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.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
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Alternatively, you can call us on our special deposit information line: 0700 144 88.
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The Fed, working with the Treasury Department, said both agencies believe the facility is necessary to prevent substantial disruptions to the financial markets and the economy, and will make a special deposit at the Federal Reserve Bank of New York in support of this facility.
She was a special deposit teller at Shawmut Bank in Worcester retiring in 1993.

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