English version

fiduciary in Banking topic

From Longman Business Dictionaryfiduciaryfi‧du‧ci‧a‧ry1 /fɪˈduːʃiəri-eri/ noun (plural fiduciaries)1[countable]LAW someone who is responsible for the assets of people, organizations etc and, by law, must protect their interestsWhere corporate information is revealed legitimately to a consultant working for the corporation, they may become fiduciaries of the shareholders.2[uncountable]BANKING coins and BANK NOTEs put into CIRCULATION (=made available for public use) by a bank, usually a CENTRAL BANKThe issue of banknotes is the sole function of the issue department, the notes being fiduciary backed by government securities rather than backed by gold.