Terms with Tag Banking
- Debit — Definition,
- Another name for withdrawal of funds from your account.
- Debit Bureau — Definition,
- A service used by banks that eventually tracks account opening and closing information, cheque order history, cheque writing history, any history of collection activity on unpaid accounts, frequency of debit and ATM card use and household demographics. Under the system, when a consumer gives a cheque to a participating retailer, the individual's account is identified by punching a code into a computer or swiping a card containing a magnetic strip or microchip through an electronic reader, which tells the retailer whether to accept or reject the transaction.
- Debit Memo (DM) — Acronym, ➥ Bank account transaction code.
- Debt — Definition,
- Money one person or firm owes to another person or firm.
- Debt Consolidation — Definition,
- The replacement of multiple loans with a single loan, often with a lower monthly payment and a longer repayment period. It's also called a consolidation loan. CanEquity has access to Canada's best debt consolidation products, for more info about debt consolidation see our debt consolidation page.
- Debt Issues — Definition,
- The issuance of bonds or other forms of debt on the public markets.
- Debt Service Reserve Fund (DSRF) — Acronym,
- Debt-to-Income Ratio — Definition,
- The percentage of an individual's income that is used to repay debt.
- Debt/Equity Ratio — Definition,
- A comparison of debt and equity used to measure the health of a business.
- Debtor — Definition,
- A person who has filed a petition for relief under the bankruptcy laws.
- Anyone who owes money to a creditor.
- Declining Life Insurance — Definition,
- Life insurance with a decreasing death benefit, often used to insure mortgage debt.
- Deductions — Definition,
- Expenses the government allows you to subtract from your taxable income. If you have taxable income of $31,000 and deductions of $4,000, then you would figure how much tax you owe on the difference -- $27,000.
- Default — Definition,
- When a borrower fails to fulfill the obligations of a loan or lease.
- Deferred Annuity — Definition,
- An annuity that makes payments to the annuitant at some date in future instead of immediately.
- Deficit — Definition,
- When expenses surpass income or liabilities surpass assets.
- Deflation — Definition,
- An actual decline in the general level of prices in the economy.
- Delinquency — Definition,
- Failure to make mortgage payments when mortgage payments are due.
- Delisle Credit Union — Company, Saskatchewan, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Demand Loan — Definition,
- A loan that must be repaid in full, on demand.
- Deposit — Definition,
- An act of putting a sum of money in to a bank account.
- A sum of money put towards a given transaction. In a property purchase, a deposit signifies the intent to buy, which is paid to the vendor and applied to the principal cost.
- Deposit Account Control Agreement (DACA) — Acronym,
- Deposit Insurance — Definition,
- The Canada Deposit Insurance Corporation insures depositors' funds to a maximum of $60,000 per depositor, per institution, with some exceptions, in the event of the failure of a federal financial institution. Deposits in some provincial financial institutions are also covered.
- Depreciation — Definition,
- The gradual loss of value of a building or other property because of age or natural wear.
- Depression — Definition,
- A prolonged downturn in the economy and level of business activity.
- Derivatives — Definition,
- Financial contracts whose value is derived from the value of some underlying asset, rate or index. Derivatives are used as risk-management tools by governments and corporations to reduce exposure to risk, mainly related to fluctuations in foreign-exchange and interest rates. Derivative instruments include swaps, options, futures and forward contracts and are used by banks in two principal activities: sales/trading and asset/liability management.
- Derivatives Clearing and Settlement System (DCASS) — Acronym,
- Desjardins Credit Union (DCU) — Company Est. 2003, Canada, ➥ Joined Meridian Credit Union in April of 2011.
- Desjardins des Sources—Lac-Saint-Louis — Company, Quebec, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Desjardins Financial Security (DFS) — Company Est. 2002, Canada-wide, Important, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Desjardins Rail Credit Union — Company, Quebec, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
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