Global Financial Development Report 2017 / 2018:
Bankers without Borders

Abbreviations and Glossary


AML/CFTanti-money laundering and combating the financing of terrorism
BCBSBasel Committee on Banking Supervision
BISBank for International Settlements
Consolidated Banking Statistics, BIS
CGFS Committee on the Global Financial Systems
East Asia and Pacific
European Bank for Reconstruction and Development
ECAEurope and Central Asia
EUEuropean Union
foreign direct investment
IFinancial Stability Board
Group of 20
G-SIBglobal systematically important bank
ICimmediate counterparty
IFCInternational Finance Corporation
IMFInternational Monetary Fund
LACLatin America and the Caribbean
LBSLocational Banking Statistics, BIS
M&Amergers and acquisitions
MENAMiddle East and North Africa
NPLnonperforming loan
OECDOrganisation for Economic Co-operation and Development
ROAreturn on assets
SAR South Asia
SMEsmall and medium enterprise
SRMSingle Resolution Mechanism
SSASub-Saharan Africa
SSMSingle Supervisory Mechanism
TLACtotal loss absorbing capacity
URultimate risk
WTOWorld Trade Organization
Note: All dollar amounts are U.S. dollars ($) unless otherwise indicated.


Countryprovided internationally on a separate and independent basis (not necessarily a state as understood by international law and practice). The term, used interchangeably with economy, does not imply political independence or official recognition by the World Bank.
Domestic bank A bank restricted to the home country operations, neither owning foreign subsidiaries nor being owned by any foreign banking entity.
Financial development Conceptually, a process of reducing the costs of acquiring information, enforcing contracts, and making transactions.
Financial system A country’s financial institutions (banks, insurance companies, and other nonbank financial institutions) and financial markets (such as those in stocks, bonds, and financial derivatives). Also includes the financial infrastructure (for example, credit information–sharing systems and payments and settlement systems).
Global bank Conceptually, a bank with significant asset size and an international reach of business. Although there is no single standard definition, in this concept note global bank refers to a large international bank with activities in multiple regions.
Institutional investors Public and private pension funds, life insurance companies, non–life insurance companies, and mutual funds.
International bank A bank with significant cross-border operations or international subsidiaries.
Nonbank financial institutionsInstitutional investors and other nonbank financial intermediaries (such as leasing companies and investment banks).
Offshore financial centerA country or jurisdiction providing financial services to nonresidents beyond a scale commensurate with the size and financing of the domestic economy.
Regional bankA bank owning foreign subsidiaries with a focus on a specific host region or set of countries.