CORRESPONDENT BANK Definition

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CORRESPONDENT BANK is a bank having communications and business links with the sellers bank.

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BDI see BASIC DEFENSE INTERVAL.

MATURITY VALUE, in securities, is the amount that will be received at the time a security is redeemed at its maturity. For most securities, maturity value equals par value; in insurance, it is the amount payable under a whole life insurance policy if the insured person lives to the last age on the mortality table on which the values of the contract were based.

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