Special deposit


Also found in: Dictionary, Financial.

SPECIAL DEPOSIT. A deposit made of a particular thing with the depositary: it is distinguished from an irregular deposit.
     2. When a thing has been specially deposited with a depositary, the title to it remains with the depositor, and if it should be lost, the loss will fall upon him. When, on the contrary, the deposit is irregular, as where money is deposited in a bank, the title to which is transferred to the bank, if it be, lost, the loss will be borne by the bank. This will result from the same principle; the loss will fall, in both instances, on the owner of the thing, according to the rule res perit domino. See 1 Bouv. Inst. n. 1 054.

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He said the bank offered special deposit schemes for NRIs and also could book forward contracts for clients who wanted to hedge balances in rupee deposits.
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Under the new arrangements banks are required to employ their own funds and the refinance proceeds are held back by the State Bank of Pakistan in a special deposit account and on these deposits, remuneration at the last auction of weighted average rate of TBs is paid to the banks.
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The rate that the bank pays lenders for overnight deposits is at 4 percent, and the rate for special deposit accounts remains at 2.

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