Depository institution

Definition:

A financial institution that obtains its funds mainly through deposits from the public. This includes commercial banks, savings and loan associations, savings banks and credit unions.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

First preferred stock

A type of preferred stock that has priority over other preferred issues and common stock when claiming dividends and assets.

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