B
Banking Terms - BBalance of Payments (BOP) - (system of recording all of a country's economic transactions with the rest of the world during a particular time period)
Balance of Trade (BOT) - (net difference over a period of time between the value of a country's imports and the value of its exports of merchandise)
bank draft (BD) - (check, drawn by a bank against its own funds deposited in another bank)
Bank Holding Company (BHC) - (entity controlling one or more commercial banks)
Bank Holding Company Act of 1956 (BHCA) - (defines a bank holding company and governs the activities of companies that control banks, including Bank Holding Companies and Financial Holding Companies)
Bank Identification Number (BIN) - (ABA transit number - numeric coding facilitating check clearing - based on a unique identifier assigned to each U.S. financial institution by the American Bankers Association)
Bank Identification Number (BIN) - (numeric code used on bank cards, such as Visa or MasterCard, which identifies the issuing financial institution)
Bank Insurance Fund (BIF) - (fund administered by the Federal Deposit Insurance Corporation (FDIC) which insured deposits in commercial banks until 2006, when it was merged into the Deposit Insurance Fund (DIF))
Bank for International Settlements (BIS) - (international financial organization, based in Basel, Switzerland, that acts as a bank for central banks of major industrial countries)
Bank Investment Contract (BIC) - (contract issued by a bank, guaranteeing a fixed rate of return on invested capital over the life of the contract)
Bank Merger Act (BMA) - (alternate name for the Federal Deposit Insurance Act (FDIA) of 1950 - legislation which revised and consolidated earlier FDIC legislation into one act)
Bank Secrecy Act of 1970 (BSA) - (Currency and Foreign Transactions Reporting Act) (federal legislation which established requirements for record keeping and reporting by private individuals, banks and other financial institutions)
Bank Secrecy Act/Anti-Money Laundering (BSA/AML) - (Anti-Money Laundering laws, regulations, procedures and reports required by the Bank Secrecy Act)
Bank Secrecy Act Currency Transaction Report (BSA CTR) (BCTR) - (electronic report of currency transactions which provides a uniform data collection format suitable for use by multiple industries)
Bank Secrecy Act Identification Number (BSA-ID) - (number used in FinCen (Financial Crimes Enforcement Network) Query System database)
Bank Secrecy Act Suspicious Activity Report (BSA SAR) (BSAR) - (report of unusual activity which might indicate laundering of money from illegal activity, as required by the Bank Secrecy Act)
Bank Service Corporation Act (BSCA) - (legislation setting rules for service corporations - organizations providing services such as clerical and accounting services to banks)
Banks, Other subsidiaries, Parent, Earnings, Capital (BOPEC) - (former rating method used to assess Bank Holding Companies)
Banker Association for Foreign Trade - International Financial Services Association (BAFT-IFSA) - (organization representing banks involved in trade finance, payments, compliance, and asset servicing)
Banking and Securities Industry Committee (BASIC) - (committee organized in 1970 by the securities industry to promote uniform bank office standards in securities trading and settlement)
Basel Committee on Banking Supervision (BCBS) - (committee of central banks, bank supervisors and regulators, from numerous jurisdictions that meets at the Bank for International Settlements (BIS) to discuss issues relating to banking supervision)
Beginner's All-purpose Symbolic Instruction Code (BASIC) - (computer language good for programming simple calculations)
bill of exchange (BE) - (an order by one person directing a second party to pay a third)
black market peso exchange (BMPE) - (market outside legal currency exchanges where pesos can be bought and sold)
Board of Trustees (BOT) - (group of individuals named, or elected, to manage a non-stock corporation - mutual savings bank, mutual fund, foundation, or university)
Bond Anticipation Note (BAN) - (short-term debt instrument with a maturity under a year, issued by a municipality or local government, usually for capital improvement projects, that is paid off when long-term bonds are issued)
bot - robot (a piece of computer code that carries out various functions on behalf of its master/developer - bots can be used for legitimate purposes, to perform repetitive tasks, but can also be used as malware)
broker price opinion (BPO) - (estimate of the probable selling price of a residential property based on the selling prices of comparable properties in the area)