A depository institution is a financial institution in United States, such as a savings bank, that is legally allowed to accept monetary deposits from consumers. Federal depository institutions are regulated by the Federal Deposit Insurance Corporation (FDIC).
An example of a non-depository institution might be a mortgage bank. While licensed to lend, they cannot accept deposits.
References
- Ruben D Cohen (2004) “The Optimal Capital Structure of Depository Institutions”, Wilmott Magazine, March issue.
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