Time Deposit Open Account

From Open Risk Manual

Definition

Time Deposit Open Account. A time deposit account that allows deposits (other than time certificates of deposit) for which there is in force a written contract with the depositor that neither the whole nor any part of such deposit may be withdrawn prior to (1) the date of maturity which shall be not less than seven days after the date of the deposit, or (2) the expiration of a specified period of written notice of not less than seven days.


See Also


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This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.