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Bancassurance is an agreement between a bank and an insurance company, through which the insurer can sell its products to the bank’s customers. The bandwagon effect is when people start doing something because it seems like everyone else is doing it. A bank is a financial institution licensed to accept deposits and issue loans. The Bank Note Swap Rate (BBSW) is a short-term interest rate used as a benchmark for valuing Australian dollar derivatives and securities, primarily floating rate bonds. Bank equity is the difference between a bank’s assets and its liabilities and represents the bank’s net worth or the value of its equity to investors. A bank confirmation letter (BCL) confirms that the bank has a line of credit with one of its customers. A bank loan is the total amount of funds that an individual or legal entity can borrow from a financial institution. Savings and current accounts accept bank deposits. A bank draft is a negotiable document, the payment of which is guaranteed by the issuing bank. A bank guarantee is when a credit institution promises to cover losses if the borrower defaults on the loan.