Across
- 2. Member-owned financial co-operative. These institutions are created and operated by its members and profits are shared amongst the owners.
- 3. A debt instrument, secured by the collateral of specified real estate property, that the borrower is obliged to pay back with a predetermined set of payments.
- 4. The degree to which an asset or security can be bought or sold in the market without affecting the asset's price
- 6. A banking system in which only a fraction of bank deposits are backed by actual cash-on-hand and are available for withdrawal.
- 9. Funds held in an account from which deposited funds can be withdrawn at any time without any advance notice to the depository institution
- 11. The amount borrowed or the amount still owed on a loan.
Down
- 1. Interest that accrues on the initial principal and the accumulated interest of a principal deposit, loan or debt.
- 5. The failure to promptly pay interest or principal when due. Default occurs when a debtor is unable to meet the legal obligation of debt repayment.
- 7. A quick method of calculating the interest charge on a loan.
- 8. The amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets.
- 10. A short-term money market, which allows for large financial institutions, such as banks, mutual funds and corporations to borrow and lend money at interbank rates.