LeoGlossary: Interbank Deposits

How to get a Hive Account

An arrangement between two banks one holds money in an account for another. The holding bank must open a due account or a General Ledger account containing funds payable to a third party.

The bank that holds the due account is called a holding account. In these transactions, one financial institution lends money to another institution for a short period in exchange for interest payments. These accounts are typically liquid and accessible by the depositor and the receiving bank on regular business days..

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