P
Participating Account
P
Participating Account
A separate account at a financial institution used as a synthetic
guaranteed investment contract (GIC)
. A participating account is not subject to claims from the institution's general creditors. Also called
Bank Investment Contract (BIC)
,
Bank Deposit Agreement (BDA)
. See also Guaranteed Investment Contract (GIC), Synthetic Guaranteed Investment Contract (Synthetic GIC).
Glossary
*
P