Encyclopedia > Deposit

Article Content

Deposit

A deposit is a specific sum of money taken and held on account, by a bank as a service provided for its clients. A financial institution wishing to take deposits are generally required be under financial supervision, and to hold a banking license.

The sum of the held deposits represents an asset, which the bank in turn can use to give loans.

See also: Finance

All Wikipedia text is available under the terms of the GNU Free Documentation License

Search Encyclopedia

Search over one million articles, find something about almost anything!

Featured Article

Canadian Charter of Rights and Freedoms

... art. 18 of the European Convention limits all these specifically enumerated restrictions: The restrictions permitted under this Convention to the said rights and freedoms ...