DipFS Unit 4 Topic 5

Designing products and services with customers’ needs in mind, rather than making maximum profits the absolute priority.

An aspect of financial exclusion – the inability to take part in the computer- based society.

The delivery of financial services at affordable cost to all sections of society, including the most disadvantaged.

Any action or project in which a company goes beyond the interests of its shareholders and senior management.

The Financial Times Stock Exchange Index, known as the ‘footsie’.

The interest rate that the Bank of England uses when it lends money to other banks.

A government-backed initiative set up to help home-hunters purchase a property with as little as a 5% deposit.

A tool used to analyse how the external environment might affect individual and corporate financial decisions.

Additional borrowing based on the difference between the value of a house and the outstanding mortgage.

When a lender does not seek to repossess a property as soon as the borrower misses a few monthly payments.

Legislation that introduced retail ring-fencing for banks and the cap on payday lenders.

European Union legislation implemented on 25 May 2018.

Reducing the amount of debt in relation to assets.

Any new bank that challenges the ‘big five’.

Ensuring all individuals and groups in society can benefit from certain rights and entitlements.

The amount by which income from sales exceeds costs.

A scheme run by a public organisation to ensure that the majority of workers are enrolled in a workplace pension.

This Act allows the regulatory authorities to resolve a financial providerthat is in difficulty.

The inability to get access to even the most basic financial services and products.

The process of making ‘dirty’ money (money gained from criminal activities) ‘clean’.

The main Act of Parliament governing the regulation of the financial services industry.

Legislation that focuses on the need for banks to have a plan in place in case they get into financial difficulty.