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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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