Browse the glossary by topic or alphabetically.


Buying and selling of invoices or accounts receivables
Fast track
Procedures enacted by the U.S. Congress under which it votes within a fixed period on legislation submitted by the president to approve and implement U.S. international trade agreements
Federal Deposit Insurance Corp. (FDIC)
An agency of the U.S. government that manages the bank insurance funds, which insure deposits at banks and other qualifying financial institutions up to $100,000 per account ($250,000 on retirement accounts) in interest and principal; mandatory for all nationally chartered banks and all banks that are members of the Federal Reserve System
Federal Housing Administration (FHA)
Federal agency that insures residential mortgages
Federal Reserve Bank
One of the 12 operating arms of the Federal Reserve System, located throughout the U.S. that together with their 25 branches carry out various functions of the U.S. central bank system
Federal Reserve System
Principal monetary authority (central bank) of the U.S., which issues currency and regulates the supply of credit in the economy; it is made up of a seven-member Board of Governors in Washington, DC, 12 regional Federal Reserve Banks and their 25 branches
Person or company entrusted with assets owned by another party (beneficiary) and responsible for investing the assets until they are turned over to the beneficiary
Fiscal policy
Federal government's decisions about the amount of money it spends and collects in taxes to achieve full employment and non-inflationary economy
Fiscal year
Any 12-month period used as an accounting period
Fixed annuity
Annuity contract in which premiums paid are credited with a fixed rate of return by the life insurance company
Fixed cost
Production cost which does not vary significantly with the volume of output (i.e. administrative costs)
Fixed ratev
Rate of interest that does not vary for the term of the loan or deposit
Amount of time the bank takes to clear or reject (bounce) a check for payment; the time at which funds are debited from the issuer's account
Form of licensing; the franchiser provides services through a series of franchisees
Free enterprise system
An economic system characterized by private ownership of property and productive resources, the profit motive to stimulate production, competition to ensure efficiency, and the forces of supply and demand to direct the production and distribution of goods and services
Free on board (FOB)
Commercial term in which the seller's obligations are fulfilled when the goods reach a point specified in the contract
Free trade
Absence of tariffs and regulations designed to curtail or prevent trade among nations
One who pursues a profession under no long-term contractual commitments to any one employer or company; they are on their own to find work, negotiate the terms and compensation for that work, and deliver the work to the satisfaction of the paying client; often used interchangeably with the terms independent contractor, consultant and vendor
Fringe benefit
Indirect, non-cash benefit provided to employees by employers in addition to regular wage or salary compensation, such as health insurance, life insurance, profit-sharing, etc.
Contracts that require delivery of a commodity of specified quality and quantity, at a specified price, on a specified future date
Full payment
Amount of money owed on a single account that, if paid, will reduce the account to a zero balance