems when they have to pay bills but their customers have not paid them.
asset
something belonging to an individual or a business that has value or the power to earn money
fixed assets
something that a business owns and that it uses in order to produce goods, for example a factory
liquid assets
anything that a company has that is either cash or can be converted into cash quickly, e.g. cash or money owed by customers
tangible assets
an asset that is physical and can be valued easily, e.g. gold
intangible assets
nb usually plural. Something a company has and can make money from, but it is not physical so is difficult to value. An example is goodwill or customer loyalty.
depreciation
the gradual loss in the value of a fixed asset that wears out over a number of years or needs to be replaced regularly. Under tax law, the amount lost each year can be taken away from the business's profits, reducing the amount of tax to be paid
liabilities
an amount of money owed by a business to a supplier, lender etc.
overheads
a company's general costs for activities not related to particular products, e.g. electricity, rent
turnover
the amount of business done in a particular period of time, measured by the amount of money obtained from customers for goods or services that have been sold
revenue
earnings
money that a business or organisation receives over a period of time, especially from selling goods or services
inventory
the amount of stock, including raw materials, supplies and finished goods that a company has at a particular time
the bottom line
the figure showing a company's total profit or loss in the accounts. NB this term is also used metaphorically to mean 'the main/key point', e.g. 'the bottom line is, we need a holiday '