- Industria: Financial services
- Number of terms: 25840
- Number of blossaries: 0
- Company Profile:
UBS AG, a financial services firm, provides wealth management, asset management, and investment banking services to private, corporate, and institutional clients worldwide.
Also: portfolio management mandate. Limited power of attorney empowering the authorised agent to perform management and administrative acts, but not conferring any authority with regard to disposal. See also managed account.
Industry:Banking
Fund-like pool of assets. Units are offered solely to clients who already have assets under management with the bank operating the fund. Under Switzerland's Investment Fund Act, a bank may not publicly advertise inhouse funds.
Industry:Banking
Abbr.: CMBS. Security that is backed by the cash flows of a mortgage or pool of mortgages on commercial real estate. See also mortgage-backed security.
Industry:Banking
Contractual assignment of a debt to a new creditor with regard to either a single obligation or to individual specially designated obligations.
Industry:Banking
A voluntary agreement between parties secured only by the honour of the participants. In Switzerland, this expression is often applied to the agreements between the commercial banks and the Swiss National Bank.
Industry:Banking
Interest in property that exists by contract as security for payment of a defined capital amount plus to a limited extent of interest and administrative costs over and above this amount. See also maximum sum mortgage.
Industry:Banking
Agreements are reached whereby all transactions are carried out in conjunction with a partner, with all profits or losses split equally between the parties.
Industry:Banking
Also: participation capital. Capital raised in addition to a company's share capital, as provided for in its articles of association. Legally governed in Switzerland by OR 656b. Participation capital may not exceed two times share capital. No minimum capital or minimum contribution (unlike with share capital).
Industry:Banking
Liability items in the balance sheet charged to the profit and loss account to cover future liabilities or anticipated losses. Frequently listed under other liabilities in the balance sheet. Provisions for risks in the lending business and in foreign exchange trading are of particular significance for banks. Specific provisions are set aside to cover particular risks, while contingency (del credere) reserves or provisions cover general expected losses which cannot yet be specified in detail. Contrary to reserves, provisions are not allocated from the net profit but from operating profit.
Industry:Banking
