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Frozen Account |
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Frozen account A disciplinary action taken by the Federal Reserve Board for some violation of Regulation T, an individual investor cannot sell securities until they are paid for in full and certificates delivered.
Frozen Account A bank account that the customer may not use because of a debt that has not been paid. This means that money can neither go into nor come out of an account. A creditor is allowed to freeze an account for up to twice the amount owed if the debtor is consistently delinquent. The account remains frozen until the debt is settled or the creditor is otherwise satisfied. Generally speaking, an account holder is notified in writing that his/her account has been frozen, but this is not always the case. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Banking restrictions were eased to allow Argentines to withdraw money from frozen accounts, and bonds with bank guarantees maturing in 2013 were issued to account holders who chose to keep their funds in the bank. Congress allocated only $1 billion for new aircraft, estimated at $895 million a copy, and that funding was placed in a frozen account. |
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