banker’s credit
81standby letter of credit — An obligation issued by a bank on behalf of a bank customer to a third party. A standby letter of credit is a bank promise to pay the third party in the event of some defined failure by the bank s customer, usually, but not always, a failure to… …
82Fair Credit Reporting Act — ( FCRA) Consumer protection legislation enacted in 1968 as part of the Consumer Credit Protection Act to ensure that the banking system in the United States would have a reliable credit reporting system. The stated purpose of the Fair Credit… …
83Cheque and Credit Clearing Company — The Cheque and Credit Clearing Company Limited is a membership based industry body with 12 settlement members. The company has managed the cheque clearing system in England and Wales since 1985, and in all of Great Britain since 1996 when it took …
84Agricultural Credit — Any of several credit vehicles used to finance agricultural transactions, including loans, notes, bills of exchange and banker s acceptances. These types of financing are adapted to the specific financial needs of farmers, which are determined by …
85Equal Credit Opportunity Act — ( ECOA Pronounced ee) A Federal statute that makes it illegal for creditors to discriminate in any aspect of a credit transaction on the basis of sex, marital status, age, race, national origin, color, religion, receipt of public assistance, or… …
86documentary credit — /ˌdɒkjumɛntri ˈkrɛdət/ (say .dokyoohmentree kreduht) noun a credit established by a banker at the request of an importer, under which the banker s name is used as drawee of bills of exchange covering the cost of goods sold to the importer, such… …
87clean letter of credit — A letter of credit that can be drawn upon with a simple written request not supported by other documentation. Often used to identify or describe standby letters of credit. This type of letter of credit is often used to enhance the credit quality… …
88traveler's letter of credit — noun a letter of credit given to a traveler • Syn: ↑traveller s letter of credit • Hypernyms: ↑letter of credit • Hyponyms: ↑traveler s check, ↑traveller s check, ↑banker s check …
89traveller's letter of credit — noun a letter of credit given to a traveler • Syn: ↑traveler s letter of credit • Hypernyms: ↑letter of credit • Hyponyms: ↑traveler s check, ↑traveller s check, ↑banker s check …
90Bank credit — Bank Bank, n. [F. banque, It. banca, orig. bench, table, counter, of German origin, and akin to E. bench; cf. G. bank bench, OHG. banch. See {Bench}, and cf. {Banco}, {Beach}.] 1. An establishment for the custody, loan, exchange, or issue, of… …
