Tenants may also want to extend the lease. In either case, a lease extension letter should be written to formally request an extension on the lease. The landlord may use this letter to raise the rent or add new terms to the lease, and the tenant may use the letter to request repairs or other considerations.
Although few depositors realize it, legally the bank owns the depositorâs funds as soon as they are put in the bank. Our money becomes the bankâs, and we become unsecured creditors holding IOUs or promises to pay.
Thanks in part to the DTC, the NYSE now can handle billions of trades per day. As an automated system, the DTC lowers costs and improves accuracy. The Depository Trust Company is owned by the Depository Trust and Clearing Company, which manages risk in the financial system. Formerly an independent entity, the DTC was consolidated with several other securities clearing companies in 1999 and became a subsidiary of the DTCC.