31 Paul T. Clark, Merely Passage By way of: A history and Critical Studies away from FDIC Insurance out-of Places Stored because of the Brokers or other Custodians, thirty two REV. Financial & FIN. L. 99, 117 (2012). The new Federal Put Insurance rates Work and you can FDIC statutes explain a deposit as follows:
[T]he unpaid equilibrium of money or its comparable gotten otherwise held by a lender . . . regarding common span of providers as well as which it keeps given or is forced to provide credit, sometimes conditionally or for any reason, so you’re able to a professional, checking, deals, date, otherwise thrift membership, or that’s confirmed by the their certificate from deposit, thrift certificate, investment certificate, certification regarding indebtedness, or any other similar identity, or a otherwise draft removed up against in initial deposit membership and you can official because of the bank . . . otherwise a page regarding credit otherwise good traveler’s check into which the lending company . . . is especially liable.
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