Glossary of Financial Terms

G

Glass-Steagal Act

A section of the Banking Act of 1933 specifying differences between investment banks and banks that accept deposits.

Grace Period

The period between the time that goods or services are purchased on credit and the time when interest begins to accrue.

Guaranteed Investment Certificate

An investment certificate issued by a government or financial institution that bears a specific percentage interest rate and matures after a specific time period has elapsed.

Guarantor

A person who guarantees repayment of a loan or mortgage in the event that the original borrower is unable to fulfill those repayment obligations.

· See Also · Cosigner

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