Banking Glossaries-M |
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MacroeconomicsLooking at the economy as a whole, particularly the interaction of its various components with one another. MicroeconomicsLooking at the individual parts of the economy, with emphasis given to the market process and how it works. Minimum monthly balanceThe least amount of money that has been in a bank account during the whole month. Monetary PolicyThe ability of the Bank of Canada to influence the economy through changes in short-term interest rates and the money supply. Money LaunderingPopular term used to describe the process whereby criminals conceal illicitly acquired funds by converting them into seemingly legitimate income. While the term refers to the proceeds of organized crime generally, it is now most often associated with financial activities of drug dealers who seek to launder the large amounts of cash generated from the sale of narcotics. Money MarketsThe part of the capital market where government Treasury bills, commercial paper, bankers' acceptances and other short-term obligations are bought and sold. Mutual FundAn investment product in which your money is pooled with the money of many other investors. A professional manager(s) uses the pooled money to buy a portfolio of investments or securities, and monitors each of the investments on an ongoing basis. There are many varieties of mutual funds, each with specific objectives. By investing in a mutual fund, you purchase units of that fund. The value of your units can go up or down depending on the type and performance of the mutual fund.
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