Depository bank (Check 21)
nounid
2288·updated May 12, 2026candidate
Also known as Bank of First Deposit (BOFD). The first bank to which a check is transferred even though it is also the paying bank or the payee. A check deposited in an account is deemed to be transferred to the financial institution holding the account into which the check is deposited, even though the check is physically received and endorsed first by another financial institution.
MWE
Classifications
Entity Type
Organization0%rule-basedmulti_axis_classifier_low_confidence.v1
Sensitivity
Regulated90%llm-generatedllm:claude-haiku-4-5
Information Class
Pci70%llm-generatedllm:claude-haiku-4-5
Variants
- plural
- Depository bank (Check 21)s
- possessive
- Depository bank (Check 21)'s
- pluralpossessive
- Depository bank (Check 21)s'
Framework definitions
Federal Financial Institutions Examination Council (FFIEC) IT Examination Handbook Infobase, Glossary1 senseview framework →
- §1
- Also known as Bank of First Deposit (BOFD). The first bank to which a check is transferred even though it is also the paying bank or the payee. A check deposited in an account is deemed to be transferred to the financial institution holding the account into which the check is deposited, even though the check is physically received and endorsed first by another financial institution.
Outgoing relationships
No outgoing triples
This term is not the subject of any RDF-style relationship yet.
Incoming relationships
No incoming triples
No other term currently asserts a relationship to this one.