Back Custom print Link Text Only Rich Text Print

  • [ S ]

    • Safeguarding financial instruments

      Safeguarding financial instruments means the safeguarding and administration of financial instruments belonging to another person (see LR-1.3.29 ff).

    • Secured Obligations

      Obligations that are secured by legal rights on specifically designated assets owned by the bank which are used in the case of bankruptcy, insolvency or liquidation.

      Added: October 2018

    • Securitised assets

      Creating a financial product such as a mortgage pass-through security, by pooling assets to back the instrument. Also refers to the replacement of loans and/or cash flows of financial intermediaries with negotiable securities issued in the capital markets.

    • Security(ies) (as referred to in Chapter BC-7 and in the definition of market)

      "Securities" means shares or bonds issued by shareholding companies, government debt instruments and the following financial instruments:

      (a) Shares in companies and other securities equivalent to shares in companies or other entities, and depositary receipts in respect of shares;
      (b) Bonds or other forms of debt, including depositary receipts in respect of such securities;
      (c) Warrants;
      (d) Units, rights or interests (however described) of the participants in a collective investment scheme;
      (e) Options, futures and any other derivative contracts relating to commodities that must be settled in cash or may be settled in cash at the option of one of the parties (otherwise than by reason of a default or other termination event);
      (f) Options, futures and any other derivative contract relating to commodities that can be physically settled;
      (g) Units to Real Estate Investment Trusts (REITs);
      (h) Index tracking products including Islamic indices;
      (i) Any other financial instrument approved as a financial instrument by the CBB for the purpose of trading such instrument on an exchange; and
      (j) Islamic securities, being those financial instruments that are Shari'a compliant.
      Amended: January 2011

    • Securities Financing Transactions (SFTs)

      Transactions such as repurchase agreements, reverse repurchase agreements, security lending and borrowing, and margin lending transactions, where the value of the transactions depends on market valuations and the transactions are often subject to margin agreements.

      Added: January 2015

    • Self-Regulatory Organisation(s) or (SROs)

      "Self-Regulatory Organizations (SROs)" means any organisation licensed by the CBB under Volume 6 of the Markets and Exchanges (MAE) Module, or the Clearing, Settlement and Central Depository (CSD) Module, or any other organisation recognised as an SRO by the CBB.

      Added: January 2011

    • Senior Manager/Management

      Refers to individuals occupying the position of CEO or head of function.

    • Service level agreement

      An agreement forming part of the Outsourcing Agreement between the outsourcing service provider and the bank that outlines the standards of service to be provided by the outsourcing service provider.

    • Shareholders

      a) In relation to a share which is represented by a bearer certificate, the person who holds the certificate; b) in relation to a share that is not represented by a bearer certificate, the person whose name is entered on the register in relation to the share.

    • Shares

      A share or stock in the share capital of an enterprise, whether incorporated or unincorporated, but excluding units in collective investment undertakings.

    • Shari'a board or shari'a supervisory board

      An independent body of specialized jurists who, collectively, are entrusted with the duty of directing, reviewing and supervising the activities of an Islamic financial institution in order to ensure that they are in compliance with Islamic Shari'a rules and principles.

    • Small Business Deposits

      Deposits that are considered as having similar characteristics to retail accounts, provided the total aggregated funding raised from one small business customer is less than BHD 500,000 (on a consolidated basis where applicable).

      Added: October 2018

    • Soft dollar agreement (as referred to in Chapter BC-8)

      An agreement in any form under which a conventional bank licensee receives goods or services in return for investment business put through or in the way of another person.

      Added: January 2011

    • Sovereign debt

      A debt instrument issued by central government.

    • Spot transactions

      A foreign exchange transaction in which each party promises to settle the transaction two days after the transaction date.

    • Stable Deposits

      Amounts of the deposits that are fully insured by a deposit insurance scheme which represents a portion from the deposits in the transactional accounts (e.g. accounts where salaries are automatically deposited), as per the provisions of those regulations.

      Added: October 2018

    • Subsidiary(ies)

      An entity, including an unincorporated entity such as a partnership, that is controlled by another entity (known as the parent entity).

      Amended: April 2015
      Added: January 2015

    • Subsidiary undertaking

      A company or other enterprise controlled by another company or enterprise (the parent or the holding company).

    • Succession plan

      A plan developed by a bank that would lay down the bank's strategy with respect to succession of various senior management or board positions within the bank.

    • Suspicious Transaction

      Any transaction or dealing which raises in the mind of a person involved, any concerns or indicators that such a transaction or dealing may be related to money laundering or terrorist financing or other unlawful activity. Examples of suspicious transactions are set out in Appendix FC 3.

    • Swap(s)

      A financial contractual agreement between two parties to exchange (swap) a set of payments that one party owns for a set of payments owned by the other party.

      Amended: January 2011