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Banking Terms - TTax Anticipation Bill (TAB) - (U.S. Treasury bill sold on an irregular basis and scheduled to mature in periods of heavy tax receipts - intended to provide interim funding until tax payments are received)
Tax Anticipation Note (TAN) - (short-term note issued by states and municipalities to finance current operations, with repayment from aniticipated tax receipts)
Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) - (federal legislation designed to raise tax revenue by closing various loopholes and instituting tougher enforcement proceedures)
Taxpayer Identification Number (TIN) - (IRS identification number needed before most bank accounts can be opened - for individuals and sole proprietors, the tax number is the individual's Social Security number; for corporations and partnerships, the TID is the employer identification number (EIN))
Third-Party Service Provider (TPSP) - (an entity that processes ACH entries on behalf of a bank, but not considered a party to the ACH transaction, such as an originator or receiver)
time deposit (TD) - (savings account or certificate of deposit held in a financial institution for a fixed term or with the understanding that the depositor can withdraw only by giving notice)
Trade Based Money Laundering (TBML) - (money laundering involving international, or domestic, trade, such as bulk shipping of raw materials or trade in high-risk activities, such as military arms dealing)
Trading With the Enemy Act (TWEA) - (1917 law providing for sanctions against companies doing business with Germany)
Transaction Account Guarantee Program (TAGP) - (guarantee of the Federal Deposit Insurance Corporation (FDIC) that provided customers of insured depository institutions with full coverage on noninterest bearing transactions until December 31, 2010, when it expired)
Transferable Underwriting Facility (TRUF) - (Euronote facility allowing the original underwriter, the project manager, to reserve the right to transfer the commitment to another agent willing to assume financial responsibility)
Travel and Entertainment (T&E) - (type of business expense);
(type of charge card used to pay for hotel, airline, and similar employee expenses, which provides a summary statement of expenses charged)Treasury General Account (TGA) - (general checking account for the U.S. Treasury Department maintained at the Federal Reserve Bank of New York)
Treasury Investors/Income Growth Receipts (TIGER/TIGR) - (a form off zero-coupon security - U.S. government-backed bonds that have been stripped of their coupons)
Treasury Tax and Loan account (TT&L) - (checking account balances maintained by the U.S. Treasury Department at depository institutions, primarily commercial banks)
Troubled Asset Relief Program (TARP) - (government program created by the Emergency Economic Stabilization Act (EESA) of 2008, to purchase up to $700 billion in illiquid mortgage-backed securities or other assets from U.S. financial institutions)
true interest cost (TIC) - (annual percentage rate cost of credit, including finance charges, credit life insurance, discount points, and prepaid interest)
true interest cost (TIC) - (actual cost of issuing a bond, taking into account the present value (time value) of money - commonly used in municipal bond offerings)
Trust Preferred Securities (TRUPS) - (hybrid securities issued by bank holding companies with characteristics of preferred stock and subordinated debt which could count towards capital requirements - TRUPS were to be phased out under the Dodd-Frank Act (DFA) of 2010)
Truth in Lending Act (TILA) - (act, part of the Consumer Credit Protection Act of 1968, which requires vendors to disclose the method of computing finance charges, the conditions under which a finance charge may be imposed, and the finance charge expressed as an annual percentage rate)
Truth in Savings Act (TISA) - (act, part of the Federal Deposit Insurance Improvement Act (FDICIA) of 1991, requiring financial institutions to disclose terms and conditions regarding interest and fees when giving out information on or opening a new savings account)