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Financial Terms

Electronic Clearing Service (ECS)

This system allows for the automatic transfer of funds from one bank account to another.

Understanding the intricacies of financial transactions is crucial in the world of finance. One such method is the Electronic Clearing Service (ECS), utilized by banks, corporations, and financial institutions for seamless payment transfers. This automated system eliminates the need for manual intervention and enables swift and secure fund transfers between two bank accounts. Let's delve deeper into the workings of ECS and its significance in the financial landscape.

Global Indices

In the world of finance, we often refer to benchmarks as the standard by which we measure the performance of a market. They provide us with a way to evaluate the strengths a...

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Merger

This new entity is then able to combine their resources, strengths, and expertise to create a larger, more competitive organization. A merger occurs when two distinct entiti...

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Financial Reporting Framework (FRF)

It includes accounting principles, standards, and guidelines that must be followed in recording and reporting financial data. It is important for businesses to have a solid u...

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SLR

This helps ensure the safety and stability of the banking system. Welcome to our lesson on Statutory Liquidity Ratio (SLR), a key term in the world of finance. As a knowledg...

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