Spell Channeling
Spell Channeling is an item property that allows Magery spells to be cast without unequipping the Right and Left Hand equipment slots. It is always accompanied by a FCR penalty of -1 (which does not count as an additional property), though this may be cancelled out if the item has a FCR bonus as well (if you don't see a penalty/bonus, then your casting rate remains the same).
For example, an item displaying spell channeling with a FCR of -1 has a single property. A spell channeling item seemingly without the penalty has at least two properties. Keep this in mind when crafting magic items.
On the other hand, some artifacts grant a FCR bonus that seems to outweigh the penalty inflicted by the spell channeling property. For example, the Arcane Shield and Boomstick grant spell channeling as well as FCR+1.
Spellbooks do not require spell channeling in order to stay equipped while casting. Wands always have this property.