bank deposit


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Bank Deposit

An amount of money held at a financial institution on behalf of an account holder for safekeeping. For example, one may keep a bank deposit in one's checking account to pay for daily expenses instead of hiding one's money "under the mattress." Most bank deposits are insured by organizations like the FDIC to reduce their risk.

bank deposit

a sum of money held on deposit with a COMMERCIAL BANK (or SAVINGS BANK). Bank deposits are of two main types: sight deposits (CURRENT ACCOUNTS), which are withdrawable on demand; time deposits (DEPOSIT ACCOUNTS), which are withdrawable subject usually to some notice being given. Sight deposits represent instant LIQUIDITY: they are used to finance day-to-day transactions and regular payments either in the form of a CURRENCY withdrawal or a CHEQUE transfer. Time deposits are usually held for longer periods of time to meet irregular payments and as a form of savings.

Bank deposits constitute an important component of the MONEY SUPPLY. See BANK DEPOSIT CREATION, MONETARY POLICY.

References in periodicals archive ?
It obliges Bulgarians to include the income on bank deposits in their tax declarations a year later a in 2014 a after the taxation process is streamlined.
With the procedures sufficiently defined and delineated, accountability or responsibility can be easily pinpointed in case something goes wrong in the inspection of a bank deposit.
Deposit insurance compensation for JSC EUROSIB BANK deposits can be received at any designated Sberbank branch.
Hampartzoumian vehemently rejected the government's argument the new levy will force richer people with huge bank deposits to pay tax on that income, hinting the move is pure pre-election gambit.
The government said the new tax aims to raise BGN 120 M and force richer people to pay taxes on the income they earn from bank deposits.
Global Banking News-February 19, 2015--Bulgarian parliament intent on speeding up guaranteed bank deposits pay-out
-- Moody's Investors Service has today downgraded the long-term bank deposit ratings of Nanyang Commercial Bank, Ltd.
Global Banking News-November 28, 2014--China said to be close to launching bank deposit insurance
has upgraded the long-term bank deposit ratings of Suruga Bank, Ltd.
Summary: Bank deposit growth in Egypt slowed to 11.46% in Apr (Mar: 11.85%), with households accounting for 79.5% of total bank deposits till end-Apr.Ee
Mongolia's long-term local currency bond and bank deposit ceilings are unchanged at Ba3.
The Chinese Cornerstone of Modern Banking: The Canton Guaranty System and the Origins of Bank Deposit Insurance 1780-1933