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bank interest

Overview page. Subjects: Accounting.

The interest charge made by a bank to a person or company, based on the daily cleared overdraft balance or a committed loan. The interest rate will usually be the base rate plus between 1%...

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Bank of England

Overview page. Subjects: Financial Institutions and Services.

The central bank of the UK. It was established in 1694 as a private bank by London merchants in order to lend money to the state and to deal with the national debt. It came under public...

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bank rate

Overview page. Subjects: Economics.

The rate at which the central bank, in the UK the Bank of England, is prepared to lend to the other banks in the banking system. It is now more commonly known as the base rate.

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base rate agreement

Overview page. Subjects: Economics.

(Money markets; UK).

A forward rate agreement where the reference rate is the bank's base (lending) rate.

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benchmark

Overview page. Subjects: Science and Mathematics — Social Sciences.

A source against which one compares the area that is being researched. For example, one may compare the results of a study in one region to the results of the nation as a whole.

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finance-house base rate

Overview page. Subjects: Financial Institutions and Services.

The rate of interest charged by a finance house for hire purchase, leasing, and other borrowings. It is based on the London Inter Bank Offered Rate plus a margin.

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floating-rate interest

Overview page. Subjects: Economics.

An interest rate on certain bonds, certificates of deposit, etc., that changes with the market rate in a predetermined manner, usually in relation to the base rate.

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interest rate

Overview page. Subjects: Economics.

The cost or price of borrowing; or the gain from lending, normally expressed as an annual percentage amount (cf. continuous compounding; decompounding).

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interest-rate margin

Overview page. Subjects: Financial Institutions and Services.

1 The difference between the interest rate at which banks lend and the rate they pay on deposits. It is likely to be a major indicator of a bank's profitability.

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lender of last resort

Overview page. Subjects: Economics.

A country's central bank with responsibility for controlling its banking system. In the UK, the Bank of England fulfils this role, lending to discount houses, either by repurchasing...

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