8 cfr 204.2
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8 cfr 204.2

Date:20 January 2017 | Author: Admin
8 cfr 204.2

The relevant Federal Reserve Banks are the Federal Reserve Bank whose District contains the location specified in paragraph g of this section and the Federal Reserve Bank in whose District the institution is proposed to be located. The Board shall transmit promptly to the Congress a report stating the basis for exercising its authority to require a supplemental reserve under this section. An IBF shall provide written notice to each of its customers other than those specified in aiB and ai through v at the time a deposit relationship or a credit relationship is first established that it is the policy of the Board of Governors of the Federal Reserve System that deposits received by international banking facilities may be used only to support the depositors operations outside the United States as specified in aiiB and that extensions of credit by IBFs may be used only to finance operations outside of the United States as specified in avi. BAny office located outside the United States of a foreign bankiiiA United States or a nonUnited States office of the institution establishing the IBFSection redesignated as at Fed

Codified to . viDealer reserve and differential accounts that arise from the financing of dealer installment accounts receivable and which provide that the dealer may not have access to the funds in the account until the installment loans are repaid as long as the depository institution is not actually as distinguished from contingently obligated to make credit or funds available to the dealerFor purposes of this part the following definitions apply unless otherwise specified An office located in the United States of another depository institution foreign bank Edge or Agreement corporation or New York Investment Article XII CompanyAIs subject to check draft negotiable order of withdrawal share draft or similar item such as an account authorized by USC a NOW Account and a savings deposit described in d provided that the depositor is eligible to hold a NOW account ore Computation of transaction accounts. and May effective July Fed. All deposits other than time and savings accounts including those accounts that are time and savings deposits in form but that the Board has determined by rule or order to be transaction accounts. Cash item in process of collection does not include items handled as noncash collections and credit card sales slips and drafts. May effective July Online tool that helps how the insurance rules and limits apply to a depositors specific group of deposit accountsmdashwhats insured and what portion if any exceeds coverage limits at that bank. DArises from a borrowing by a depository institution from a dealer in securities for one business day of proceeds of a transfer of deposit credit in a Federal Reserve bank or other immediately available funds commonly referred to as federal funds received by such dealer on the date of the loan in connection with clearance of securities transactions ore Transaction account means a deposit or account from which the depositor or account holder is permitted to make transfers or withdrawals by negotiable or transferable instrument payment order of withdrawal telephone transfer or other similar device for the purpose of making payments or transfers to third persons or others or from which the depositor may make third party payments at an automated teller machine ATM or a remote service unit or other electronic device including by debit card but the term does not include savings deposits or accounts described in paragraph d of this section even though such accounts permit third party transfers

At present there are no supplemental reserve requirements imposed under this section. andBThe depository institution claiming the currency and coin as vault cash at all times books the currency and coin held at the alternate physical location as an asset of the depository institutionThe secure Internet channel for FDICinsured institutions to conduct business and exchange information with the FDIC. The amount of the reserve requirement exemption allocated to an office or group of offices may not exceed the amount of the low reserve tranche allocated to such office or offices. Reg. December effective December Fed. If the low reserve tranche or reserve requirement exemption cannot be fully utilized by a single office or by a group of offices filing a single report of deposits the unused portion of the tranche or exemption may be assigned to other offices or groups of offices of the same institution until the amount of the tranche or net transaction accounts or exemption or reservable liabilities is exhausted. CA foreign national government or an agency or instrumentality thereof engaged principally in activities which are ordinarily performed in the United States by governmental entitiesn Member bank means a depository institution that is a member of the Federal Reserve System. gFor purposes of this section a depository institution a. Balances maintained to satisfy reserve balance requirements of a correspondents respondents shall be maintained along with the balances maintained to satisfy a correspondents reserve balance requirement if any in a single commingled account of the correspondent at the Federal Reserve Bank in whose District the correspondent is located. branch or agency of a foreign bank and an Edge or Agreement corporation shall satisfy reserve requirements by maintaining vault cash and if vault cash does not fully satisfy the institutions reserve requirement in the form of a balance maintainedy Eligible institution meansc Time deposit meansiiMoney received or held by a depository institution or the credit given for money or its equivalent received or held by the depository institution in the usual course of business for a special or specific purpose regardless of the legal relationships established thereby including escrow funds funds held as security for securities loaned by the depository institution funds deposited as advance payment on subscriptions to United States government securities and funds held to meet its acceptancesCFood coupons and certificatesiA deposit that the depositor does not have a right and is not permitted to make withdrawals from within six days after the date of deposit unless the deposit is subject to an early withdrawal penalty of at least seven days simple interest on amounts withdrawn within the first six days after deposit. June effective December amended at Fed. Reg


The rates for IORR and IOER are Nonpersonal time deposit does not include nontransferable time deposits to the credit of or in which the entire beneficial interest is held by an individual pursuant to 8's multiplication song an individual retirement account or Keogh. viiiAn obligation representing a pass through account as defined in this sectionaEvery depository institution. CThat is maintained under an agreement or arrangement under which no deposit or withdrawal of less than is permitted except 9 v 9 football pitch dimensions that a withdrawal of less than is permitted if such withdrawal closes an account. Reg. June effective December amended at Fed. andBThe depository institution claiming the currency and coin as vault cash at all times books the currency and coin held at the alternate physical location 95.5 klos heidi and frank as an asset of the depository institutionThe secure Internet channel for FDICinsured institutions to conduct business and exchange information with the FDIC. If a supplemental reserve requirement has been imposed for a period of one year or more the Board shall review and determine the need for continued maintenance of supplemental reserves and shall transmit annual reports to the Congress regarding the need for continuing such requirement. A Federal Reserve Bank may accept term deposits from eligible institutions under the provisions of this paragraph e subject to such terms and conditions as the Board may establish from time to time including but not limited to conditions regarding the maturity of the term deposits being offered maximum and minimum amounts that may be maintained by an eligible institution in a term deposit the interest rate or rates offered early withdrawal of term deposits pledging term deposits as collateral and if term deposits are offered through an auction mechanism the size of the offering maximum and minimum bid amounts and other relevant terms. The term savings deposit includes a regular share account at a credit union and a regular account at a savings and loan association. Reg. An institution that is subject to the reserve requirements of this part is not required to maintain reserves against its IBF time deposits or IBF loans. iNet balances due to its nonUnited States offices and its international banking facilities IBFs from its United States officesBMatured bonds and coupons including bonds and coupons that have been called and are payable on presentationDeposits or accounts on which the depository institution has reserved the right to require at least seven days written notice prior a beautiful mess gomi to withdrawal or transfer of any funds in the account and from which withdrawals may be made automatically through payment to the depository institution itself or through transfer or credit to a demand deposit or 8103 clearvista pkwy indianapolis in 46256 other account in order to cover checks or drafts drawn upon the institution or to maintain a specified balance in or to make periodic transfers to such accounts except accounts described in paragraph d of this section but including accounts authorized by


BThat is issued toiiGovernment checks drawn on the Treasury of the United States that are in the process of collection andBFrom which the depositor is authorized to make transfers by preauthorized transfer or telephonic including data transmission agreement order or instruction to another account or to a third party provided that the depositor is eligible to 81301 zip code hold a NOW accountbUnited States branches and agencies of a foreign bank may not deduct balances due from another United States branch or agency of the same foreign bank and United States offices of an Edge or Agreement Corporation may not deduct balances due from another United States office of the same Edge or Agreement Corporation. iiAn obligation that represents a conditional contingent or endorsers liabilityInterest on balances of eligible institutions maintained in an excess balance account is the amount equal to the IOER rate in effect each day multiplied by the total balances maintained on that day for each day of the maintenance period. A preauthorized transfer includes any arrangement by the depository a serbian film soundtrack institution to pay a third party from the account of a depositor upon written or oral instruction including an order received through an automated clearing house ACH or any arrangement by a depository institution to pay a third party from the account of the depositor at a predetermined time or on a fixed schedule. Eligible passthrough correspondents are Federal Home Loan Banks the National Credit Union Administration Central Liquidity Facility and depository institutions. Reg. Reg


December effective December Fed. March effective July Fed. March effective April Fed. April effective July Fed. Time deposit includes fundsbA foreign banks



GFor purposes of this section a depository institution a. An obligation issued for the purpose of raising funds 750ml patron silver to purchase business premises equipment supplies or 97.5 el paso similar assets is not a depositcFor purposes of this part the obligations of a majorityowned percent or more. The depository institution shall provide copies of the written cash delivery plan and written contractual arrangements to the Federal Reserve Bank that holds its account or to the Board upon request. d Establishment of an international banking facility. Reg. c Passthrough balances. Reg. o Foreign bank means any bank or other similar institution organized under the laws of any country other than the United States or organized under the laws of Puerto Rico Guam American Samoa the Virgin Islands or other territory or possession of the United States. q Affiliate includes any corporation association or other organizationiA time deposit including an MMDA or any other savings deposit representing funds in which any beneficial interest is held by a depositor which is not a natural personThe term savings deposit also means A deposit or account such as an account commonly known as a passbook savings account a statement savings account or as a money market deposit account MMDA that otherwise meets the requirements of d and from which under the terms of the deposit contract or by practice of the depository institution the depositor is permitted or authorized to make no more than six transfers and withdrawals or a combination of such transfers and withdrawals per calendar month or statement cycle or similar period of at least four weeks to another account including a transaction account of the depositor at the same institution or to a 7795 west flagler street third party by means of a preauthorized 92.5 the river boston or automatic transfer or telephonic including data transmission agreement order or instruction or by check draft debit card or similar order made by the depositor and payable to third parties. The relevant Federal Reserve Banks are the Federal Reserve Bank whose District contains the location specified in paragraph g of this section and the Federal Reserve Bank in whose District the institution is proposed to be located


8 cfr 204.2

IChecking accounts A United States office or a nonUnited States office of the entity establishing the IBFt Any deposit that is payable only at an office located outside the United States means a deposit of a United States resident 920-002836 that is a denomination of or more and as to which the depositor is entitled under the 8900 wilshire blvd beverly hills ca agreement with the institution to demand payment only outside the United States or a deposit of a person who is not a United States resident as to which the depositor is entitled under the agreement with the institution to demand payment only outside the United States. January effective January Fed. b Demand deposit means a deposit that is payable on demand or a deposit issued with an original maturity or required notice period of less than seven days or a deposit representing funds for which the depository institution does not reserve the right to require at least seven days written notice of an 99 names of allah printable sheet intended withdrawal. A charge for any deficiency in the correspondents account will be imposed by the Reserve Bank on the correspondent maintaining the account. CThat is maintained under an agreement or arrangement under which no deposit or withdrawal of less than is permitted except that a withdrawal of less than is permitted if such withdrawal closes an account. xiShares of a credit union held by the National Credit Union Administration or the National Credit Union Administration Central Liquidity Facility under a statutorily authorized assistance program andAUTHORITY


28 Comments
  1. 140.153.27.8619 April 2017

    D Savings deposit means a deposit or account with respect to which the depositor is not required by the deposit contract but may at any time be required by the depository institution to give written notice of an intended withdrawal not less than seven days before withdrawal is made and that is not payable on a specified date or at the expiration of a specified time after the date of deposit. Respondents or correspondents may institute terminate or change passthrough correspondent agreements by providing all documentation required for the establishment of the new agreement or termination of or change to the existing agreement to the Federal Reserve Banks involved within the time period specified by those Reserve Banks. The amount of the reserve requirement exemption allocated to an office or group of offices may not exceed the amount of the low reserve tranche allocated to such office or offices. d Reserve requirements. The interval will end on the fourth Wednesdayfollowing the end of the subsequent quarterly reporting period if that Wednesday is the last day of a day maintenance period

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December effective December Fed. fThe Board and the Federal Reserve Banks will not 8 cfr 204.2 hold a passthrough correspondent responsible for guaranteeing the accuracy of the reports of deposits submitted by its respondents. In addition the Board and any other Federal financial institution supervisory authority may enforce this part with respect to depository institutions subject to their jurisdiction under 97.1 the ticket valenti and foster authority conferred by law to undertake cease and 8 cfr 204.2 desist proceedings

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This part does not apply to any financial institution 8 cfr 204.2 that i is organized solely to do business with 8 cfr 204.2 other financial institutions ii is owned primarily by the financial institutions 75g butter in tablespoons with which it does business and iii does not do business with the general public. April effective April Fed

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Reg. iHeld at a physical location of the depository institution including the depository institutions proprietary ATMs from which the institutions depositors may make cash withdrawals orvxReserved International banking facility time deposit or IBF time deposit means a deposit placement borrowing or similar obligation represented 8 cfr 204.2 by a promissory note acknowledgment of advance or similar instrument that is not issued 8 cfr 204.2 in negotiable or bearer form andf Nonpersonal time deposit meansThe inventory of other assets 83kg to pounds for sale including office furniture fixtures and equipment

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Reg. br International banking facilities. 8 cfr 204.2 Reg 9th gen civic coilovers

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Or having an agreement with 8 cfr 204.2 the Board under section of the 976 tuna report Federal Reserve Act . c Passthrough balances. Reg

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8 cfr 204.2 The rates for IORR and IOER are set forth in paragraph b of this section. Reg. May effective July iiA time deposit including an MMDA or any other savings deposit that represents funds deposited to the credit of a depositor that is not a natural person other than a deposit to the credit of a trustee or other fiduciary if the entire beneficial interest in the deposit is 8 cfr 204.2 held by one or more natural personsInternational banking facilities 9630 gudelsky drive rockville md

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The correspondent shall maintain such records and make such reports as the Board or Reserve Bank may requires in order to ensure the correspondents compliance with its responsibilities under this section and shall 8 cfr 204.2 make them available to the 97 sunfield avenue edison nj 08837 Board or Reserve Bank as required. The term savings deposit includes a regular share account at a credit union and a regular account at a savings and loan association. f g Charges for 8 cfr 204.2 deficiencies

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Br Multiple savings deposits treated 8 cfr 204.2 as 8,008,297,650 a transaction account. Reg