Banking Articles

These Banking articles will give you the news and information you need to stay up to date in the ever changing Banking industry.

January 2, 2013 – 1,382 views
Banker Resource
A record or document retention policy sets the ground for a systematic retention and review of documents that are created and received in a business. This policy will also detail how and when documents need to be destroyed. Document retention policies play a significant role in organizations and should be reviewed regularly. Some of the reasons why you should review your document retention policy are discussed below... Full Story 
December 28, 2012 – 17,064 views
Banker Resource
Signature cards are what banks use to identify rightful signers on both personal and business bank accounts. Signature cards are signed by the account holders when the account is first established and when signers, or account holders, are removed or added. The information listed on signature cards usually include general account information such as the account number and the type of account (ie. checking, savings) as well as the personal information of each signer, such as name, date of birth, social security number, and address. Each signer is required to... Full Story 
December 20, 2012 – 1,317 views
Banker Resource
Understand that the requirements for construction lending involve criteria and mandates established to protect both the lending institution, mortgage brokers and, ultimately, the consumer. Know that the loan is of a short-term nature, converting to a permanent credit product once building concludes. Recognize that these loans are superb for the customer who owns property currently, as the land often serves as sound collateral for the credit issuance. Consider the following criteria when evaluating a consumer's application for construction credit... Full Story 
December 14, 2012 – 1,278 views
Banker Resource
The fundamentals of set-off rights refer to either a creditor's explicit right, or an agreement by parties to identify portions of a debt that could be offset with other amounts owed, should one of the interested parties default. This statute was instituted in order to facilitate reconciliation between defaulted loan amounts and any deposit, retainers or separate amounts or accounts that could be used to offset the remaining defaulted principal... Full Story 
December 10, 2012 – 1,805 views
Banker Resource
Today’s economic times require nearly every person desiring to make a major purchase to borrow the funds that are needed. For this reason individuals must petition financial institutions and wait for the approval or rejection. Whether the proposed borrower is seeking assistance to purchase a new home, to renovate an old house, to buy a vehicle or to realize some other dream, that person will have to solicit financial assistance. If the applicant is not required to make a personal appearance before a financial review board, the results of the board’s decisions are directed to the applicant through the mail... Full Story 
December 4, 2012 – 1,698 views
Banker Resource
Working in the banking industry can be a challenge. This is especially true for those front line employees that have to balance between making the customers feel welcome and happy and adhering to the many regulations and rules that are present in the banking industry. It is vital to the success of the bank that the customers are happy but making them happy cannot override being compliant. There are certain things that a front line employee can do to maintain the necessary balance between customer service and being compliant... Full Story 
November 26, 2012 – 1,731 views
Shelly Kaundal
Risk Management in bank operations includes risk identification, measurement and assessment, and its objective is to minimise negative effects risks can have on the financial result and capital of the bank. Banks are required to form a special organisational unit for the purpose of risk management. The risk to which the bank is particularly exposed in its operations are market risk(interest rate risk, foreign exchange risk, risk from change in market price of securities, financial derivatives and commodities), credit risk, liquidity risk, exposure risk, investment risk, operational risk, legal risk, strategic risk. These risks are highly inter-independent. Events that affect one area of risk can have ramifications for a range of other risk categories... Full Story 
November 16, 2012 – 1,267 views
Banker Resource
Living trusts are legitimate planning options and a frequent legal tool used in estate-planning. Most trusts are set up to be revocable, and allow the property owner to change the arrangements of the trust at any time. In a living trust, a trustee is appointed. This trustee can be an appointed representative, or the trustee can be the property owner, with no change in who is in charge of the trust benefits. A trust will, however, allow for the seamless transfer of property, upon the demise of the property owner. This will conclude any benefits transfer, and a probate matter is, usually, not needed. With a banking matter, there may be several concerns that should be addressed:... Full Story