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Definition of Eurocurrency deposit
A short-term fixed rate time deposit denominated in a currency other than the local
Certificates issued by a U.S. depositary bank, representing foreign
Better known as CDIC, this is an organization which insures qualifying deposits and GICs at savings institutions, mainly banks and trust companys, which belong to the CDIC for amounts up to $60,000 and for terms of up to five years. Many types of deposits are not insured, such as mortgage-backed deposits, annuities of duration of more than five years, and mutual funds.
Also called a time deposit, this is a certificate issued by a bank or thrift that
A bank deposit that cannot be withdrawn for a specified period of time. See also term deposit.
A bank deposit that can be withdrawn on demand, such as a deposit in a checking account.
Checking accounts that pay no interest and can be withdrawn upon demand.
The process whereby the banking system transforms a dollar of reserves into several dollars of money supply.
Central bank switching of government deposits between the central bank and commercial banks.
Check made out directly by a local bank to a particular firm or person.
DTC is a user-owned securities depository which accepts deposits of
The direct transfer of payroll funds from the company bank account
A system where funds are electronically credited to your account by a financial institution or a payroll service. For example, you can arrange with your employer to have your pay cheques automatically deposited into your no fee bank account.
The transfer of funds between bank accounts through the Automated
The money market for borrowing and lending currencies that are held in the form of
A federal institution that insures bank deposits.
International Depository Receipt (IDR)
A receipt issued by a bank as evidence of ownership of one or more
A book-entry depository for GNMA securities. The depository was initially operated by
Multiple Deposit Creation
The process whereby the money multiplier operates.
Negotiated certificate of deposit
A large-denomination CD, generally $1MM or more, that can be sold but
See term deposit.
pre-authorized direct deposit
A system where funds are electronically credited to your account by a financial institution or a payroll service.
Accounts that pay interest, typically at below-market interest rates, that do not have a
Security deposit (initial)
Synonymous with the term margin. A cash amount of funds that must be deposited
Security deposit (maintenance)
Related: Maintenance margin security market line (SML). A description of
An interest-earning bank deposit that cannot be withdrawn without penalty until a specific time.
Interest-bearing deposit at a savings institution that has a specific maturity.
See term deposit.
PIBOR (Paris Interbank Offer Rate)
The deposit rate on interbank transactions in the eurocurrency market
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