I'm wondering when I see chords in the form of: bIII, bVI, #v. Does that mean I am borrowing a chord from the parallel key?
I am currently thinking that "b" is only used when I am currently in a major scale and I want to borrow from a minor scale. So "bIII" would mean I borrow the third chord from minor.
And "#" is when I am currently in a minor scale and I want to borrow from a major scale. so "#v" means I am borrowing the major key's fifth chord. Does this sound right?