Final answer:
Commingling is the term for depositing client's funds into a broker's personal or business account, which is illegal and against financial regulations.
Step-by-step explanation:
The term used to describe the depositing of a client's funds into the broker's personal or business account is known as commingling. This practice is illegal and unethical, as brokers are required to keep client funds separate from their personal and business accounts.
Banks view deposits, such as those in a checking account, savings account, or a certificate of deposit (CD), as liabilities because they owe these deposits back to their customers upon request. For instance, Safe and Secure Bank holds $10 million in deposits as liabilities.
Savings deposited in the form of CDs usually offer higher interest rates with the trade-off of keeping the money in the account for a fixed period, subject to a penalty for early withdrawal.