Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Depository Trust Corporation
The principal central clearing agency for securities transactions on the public markets. - Abbr. DTC.
american depository receipt.
a receipt issued by an american bank as a substitute for stock shares in a foreign-based corporation. ( adrs are the most common method by which foreign companies secure american shareholders. companies that offer adrs maintain a stock listing in their domestic market in their domestic currency, while the adrs are held in u.s. dollars and listed on a u.s. stock exchange, usu. the new york stock exchange. - abbr. adr. -also termed american depositary receipt.
depository
n. A place where one leaves money or valuables for safekeeping <the grade school's depository for used books>. Cf DEPOSITARY.
depository bond
See BOND (2).
depository bond.
A bond given by a bank to protect a public body's deposits should the bank become insolvent.
depository institution
1. An organization formed under state or federal law, authorized by law to receive deposits, and supervised and examined by a government agency for the protection of depositors. 2. A trust company or other institution authorized by law to exercise fiduciary powers similar to those of a national bank. 0 The term does not include an insurance company, a Morris Plan bank, an industrial loan company, or similar bank unless its deposits are insured by a federal agency.
depository-transfer check
An unsigned nonnegotiable check that is used by a bank to transfer funds from its branch to the collection bank