statutory deposit en · NOUN
Meanings
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An amount of money that a bank or insurance company is legally required to keep on hand rather than investing.
Statutory deposit can function as a policyholders' protection fund.
2001, OECD, Insurance Regulation and Supervision in Asia and Latin America:Both bank associations govern the respective statutory deposit funds and the voluntary deposit funds, but statutory and voluntary funds are kept legally separate.
2014, F. Arnaboldi, Deposit Guarantee Schemes: A European Perspective:Of the $1.5 million, $900,000 is mandated to be a statutory deposit with this state.
2004, Best's Key Rating Guide: Life/health, United States & Canada, page A-73:
Forms
| Spelling | Features | Labels | Source |
|---|---|---|---|
| statutory deposits | Number=Plur | lexicographic |
Relateds
Translations (1)
es depósito legal (Translations)