What is another word for depository financial institution?

6 synonyms found


[ dɪpˈɒsɪtəɹˌi fa͡ɪnˈanʃə͡l ˌɪnstɪtjˈuːʃən], [ dɪpˈɒsɪtəɹˌi fa‍ɪnˈanʃə‍l ˌɪnstɪtjˈuːʃən], [ d_ɪ_p_ˈɒ_s_ɪ_t_ə_ɹ_ˌi f_aɪ_n_ˈa_n_ʃ_əl ˌɪ_n_s_t_ɪ_t_j_ˈuː_ʃ_ə_n]

Depository financial institution is a term used to describe any financial entity that accepts deposits from customers. While this term is common in the financial industry, there are several synonyms that are often used interchangeably. For example, a bank is a common synonym for depository financial institution, as it is an entity that accepts deposits and offers a range of financial services. Credit unions are also a type of depository financial institution that operates similarly to banks. Other synonyms for depository financial institution include thrifts, savings institutions, and building societies. Regardless of the terminology used, all depository financial institutions are responsible for managing customer deposits and providing a range of financial services to their clients.

Synonyms for Depository financial institution:

How to use "Depository financial institution" in context?

Depository financial institutions are usually banks or other financial institutions that hold the securities of issuers other than the bank itself. This may be done either on the firm's own account or on behalf of the bank's customers. The securities are usually deposited with the depository institution, which is then responsible for making them available to the public.

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