Good faith deposit


 

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Good faith deposit

Used in the context of commodities. Refers to the initial margin account deposit needed when buying or selling a futures contract; approximately 2%-10% of the contract value. Used in the context of securities to describe the deposit required by securities firms engaged in transactions on behalf of a new client. Also used to refer to the deposit with a municipal bond issuer by firms competing for the underwriting business.



Good faith deposit

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Device enabling an issuer to circumvent an arbitrary corporate limit on the number of preferred shares issuable. Applies mainly to convertible securities.


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A short-term fixed-rate time deposit denominated in a currency other than the local currency (i.e., US dollars deposited in a London bank).


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