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Bank loans to their customers. These may be unsecured loans, but are often secured by the bank holding stocks and shares or life insurance policies owned by the borrower.
committed facility
An agreement between a bank and a customer to provide funds up to a specified maximum at a specified interest rate (in the UK this is usually based upon an agreed margin over the London Inter Bank ...
condition
N.1 A major term of a contract. It is frequently described as a term that goes to the root of a contract or is of the essence of a contract (see also time provisions in contracts); it is contrasted ...
convertible revolving credit
(Banking).Revolving credit facility that can, at the request of the borrower, be converted into a fixed-term facility.
credit facility
A short-term borrowing arrangement with a bank or other lender (for instance a broker-dealer) which may take many forms (cf. overdraft; revolving facility term loan).
drawdown period
(Banking).The period of time after signing a credit facility that a borrower may delay the taking down of funds in full or in part (cf. rollover). See revolving credit facility.[...]
evergreen credit
. (Banking).Used to describe a revolving credit facility without a fixed maturity that a bank can, normally ever year, choose to convert into a term credit.
loan
Money lent on condition that it is repaid, either in instalments or all at once, on agreed dates and usually that the borrower pays the lender an agreed rate of interest (unless it is an ...
loan draw down
Borrower calling on funds from a loan or financing facility. Also just called a drawdown. See commitment fee; grace period; revolving line of credit; revolving underwriting facility; term loan.
non-revolving bank facility
A loan from a bank to a company in which the company has a period (often several years) in which to make its drawdowns, as well as flexibility with regard to the amount and timing of the drawdowns, ...
revolving credit facility (Banking) Reference library
The Handbook of International Financial Terms
A loan which allows the borrower the flexibility to draw down amounts as required, repay, and draw again up to
revolving line of credit (Banking) Reference library
The Handbook of International Financial Terms
A credit facility where the borrower pays a commitment fee and may draw and repay funds according to requirements.
standby credit
A letter of credit that guarantees a loan or other form of credit facility. The bank that issues it promises to refund the amount borrowed if the borrower defaults on repayment. It calls for a ...
syndicated bank facility
A very large loan made to one borrower by a group of banks headed by one lead manager, which usually takes only a small percentage of the loan itself, syndicating the rest to other banks and ...
syndicated loan
A loan provided by a syndicate of banks or other lending institutions. Such loans, often to less developed countries, are usually arranged by one or a small group of leading banks negotiating the ...
