GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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38% - Moderately

International Banking


Synonyms:foreign banking, offshore banking, world banking
Filed Under: financial-banking
Tags: banking
 

Definition of international banking

international banking
1. The area of banking business that includes the operation of bank branches and subsidiaries located outside Canada, the supervision of correspondent banking relationships, foreign exchange trading and trade finance.

Related Terms and Acronyms:

  • bank   An institution that acts as a financial intermediary by receiving money from depositors and lenders and also lending to borrowers.
  • Canadian Bankers Association (CBA)   Professional industry association that provides information, research, advocacy, education and operational support services primarily to the banking industry.
      ➥  One of Canada's oldest business associations.
  • central bank   An institution that manages a nation's monetary policy.
  • electronic funds transfer (EFT)   The transfer of money between accounts by consumer electronic systems such as automated teller machines (ATMs), and electronic payment of bills.
      ➥  Also known as e-Transfer.
  • foreign currency (FCY)   Paper money and coins from other countries.
  • foreign exchange (F/X, FE, FOREX, FX)   Various instruments used to settle payments for transactions between individuals or organizations using different currencies (e.g., notes, cheques, etc.).
      ➥  Bank account transaction code.
  • lender   The bank or mortgage company offering the loan.
  • note   A legal acknowledgement of a debt and an implicit promise to repay. It includes the loan amount, interest rate and term.
  • regional bank   A bank with a primary market in a regional or metropolitan area but takes deposits from throughout the province in which it is located. Usually called a Credit Union in Canada.
  • specialized financing corporation   A term in the Bank Act referring to specialized business-management services such as making investments, negotiating mergers and acquisitions and many other services traditionally offered as merchant-banking services.

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