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Definition Edit

A depository (also depository institution) is

[a]n institution that holds funds or marketable securities for safekeeping. Depositories may be privately or publicly operated and allow securities transfers through book-entry and offer funds accounts permitting funds transfers as a means of payment.[1]

References Edit

  1. FFIEC IT Examination Handbook, Retail Payment Systems, Appendix B: Glossary (full-text).

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