statutory deposit

noun

An amount of money that a bank or insurance company is legally required to keep on hand rather than investing.

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Meanings

nounstatutory deposit (plural statutory deposits)

plural statutory deposits

  1. An amount of money that a bank or insurance company is legally required to keep on hand rather than investing.

    Statutory deposit can function as a policyholders' protection fund.

    2001, OECD, Insurance Regulation and Supervision in Asia and Latin America
    2 more examples

    Of the $1.5 million, $900,000 is mandated to be a statutory deposit with this state.

    2004, Best's Key Rating Guide: Life/health, United States & Canada, page A-73

    Both bank associations govern the respective statutory deposit funds and the voluntary deposit funds, but statutory and voluntary funds are kept legally separate.

    2014, F. Arnaboldi, Deposit Guarantee Schemes: A European Perspective

Translations

Spanish depósito legal
  • depósito legalTranslations
Cite this entry
APA

statutory deposit. (n.d.). In WatkinsX Dictionary. Retrieved November 4, 2026, from https://dictionary.watkinsx.com/word/statutory%20deposit

MLA

“statutory deposit.” WatkinsX Dictionary, https://dictionary.watkinsx.com/word/statutory%20deposit. Accessed November 4, 2026.

Chicago

WatkinsX Dictionary, s.v. “statutory deposit,” accessed November 4, 2026, https://dictionary.watkinsx.com/word/statutory%20deposit.

Source: statutory deposit on Wiktionary, CC BY-SA 4.0.