Correspondent Account definition

Correspondent Account means an account as that term is defined in 31 CFR 1010.605(c).

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Correspondent Account means an account established to receive deposits from, make payments on behalf of a foreign financial in- stitution, or handle other financial trans- actions related to such institution.

Correspondent Account means a Clearing Participant’s / Clearing Participant’s Client’s correspondent account with the Central Bank of the Russian Federation (the “Bank of Russia”), with respect to which the Clearing House is authorized to submit requests for cash reservation and requests for discontinuance of cash reservation, receive information on cash reservations, and submit collection orders for the discharge of liabilities upon clearing of a trade, in accordance with an agreement entered into with the Clearing House for cash settlement of securities trades cleared by NSD.

Examples of Correspondent Account in a sentence

Such charge may be made against Correspondent Account or assets at any time and in such amount as Apex deems appropriate.
No delay in charging any Correspondent Account or asset shall operate as a waiver of Apex’s right to do so at any future time as and when Apex deems appropriate.
Such charge may be made against Correspondent Account or assets at any time and in such amount as Penson deems appropriate.
Seller shall credit and debit the Correspondent Account for the total debit and total credit transactions provided.
These obligations include, but are not limited to, any open and unsettled litigation matters between Correspondent or Customers and Southwest, any unresolved unsecured Correspondent Account or Customer Account debit balances, any open fails as a result of trades executed on behalf of Correspondent Accounts or Customer Accounts, and any failures to transfer to another broker any Customer Accounts introduced by Correspondent.

More Definitions of Correspondent Account

Correspondent Account means a depository account established by Seller with a financial institution designated or approved by Purchaser for the purpose of receiving or making payments and settling transactions pursuant to this Agreement.

Correspondent Account shall have the meaning set forth in Section 6.1(b).

Correspondent Account means a depository account established with a financial institution designated or approved by Elan for the purpose of receiving or making payments and settling transactions pursuant to this Agreement.

Correspondent Account means an account established for a depository institution, credit union, or foreign bank.

Correspondent Account means any account established by a respondent institution with a correspondent institution in a cross-border correspondent banking relationship where the account is used by the respondent institution for banking services for itself or its customers;

Correspondent Account means an account established by a Bank for a Foreign Correspon- dent Banking Customer to receive deposits from, or to make payments or other disburse- ments on behalf of, the Foreign Correspondent Banking Customer, or to handle other financial transactions related to such Foreign Correspon- dent Banking Customer. For purposes of this definition, the term “account” means any formal banking or business relationship established

Correspondent Account means a Clearing Participant’s correspondent account with the Central Bank of the Russian Federation (the “Bank of Russia”), with respect to which the Clearing House is authorized to submit collection orders for the execution of liabilities upon clearing of a trade, in accordance with an agreement entered into with the Clearing House for cash settlement of trades with securities cleared by NSD. Post-trade clearing settlements using a Correspondent Account shall be made subject to the provisions of article 35 of these Clearing Rules.