Question

How often must a financial institution pay interest to the commissioner of management and budget from a broker's interest-bearing trust account?

Answer 1

The answer is At least quarterly.

financial institution pay interest to the commissioner of management and budget from a broker's interest-bearing trust account at least quarterly.

What is a Financial institutions?

• A financial institution (FI) could be a company locked in within the business of managing with monetary and financial transactions such as stores, advances, ventures, and cash exchange.
• Financial institutions envelop a wide run of commerce operations inside the money related administrations segment counting banks, believe companies, protections companies, brokerage firms, and speculation dealers.
• Financial teach can shift by measure, scope, and geography.
• A financial institution (FI) is a company engaged in the business of dealing with financial and monetary transactions such as deposits, loans, investments, and currency exchange.

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