Early Repayment Charge and SWIFT: Difference between pages

Revision as of 11:26, 13 March 2017

Society for Worldwide Interbank Financial Telecommunications.

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-''Banking - mortgage lending''
+Society for Worldwide Interbank Financial Telecommunications.
-(ERC).
-A charge levied on customers who wish to repay a fixed rate mortgage loan, or certain other mortgage loans, early.
+== See also ==
+* [[ISO currency codes]]
+* [[AUD]]
+* [[Business identifier code]]
+* [[CAD]]
+* [[Category 3 messages]]
+* [[EUR]]
+* [[GBP]]
+* [[HKD]]
+* [[JPY]]
+* [[Member-administered closed user group]]
+* [[MT940]]
+* [[Society for Worldwide Interbank Financial Telecommunications]]
+* [[Standardised corporate environment]]
+* [[SWIFTNet]]
+* [[Treasury counterparty]]
+* [[USD]]
+* [[CertICM]]
-Sometimes known as an Early ''Redemption'' Charge.
+===Other links===
+[http://www.treasurers.org/node/5006 Bank connectivity with SWIFT, Will Spinney, ACT 2009]
-The amounts of ERCs which lenders can recover from customers in practice may be less than the full amounts in the loan agreements or the break costs to the lender, on the basis that retail customers cannot reasonably be expected to understand them, and - to that extent - are not necessarily legally enforceable in full.
+[[Media:Apr15TTtreasuryinsider17.pdf| Implementing SWIFT, The Treasurer, April 2015]]
+[[Category:Cash_management]]
-== See also ==
-* [[Interest rate risk]]
-* [[Mortgage]]
-* [[Option risk]]
-* [[Pipeline risk]]
-* [[Prepayment]]
-* [[Prepayment risk]]