Jargon buster

This is a straightforward, non-technical guide to the often-confusing jargon used in financial services regulation. It aims to give a set of basic definitions, in plain language, for a wide range of acronyms, products, and terms as used in RegZone reports. It is designed to be suitable for non-lawyers, and comprehensible without too much prior knowledge or cross-referencing.

*entries marked with an asterisk refer to the UK only

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Term

Explanation

  • Continuous Payment Authority (CPA)*
    A CPA authorises a business to take money out of a bank account on a regular basis.
  • Council of Mortgage Lenders (CML)*
    UK trade association for representing the residential mortgage lending industry.
  • Council of the European Union (CEU)
    One half of EU legislature (the other being the European Parliament). The Council is composed of government ministers from each member state; for this reason it is sometimes called the 'Council of Ministers'. When it is EU finance ministers sitting together, that configuration of the Council is known as ECOFIN. The Council of the European Union is not to be confused with the European Council.
  • Credit Broking
    (Consumer credit) introducing a prospective borrower to a potential lender, or helping them to sign a credit agreement with the latter
  • Credit Default Swap (CDS)
    A contract whereby the seller agrees to compensate the buyer in the event of a third party defaulting on a debt obligation.
  • Credit Rating Agency (CRA)
    A company that reviews the creditworthiness of financial products, companies, and bond-issuing states.
  • Credit Repair Firm
    Firm that provides credit information services to individuals that wish to repair their credit rating.
  • Credit Valuation Adjustment CVA
    Credit Valuation Adjustment
  • Czech National Bank (Česká národní banka) (CNB)
    Central bank of the Czech Republic supervising the Czech financial market (including MiFID). The competent authority for the authorisation and supervision of: - payment institutions (including Czech banks and branches of foreign banks in the Czech Republic); - savings cooperatives; - electronic money institutions; - payment systems operators; - securities brokers; - securities issuers; - the Central Securities Depository and other entities maintaining investment instruments; - investment companies and investment funds; - clearing systems operators; - operators of financial instruments markets - insurance companies, re-insurance companies; - pension funds and pension companies; - insurance brokers; - entities processing cash payments.
  • Debt Adjusting
    (Consumer credit) Negotiating with a creditor on behalf of a debtor, and/or taking over the latter's (present) debts in return for (future) payment