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Nonpersonal Time Deposit

 
Banking Dictionary: Nonpersonal Time Deposit

Time deposits, including money market deposit accounts, held by a depositor other than an individual. Nonpersonal time deposits include term savings accounts owned by corporations, deposits representing the proceeds of a promissory note or banker's acceptance, deposits owned by Edge Act Corporations and Agreement Corporations, and deposits owned by foreign banks. These deposits may be subject to Reserve Requirements under Federal Reserve Regulation D.

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Banking Dictionary. Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved.  Read more