Specialists in a bank’s trust department provide a wide variety of customer services. They aid companies in managing their employee retirement programs, issuing securities, maintaining business records, and investing funds. Consumers also receive help in man aging their property and in building an estate for retirement. Men and women employed in bank trust departments usually posses a wide range of backgrounds in commercial and property law, real estate appraisal, securities investment strategies, financial statement analysis, and marketing.
More from this Section
Dollarization is the replacement of a foreign currency with U.S. currency with U.S. dollars. This process is a step....
- Measuring Exchange Rate
An exchange rate measures the value of one currency in units of another currency. As economic conditions change, exchange rates can change substantially.
- Correspondent Bank
Correspondent Bank refers formal relationships which is established between an overseas bank and a domestic bank to facilitate international banking transactions.
- Retire (a Bill of Exchange)
Retire (a Bill of Exchange) is to pay, or take up before maturity, usually under rebate and thus withdraw (or retire) a bill from circulation.
- Revolving Letter of Credit
Revolving Letter of Credit is a Letter of Credit in which the value of the Letter of Credit is automatically reinstated upon utilization. A Letter of
- Risk Assessment
Risk Assessment is a process used to identify and evaluate risks and their potential effect.
- Bank run
Bank run is a financial panicking, in which all depositors attempt to withdraw all of their funds simultaneously.