frozen account

Frozen account

A disciplinary action taken by the Federal Reserve Board for some violation of Regulation T, where an individual investor cannot sell securities until they are paid for in full and certificates delivered.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

frozen account

A brokerage account in which a customer must pay in full before securities are bought and must deliver certificates before securities are sold. An account is frozen when a customer fails to maintain the proper margin required by Regulation T. Compare freeriding.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
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The company has, however, not disclosed how much money is held in the frozen account.The firm asserts that ARA's application at the Anti-Corruption Court, which resulted in the order being granted, was based on speculation and misappropriation of readily explainable transactions conducted in the regular course of Fast Service Solutions' business.
Adjourning the hearing till July 27, Judge Asghar Khan ordered the FIA to present an explanation on how transactions were taking place from a frozen account.
ISLAMABAD -- The joint opposition in Wednesday's National Assembly session raised concerns over not removing the name of PPP Chairman Bilawal Bhutto Zardari from ECL, drought-like situation in Balochistan, transaction in frozen account of Pervez Musharraf and low price of potato in the market.
She requested court to allow her using funds from the frozen account.
The mayor Metodi Chimev assured that the frozen account would not affect schools and kindergartens, as well as the forthcoming Christmas celebrations in the town.
Youkhana said in a press statement : " Turkey's policy toward Iraq is floundered, and it searches for its interests and do not care about the interests of others , adding that the timing of the Turkish mediation is not very suitable , especially it comes in the midst of the convergence between Baghdad and Ankara ." He added: "The solution to the problem between Baghdad and Erbil cannot be reached only through the enactment of the oil and gas." The Turkish government has proposed, through its Energy Minister, Taner Yildiz to put oil revenues in the region of Kurdistan in a frozen account in a Turkish bank that Baghdad and Erbil decide how to share these revenues.
EU sanctions against Iranian companies, including the IOC, are still in place, and the British government said the IOC's revenue from gas sales at Rhum will be placed into a frozen account.
Global Banking News-August 6, 2013--Syria to tap frozen account to fund food purchases(C)2013 ENPublishing -
Banks in the Gaza Strip closed their doors yesterday to protest the Hamas police raid of one branch and the confiscation of NIS 1 million from a frozen account. On Monday, Hamas armed security personnel entered the branch of the Palestine Bank located in the Gaza City neighborhood of Rimal, demanding that the funds from the frozen account be produced.
Nass's precarious funding position, which has been addressed over the last 12 months, has been further improved by the British Horseracing Authority board's recent decision to release pounds 100,000 from a frozen account.
Centro's cash flow requirements can continue to be managed satisfactorily despite this frozen account."