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Bad check
A check drawn on an account that does not have enough funds to cover the amount of the check.
Balance sheet
Provides information on what the company owns (its assets), what it owes (its liabilities) and the value of the business to its stockholders (the shareholders' equity) as of a specific date.
Bank card
Any card issued against a depository account, such as an ATM card or a debit card.
Bank card association
An organization owned by financial institutions that licenses bank credit card programs. The two national and best-known bank card associations are Visa and Mastercard.
Bank examination
An evaluation of the safety and soundness of a bank.
Bank identification number (BIN)
The first six numbers that appear on a credit card.
Bank of first deposit
The bank where a customer first deposits a check to an account.
Bank reserves
The currency deposit that is not lent out to the bank's customers.
Created in 1970 to prevent financial institutions from being used as tools by criminals to hide or launder their ill-gotten gains. This law requires banks and other financial institutions to provide documentation such as currency transaction reports to regulators. This documentation is required from banks whenever their clients deal with suspicious cash transactions that involve sums of money over $10,000.
Listing of deposits, withdrawals, checks paid, interest earned, and service charges against an account occurring during an accounting period, usually monthly.
Base I
The first electronic authorization system for credit card payments.
Base II
A data processing system operated by Visa for the clearing and settlement of bank card transactions between card-honoring financial institutions and card issuers.
BIN
See Bank identification number (BIN).
Brokered deposit
A deposit made to a bank by a third-party deposit broker. A deposit broker is a person who places other peoples' deposits with insured institutions. The brokered deposits are usually large-denomination and are often sold by a bank to a brokerage, which then divides it into smaller pieces for sale to its customers. Brokered deposits make up one of two types of deposits that make up a bank's deposit liabilities.
BSA
Business day
A calendar day other than a Saturday, a Sunday, or any legal public holiday.
