Banking & federal reserve terms

A financial institution that is licensed to accept checking and savings deposits and make loans.

• bank
• credit card

• credit union
• federal reserve

A bank account where you can make cash withdrawals or deposits.

• IRA account
• Checking account
• Credit card
• Savings account

A interest-bearing deposit account held at a bank or other financial institution

• Checking account
• Investment account
• Savings account
• Credit card

The monetary charge for the privilege of borrowing money.

• Principal
• Dividend
• Equity
• Interest

A type of credit vehicle in which a sum of money is lent to another party in exchange for future repayment of the value or principal amount.

• Debt
• Mortgage
• Investment
• Loan

A three-digit number that rates your creditworthiness.

• credit value
• credit grade
• credit score
• credit rating

A payment card that deducts money directly from your checking account

• Savings card
• Credit card
• Gift card
• Debit card

Refers to the central bank of the U.S. The Fed, as it is commonly known, regulates the U.S. monetary and financial system.

• Central Bank of Europe
• Wall Street Bank
• Federal Reserve
• Bank of America

A set of tools used by a nation's central bank to control the overall money to supply and promote economic growth and employ strategies.

• Monetary policy
• Fiscal policy
• Trade policy
• Foreign policy

A measure of how quickly prices are increasing over time.

• Stagnation
• Deflation
• Inflation
• Recession