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bed and breakfast deal

bed and breakfast deal  n.— «Keeping loans off the books of Anglo every year for eight years meant that the €87 million in loans did not emerge in the snapshot of the bank that the independent auditors, Ernst Young, take every year for the...

smishing

smishing  n.— «Scams via text message are becoming so widespread there is actually a new name for it—”smishing”—a takeoff of SMS text messaging and phishing.» —“Text Message Scam Targeting U.S. Bank...

U-turn transaction

U-turn transaction  n.— «Iranian banks and other institutions could previously send transactions through US banks as long as they were initiated by a non-Iranian or American bank outside the US and ended in a non- Iranian or American bank...

passporting

passporting  n.— «Some banks had been allowed to open branches in the UK through a process known as “passporting,” which meant they were not regulated by the FSA, explained Lord Davies.» —“UK ‘ignored Iceland bank...

zombie economy

zombie economy  n.— «Yuen Pau Woo was the economist responsible for Japan in Singapore’s central bank when the Japanese bubble—helped by a run-up in real estate prices that made Park Ave. co-ops look affordable—caused the world’s second...

cuckoo smurfing

cuckoo smurfing  n.— «AFP agent Mark Creighton told the court “cuckoo smurfing” was when criminals replaced legitimate money intended for legal transfer into Australian bank accounts with the proceeds of crime. The original...

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