E
Banking Terms - Eearnings credit rate (ECR) - (adjustment factor that reduces bank service charges on business checking accounts)
Earnings per Share (EPS) - (reporting of a company's profit on a per-share of common stock basis - earnings divided by the number of shares)
Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) - (landmark legislation designed to cut taxes over ten years)
Edge Act Corporation (EDGE) - (banking corporation financing international commerce, chartered by the Federal Reserve Board under a 1919 amendment to the Federal Reserve Act - it is a subsidiary of a bank, which offers services only to non-U.S. residents and institutions)
Education Savings Account (ESA) - (savings plan for educational expenses authorized by the Economic Growth and Tax Relief Act of 2001)
Electronic Banking (E-banking) - (systems which provide electronic delivery of banking products to customers, including automated teller machine (ATM) transactions, online account opening, Internet banking transactions, and telephone banking)
Electronic Bill Payment and Presentment (EBP&P) - (Internet-based billing service allowing consumers to pay credit card and other retail bills from a personal computer)
Electronic Check Clearing House Organization (ECCHO) - (Not-for-profit national check clearinghouse owned by its 3,000 member financial institutions dedicated to promoting electronic check collection and related payment system improvements.)
electronic check presentment (ECP) - (method of check clearing in which a digital image of a check, with the check writer's account number and other payment data, is sent electronically (presented) to the paying bank)
electronic commerce (EC) - (the buying and selling of goods and services on the Internet)
Electronic Communications Network (ECN) - (any one of a number of electronic systems used in securities markets that displays and matches orders)
Electronic Data Gathering, Analysis, and Retrieval (EDGAR) - (online database maintained by the Securities and Exchange Commission (SEC), which provides document filing capabilities and company information search services)
electronic data interchange (EDI) - (the electronic exchange/transmission of transactions/data between companies using computer networks such as the Internet)
Electronic Data Interchange for Administration, Finance, Commerce, and Transportation (EDIFACT) - (the electronic exchange of transactions/data between companies using computer networks such as the Internet)
Electronic Funds Transfer (EFT) - (transfer of funds between bank accounts by electronic means rather than by conventional paper-based methods, such as checks)
Electronic Funds Transfer Act of 1978 (EFTA) - (as implemented by Regulation E, establishes the rights and liabilities of consumers, as well as the responsibilities of all participants in Electronic Funds Transfer (EFT) activities; sets standards for the transmission of funds electronically)
Electronic Payments Network (EPN) -
Electronic Transfer Account (ETA) - (bank account for electronic direct deposit of Social Security and other federal payments to individuals)
Emergency Economic Stabilization Act of 2008 (EESA) - (created the Troubled Asset Relief Program (TARP) and guarantee programs intended to stabilize the financial system and deal with the financial crisis)
Employee Retirement Income Security Act (ERISA) - (1974 federal law that set investment guidelines for private pension and profit-sharing plans along with rules for employee vesting and plan administrator conduct)
Employee Stock Ownership Plan (ESOP) - (stock ownership plan where employees have the opportunity to purchase shares of their company's stock)
Employee Stock Purchase Plan (ESPP) - (program offered by employers that enables employees to purchase company stock at a discount to fair market value)
Employer Identification Number (EIN) - (IRS number assigned to companies with employees for identifying and reporting payroll tax payments)
Employment Cost Index (ECI) - (Bureau of Labor Statistics report which provides comprehensive data on employee compensation, labor costs, and employment trends)
enhanced due diligence (EDD) - (elevated/increased level of scrutiny of customers posing higher money laudering or terrorist financing risks)
Equal Credit Opportunity Act (ECOA) - (federal law enacted in 1974 requiring lenders to give businesses and consumers equal access to credit)
EURO - monetary/currency unit of the member countries of the European Union - replaced the European Currency Unit (ECU)
Euro Interbank Offered Rate (EURIBOR) - (benchmark interest rate for Euro-denominated loans and debt instruments)
Euro Overnight Index Average (EONIA) - (benchmark interest rate in the Euro Zone for overnight bank loans)
European Bank for Reconstruction and Development (EBRD) - (development bank created in 1990 to recapitalize the former Soviet bloc countries)
European Central Bank (ECB) - (bank founded to oversee monetary policy in the European Community countries)
European Currency Unit (ECU) - (monetary unit of the European Community from 1979 until the introduction of the Euro in January 1999)
European Economic Community (EEC) - (former name of the European Community until 1993 - an economic alliance of European countries)
European Monetary System (EMS) - (1979 agreement by European nations to link their currencies, with the objective of limiting currency variations and keeping inflation in check)
European Monetary Union (EMU) - (organization established by the Maastricht Treaty in 1993 to deal with monetary policy within the European Community)
European System of Central Banks (ESCB) - (system/organization made up of the central banks of the European countries plus the European Central Bank)
European Union (EU) - (loose federation of European countries who have agreed to membership and agreed to abide by agreed-upon laws)
examiner in charge (EIC) - (bank examiner responsible for reviewing a bank's compliance with Bank Secrecy Act/Anti-Money Laundering (BSA/AML) requirements)
Exchange-Traded Fund (ETF) - (security based on a market index, which is traded on a stock exhange)
Export-Import Bank (EXIMBANK) - (bank set up by Congress in 1934 to encourage U.S. trade with foreign countries)
Export Trading Company (ETC) - (trading organization supplying support services, such as warehousing and shipping, required by the export trade)