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Face Amount - Commonly refers to the death benefit amount in the contract. The actual amount payable may be decreased by loans or increased by additional benefits payable under specified conditions or stated in a rider.

Fair Credit Reporting Act (FCRA) - A federal law requiring, among other things, that consumer reporting agencies exercise fairness, confidentiality and accuracy in preparing and disclosing consumer credit information.

Federal Home Loan Mortgage Corporation - FHLMC (FREDDIE MAC) - A quasi-governmental corporation that purchases conventional mortgage loans in the secondary mortgage market from insured depository institutions and mortgage bankers.

Federal Funds Rate - The rate of interest paid by banks to each other for overnight loans of funds on deposit in the reserve accounts at the Federal Reserve. The rate is determined by the aggregate supply and demand for banking system reserves.

Federal National Mortgage Association - FNMA (FANNIE MAE) - A quasi-governmental corporation created by Congress to support the secondary mortgage market. It purchases and sells residential mortgage loans in the secondary mortgage market from insured depository institutions and mortgage bankers.

Fee Simple - The greatest possible interest a person can have in real estate, which includes the right to dispose of the property or pass it on to one's heirs.

Finance Charge - The cost of consumer credit as a dollar amount.

First Mortgage Loan - A loan that creates a primary lien against real property.

Fixed Annual Percentage Rate (APR) - An Annual Percentage Rate fixed for a specified term and not tied to movements of a financial index such as the prime rate.

Fixed Annuity - A type of annuity contract under which the insurance company invests the assets on behalf of the contract holder and pays a fixed rate of interest, usually guaranteed for one year.

Fixed-Rate Loan - A loan on which the interest rate is set for the life of the loan.

Flexible Premium Deferred Annuity - An annuity for which additional premium payments may be accepted prior to annuitization.

Floor - An investor's minimum interest rate.

Foreclosure - A legal procedure in which property mortgaged as security for a loan is sold to pay the defaulting borrower's debt.

Foreign Exchange - The trading of foreign currencies in relation to U.S. Funds or other foreign currencies.

Forward Pricing - The pricing of financial instruments for a value date in the future.

Futures Contract - An agreement that allows an investor to buy or sell a commodity, like gold or wheat, or a financial instrument, like a currency, at some time in future.

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M&T Bank. Investment Services, Wealth Advisory and Corporate & Institutional products and services are offered by Wilmington Trust Company,
operated in Delaware only, and Wilmington Trust, N.A. International Corporate & Institutional services are offered through our international affiliates.

 Investments: • Are NOT FDIC-Insured. • Have NO Bank Guarantee. • May Lose Value. 
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