deposit-taking institution

deposit-taking institution
An institution whose main function is to take deposits. This is the basis of the legal definition of a bank as laid down in the Banking Acts (1979; 1987). In the UK regulation of deposit-taking institutions was transferred from the Bank of England to the Financial Services Authority in 2001. See also financial institution; licensed deposit taker

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  • deposit-taking institution — /dɪˌpɒzɪt ˌteɪkɪŋ ˌɪnstɪ tju:ʃ(ə)n/, depository institution /dɪˌpɒzɪt(ə)ri ˌɪnstɪ tju:ʃ(ə)n/ noun an institution such as a building society, bank or friendly society, which is licensed to receive money on deposit from private individuals and to… …   Dictionary of banking and finance

  • Authorised Deposit-Taking Institution — In Australia, Authorised Deposit Taking Institutions (ADIs) are corporations which are authorised under the Banking Act of 1959 to take deposits from customers.ADIs include banks, building societies and credit unions. All ADIs are subject to the… …   Wikipedia

  • deposit-taking — deˈposit ˌtaking adjective [only before a noun] BANKING a deposit taking financial institution is one into which people can pay money so that it can be held there and earn interest: • The Bank of England earlier had refused to upgrade BCCI s… …   Financial and business terms

  • Deposit insurance — Experiences from bank runs during the Great Depression led to the introduction of deposit insurance in the US …   Wikipedia

  • licensed deposit-taker — /ˌlaɪs(ə)nst dɪ pɒzɪt ˌteɪkə/, licensed institution /ˌlaɪs(ə)nst ˌɪnstɪ tju:ʃ(ə)n/ noun a deposit taking institution, such as a building society, bank or friendly society, which is licensed to receive money on deposit from private individuals and …   Dictionary of banking and finance

  • financial institution — Any organization whose core activity is to provide financial services or advice in relation to financial products. Financial institutions include state bodies, such as central banks, and private companies, such as banks, building societies, and… …   Accounting dictionary

  • financial institution — An organization whose core activity is to provide financial services or advice in relation to financial products. Financial institutions include state bodies, such as central banks, and private companies, such as banks, savings and loan… …   Big dictionary of business and management

  • Royal Belfast Academical Institution — Infobox Secondary school name =Royal Belfast Academical Institution native name = motto = Quaerere Verum (To seek the Truth) established =1810 address = College Square EastBT1 6DL city =Belfast state =Northern Ireland country =United Kingdom… …   Wikipedia

  • Bond (finance) — In finance, a bond is a debt security, in which the authorized issuer owes the holders a debt and, depending on the terms of the bond, is obliged to pay interest (the coupon) to use and/or to repay the principal at a later date, termed maturity.… …   Wikipedia

  • Chinese financial system — Beijing Financial Street, the economic centre of Beijing. China s financial system is highly regulated and has recently begun to expand rapidly as monetary policy becomes integral to its overall economic policy. As a result, banks are becoming… …   Wikipedia

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