Build

It's much easier to start with good habits than to repair black marks later on.                                                                 

Read more...

Restore

You are invited to the most effective program available to clear mistakes made by creditors.

Read more...

Protect

Once you have obtained excellent credit, it is necessary for you to protect it.                                             

Read more...
Financial Glossary
Understanding Financial, Credit, & Real Estate Terms

E

 A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | XYZ  

Economic growth  —  An increase in the nation's capacity to produce goods and services.

Economic shocks  —  Events that impact the economy, come from outside it, and are unexpected and unpredictable (e.g., Hurricane Andrew in 1991, the rise in oil prices by OPEC).

Economy  —  The careful or thrifty use or management of resources, such as income, materials or labor.

Edge Act corporation  —  Corporation chartered by the Federal Reserve to engage in international banking. The Board of Governors acts on applications to establish Edge Act corporations and also examines the corporations and their subsidiaries. Named after Senator Walter Edge of New Jersey, who sponsored the original legislation to permit formation of such organizations. See also agreement corporation.

Elastic currency  —  The ability of currency to expand and contract to meet the needs of the economy.

Electronic banking  —  Conducted by Automated Teller Machines (ATMs), telephones (not via the Internet) or debit cards.

Electronic Funds Transfer (EFT)  —  Transfer of funds electronically rather than by check or cash. The Federal Reserve's Fedwire and automated clearinghouse services are EFT systems.

Electronic Funds Transfer Systems (EFTS)  —  A variety of systems and technologies for transferring funds (money) electronically rather than by check. Includes Fedwire, automated clearinghouses (ACHs) and other automated systems.

Employment cost index  —  A measure of total employee compensation costs, including wages, salaries and benefits. This is the broadest measure of labor costs.

Employment rate   —  The percentage of the labor force that is employed. The employment rate is one of the economic indicators that economists examine to help understand the state of the economy. See also unemployment rate.

Equal Credit Opportunity Act   —  Enacted in 1974, the Equal Credit Opportunity Act, or ECOA, seeks to ensure that non-credit-related factors, such as a person's race, national origin, or sex, do not enter into a decision to deny a person's request for credit.

Equilibrium  —  A situation in which the quantities demanded and supplied in a market are equal. Equilibrium exists when forces that cause changes in the market are in balance so that there is no tendency for the market price to change.

Equity  —  Ownership interest in an asset after liabilities are deducted.

Eurodollars  —  Deposits denominated in U.S. dollars at banks and other financial institutions outside the United States. Although this name originated because of the large amounts of such deposits held at banks in Western Europe, similar deposits in other parts of the world are also called Eurodollars.

Examine  —  To test the state or condition of; inspect or analyze carefully.

Excess reserves   —  Amount of reserves held by an institution in excess of its reserve requirement and required clearing balance. Also see reserves.

Exchange rate   —  The price of a country's currency in terms of another country's currency.

Exempted security  —  A security that is exempted from most provisions of the securities laws, including the margin rules. Such securities include U.S. government and agency securities, and municipal securities designated by the SEC.

Expected rate of inflation  —  The public's expectations for inflation. These expectations determine how large an effect a given policy action by the Fed will have on economic activity.