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Meaning of statutory deposit | Babel Free

Noun CEFR B2

Definitions

An amount of money that a bank or insurance company is legally required to keep on hand rather than investing.

Equivalents

Español depósito legal

Examples

“Statutory deposit⟳ can function as a policyholders' protection fund.”
“Of the $1.5 million, $900,000 is mandated to be a statutory deposit⟳ with this state.”
“Both bank associations govern the respective statutory deposit⟳ funds and the voluntary deposit⟳ funds, but statutory and voluntary funds are kept legally separate⟳.”

CEFR level

B2
Upper Intermediate
This word is part of the CEFR B2 vocabulary — upper intermediate level.
See all B2 English words →

See also

statutory exclusion statutory heir statutory holiday statutory instrument statutory law statutory rape

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