Glossary of Financial Terms

F

Fiat Money

Legal tender currency issued by a government's central bank that is not supported by gold or silver.

Fiduciary Account

An account held by one individual or entity for the benefit of another individual or entity.

Finance Canada

Canada's Finance Department responsible for the country's overall economic performance and for regulating Canadian financial institutions.

Financial Crimes Enforcement Network

Is a United States Department of Treasury organization whose mission it is to safeguard the financial system from the abuses of financial crime including terrorist financing, money laundering, and other illicit activity.

For more information please visit the FinCEN website

· See Also · Financial Transactions and Reports Analysis Centre of Canada

Financial Transactions and Reports Analysis Centre of Canada

Is a Canadian Government organization that receives, analyzes, assesses, and discloses financial intelligence on suspected money laundering, terrorist financing, and threats to the security of Canada.

Portfolio Plus banking software supports various feeds and uploads to FINTRAC. Contact SIT for more information.

To find out more visit the FINTRAC website .

FinCEN

Acronym for Financial Crimes Enforcement Network (see full definition - above).

FINTRAC

FINTRAC is an acronym for Financial Transactions and Reports Analysis Centre of Canada (see definition - above).

· See Also · Financial Transactions and Reports Analysis Centre of Canada

Fixed Assets

Cash, property or other assets of a company or organization that will not be sold or disbursed during the current fiscal year.

Fixed Deposit

A deposit made to an account that is intended to remain in that account for a specific time period that bears a specific rate of interest.

· See Also · Term Deposit · Certificate of Deposit

Fixed Rate

A rate of interest applied to a loan or deposit that will remain unchanged for the entire duration of the loan or deposit.

Foreign Exchange Rate

The rate used to convert funds of one currency to funds of another currency.

Foreign Transactions Reporting Act

Similar, or the same as, the Bank Secrecy Act

· See Also · FinCEN

Franchise

An arrangement by which a new business is established and allowed to use the existing names, tradmarks and products of another company.

Futures

A contract to buy stock in a company at a later date.

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