Depository


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Depository

The place where a deposit is placed and kept, e.g., a bank, savings and loan institution, credit union, or trust company. A place where something is deposited or stored as for safekeeping or convenience, e.g., a safety deposit box.

This term should not be confused with depositary, which is the person or institution taking responsibility for the deposit, rather than the place itself.

U. S. depositories are banks selected and designated to receive deposits of the public funds (e.g., taxes) of the United States.

References in periodicals archive ?
The Legislature expressly linked Act viability to "the confidential nature of customer accounts and safe deposits in the depository and in the confidential nature of transactions between a customer and a depository."(104) A key Act purpose protects "the confidential relationship" between depositories and customers, while balancing "a customer's right of privacy with the governmental interest in obtaining information for specific purposes and by specified procedures" authorized in the Act.(105) As indicated above, the Act generally bars depositories from including customer financial records or identity in most Department reports, and it also bars customer records disclosure during dissolution or closure.(106)
In the domestic process, the clearinghouse operator makes entries available to the receiving depository financial institution, as designated by its routing number in the NACHA format.
Woori Bank has reportedly enjoyed enormous profits for more than a century in managing the city's budgets, which are worth 32 trillion won this year, and major banks have been calling on the city government to implement a dual depository system.
In 2015, the Texas Legislature passed House Bill 483, creating a gold depository in Texas.
For depository institutions that report deposit data weekly, this maintenance period corresponds to the 14-day computation period that begins Tuesday, December 20, 2016.
It argued that having a single depository system for both bonds and equities would allow nimbleness in market management, facilitate speed in markets, enable a market to achieve same day values and enhance investors' earning capacity.
However, according to Meyer, the biggest reward has been the increased recognition the Law Library now receives, which allows it to "promote the FDLP [Federal Depository Library Program] more through our local media and through our local elected officials."
''The depository will allow Hong Kong to act as a bridge between global gold producers and markets on the mainland,'' authority Chairman Victor Fung said in the statement.
For depository institutions that report quarterly, the low reserve tranche and the reserve requirement exemption amount for 2006 will first apply to the seven-day reserve computation period that begins Tuesday, December 20, 2005, and the corresponding seven-day reserve maintenance period that begins Thursday, January 19, 2006.
REFLECTIONS: The IRS has proposed regulations that would raise the EFT payment threshold to $200,000 in aggregate Federal depository taxes, beginning on Jan.
Transfers of beneficial ownership are handled through electronic debits and credits from one depository participant to another.
Establishment of a National Academic Depository is a step towards the Digital India vision of the Honble Prime Minister Shri Narendra Modi, said the Union Minister for Human Resource Development.

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