A record showing the amount of PREMIUM RESERVE DEPOSIT currently being held by the REINSURED.
A portion of the revenue generated from a merchant's credit card transactions, which is held in reserve by the acquiring bank to cover possible future disputed charges, fees and other expenses. After a predetermined time, reserves are released from these accounts and deposited into the merchant's checking account, usually with no interest accumulated.
A type of credit enhancement used in some asset backed securities. The reserve account may be created by an initial deposit from the seller and may be augmented over time by the application of funds from excess servicing income. Credit is enhanced because withdrawals from the reserve account are made to reimburse investors when excess servicing is insufficient to cover charge -offs. Until needed, funds in a reserve account are invested.
An account established by the factor to track funds owed to a client as factored invoices are paid. The account amount equals the invoice face value minus the advance, the factor's fees, charge backs and administrative charges.
funds taken out of earnings to provide for anticipated future payments
an account established by an HOA to cover the future costs of repair and replacement of common-area assets
The account set up to track funds owed to the client from the collection of factored invoices. The reserve account balance can be calculated by taking the invoice face value and subtracting the initial advance, the factor's earned fees, and any charge backs and administrative charges.
The reserve is a percentage of the face falue of an invoice held by factor at the time of purchase of invoices. This account is established by the factor to offset any short pays, accrued interest, or other problems that may be incurred by its customer or their clients.
an account in a cashflow CDO where income from the assets are diverted in the event of a failure of IC, OC or other tests rather than being paid to tranche holders in premium (or thereabouts)
An account maintained by merchant at the processor's sponsoring bank. This account allows the processor to issue a hold on funds in this account when fraud has been detected or an excessively large number of returns is received. Typically reserve account is set at about 20% of the anticipated processing volume. Merchants having a good credit and history are not always required to keep a reserve account.
A portion of the revenue from a merchant's credit card transactions, held in reserve by the merchant account provider to cover possible disputed charges, chargeback fees, and other expenses. After a predetermined time, holdbacks are turned over to the merchant. Note: Merchant account providers almost never pay interest on holdbacks.
set up by the credit card processing company to protect themselves in case of losses due to chargebacks or if the merchant defaults on their merchant account
Non-interest bearing account that contains the funds deposited by a financial institution to meet its reserve requirements. In the U.S., banks that are members of the Federal Reserve System deposit their funds at a Federal Reserve Bank. Non-member banks deposit their funds with either a Federal Reserve Bank or an approved correspondent bank. The combined funds in the reserve accounts enable the exchange of funds between depository institutions using the FedWire system.
A non-interest earning balance that depository institutions maintain with the Federal Reserve Bank or with a correspondent bank to satisfy the Fed's reserve requirements. Reserve account balances play a central role in the exchange of funds between depository institutions.
An accounting entry found on income and expense statements that shows the monthly cost or "reserve" that a property must realize in order for it to have adequate funds to replace or repair substantial items at a property, such as the roof and floor coverings.
One method that ACH Processor's use to mitigate risk, is to require that merchants maintain a Reserve Account at the Processor's Sponsoring Bank. This allows the Processor to issue a Hold on funds in this account when fraud has been detected or an excessively large number of returns is received. Merchants with good credit and history can usually meet the expectations of ACH Processors for covering returns and so are not always required to keep a reserve account. In cases where a reserve is required, the minimum-reserve-balance in the account is set at about 20% of the anticipated processing volume. New merchants are usually allowed to build up their reserve by sending in transactions which are not withdrawn until the minimum reserve balance is achieved; after that, the merchant is allowed to withdraw the excess funds for transfer to their home town bank.
Merchant funds maintained at BankCard USA to be utilized for any potential losses generated from a merchant account, such as unpaid chargebacks or other unpaid fees.
An account funded by the hospital and held by the Trustee in a tax-exempt revenue bond transaction. The Reserve Account usually contains one year’s principal and interest payment, which theoretically enables the hospital to correct operating problems without missing a bond payment.
A fund set aside out of premiums retained temporarily by the reinsured to provide for the payment of claims that are ultimately the liability of the reinsurer under a reinsurance treaty / A fund that an insurer may be required by a government to maintain in a country to provide for the payment of claims in that country.
A separate account maintained in a State unemployment fund with respect to a subject employer to which are credited contributions paid by such employer and to which are charged all and only those benefits which are based on services performed for such employer.
Portion of funds included in a mortgage payment set aside for some specific purpose; e.g., insurance, taxes, etc.
An account that a borrower has to fund to protect the lender. Examples include capital expenditure accounts and deferred maintenance accounts.