PET - Plain English Taxonomy

Attribute: BSL10910
Label: Deposits Held - Other
Concept Guidance:
This is a balancing item in the list in which it is being used.This is the value of deposits held by the reporting party as at the relevant date which are not classified as:- at call, or on demand;- term deposits;- certificates of deposits; and - retirement savings accounts.At call or on demand deposits are deposits redeemable or withdrawable by depositors from the reporting party on demand or within 24 hours.Term deposits refer to an account in which money has been placed for a fixed period of time for a stated interest rate.Certificates of deposit are negotiable bearer debt securities. They are certificates issued that indicate a specified sum of money has been deposited at the issuing depository institution. A certificate of deposit bears a maturity date and a specified interest rate. Their term to maturity vary in size, and may normally be redeemed before maturity only by sale on the secondary market, but may also be redeemed through payment of a penalty.Retirement savings accounts are approved accounts, in accordance with the Retirement Savings Accounts Act 1997, offered by banks, building societies, credit unions, life insurance companies and prescribed financial institutions (RSA providers).  They are products specifically used to accumulate retirement savings, similar to a superannuation fund. Amounts placed in these accounts cannot be withdrawn until specific criteria have been met. 
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