depository bond

Definition of "depository bond"
  1. It's a protection measure that a bank provides, often for government or municipal deposits, which ensures the return of the deposit amount should the bank become insolvent
How to use "depository bond" in a sentence
  1. After the financial crisis, we opted for a bank that provided a depository bond.
  2. In order to reassure their clients, the bank decided to offer a depository bond over the deposits.
  3. The municipal government preferred banks with a depository bond to secure their funds.

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