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Topic: Depository institutions

  Special Notice for Depository Institutions: Financial Management Service: U.S. Department of the Treasury
A depository institution that verifies the identity of an individual seeking to cash a Treasury benefit or assistance check by calling a telephone number provided by the issuing agency for this purpose will not be liable in a reclamation action based on a forged indorsement.
In addition, a depository institution will not be liable for cashing a Treasury benefit or assistance check bearing a forged indorsement if the depository institution has used prudent efforts to verify the identity of the individual cashing the check.
Depository institutions are encouraged to contact the Treasury check assistance number if an individual is seeking to cash a FEMA check in a larger amount.
www.fms.treas.gov /katrina_notice_depository_institutions.html   (629 words)

  The Federal Reserve Bank Discount Window & Payments System Risk Website
Depository institutions assigned a composite CAMELS or CAMEL rating of 1, 2, or 3 (or SOSA 1 or 2 and ROCA 1, 2, or 3) that are at least adequately capitalized are eligible for primary credit unless supplementary information indicates that the institution is not generally sound.
Depository institutions assigned a composite CAMELS or CAMEL rating of 4 (or SOSA 1 or 2 and ROCA 4 or 5) are not eligible for primary credit unless an ongoing examination indicates that the institution is at least adequately capitalized and that its condition has improved sufficiently to be deemed generally sound.
Institutions that had executed borrowing agreements before 2003 were notified of their eligibility for primary or secondary credit at the onset of those programs in January of 2003.
www.frbdiscountwindow.org /faqs.cfm   (3573 words)

 FDIC: FDIC Definition of Minority Depository Institution
ection 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ("FIRREA") requires the Secretary of the Treasury to consult with the Director of the Office of Thrift Supervision and the Chairperson of the FDIC Board of Directors to determine the best methods for preserving and encouraging minority ownership of depository institutions.
In addition to institutions that meet the ownership test, institutions will be considered minority depository institutions if a majority of the Board of Directors is minority and the community that the institution serves is predominantly minority.
Institutions that are not already identified as minority depository institutions can request to be designated as such by certifying that they meet the above definition.
www.fdic.gov /regulations/resources/minority/MDI_Definition.html   (269 words)

 H.R. 1224, Business Checking Freedom Act of 2005
Depository institutions may also hold additional balances called required or contractual clearing balances, which can earn an implicit rate of interest in the form of an interest credit that is used to defray fees for Federal Reserve services.
Allowing depository institutions to pay interest on business demand deposit accounts would, in itself, have the effect of increasing demand deposit accounts at depository institutions, although CBO estimates that this effect would not be significant without the additional provision of allowing interest on required reserves.
Depository institutions that do not currently offer commercial sweep accounts would offer interest-bearing business demand deposit accounts, and businesses that currently have sweep accounts would have an incentive to hold higher levels of demand deposits with the allowance of interest on business demand deposits.
www.cbo.gov /showdoc.cfm?index=6353&sequence=0   (3836 words)

 NCUA IRPS 85-2 -- Repurchase Agreements of Depository Institutions with Securities Dealers and Others 11/85
Depository institutions that actively engage in repurchase agreements are encouraged to have more comprehensive policies and controls to suit their particular circumstances.
Depository institutions should be particularly careful in conducting repurchase agreements with any firm that offers terms that are significantly more favorable than those currently prevailing in the market.
A depository institution doing business with an unregulated securities dealer should be certain that the dealer voluntarily complies with the Federal Reserve Bank of New York's minimum capital guideline, which currently calls for liquid capital to exceed measured risk by 20 percent (that is, the ratio of a dealer's liquid capital to risk of 1.2:1).
www.ncua.gov /RegulationsOpinionsLaws/IRPS/1985/IRPS85-2.html   (2829 words)

 UT Admin Code R331-7. Rule Governing Leasing Transactions by Depository Institutions Subject to the Jurisdiction of the ...
A depository institution shall be considered an assignor of lease payments, residual of assigned leases, or both, if after entering into a lease as a lessor of property, it then borrows against the lease payments, residual, or both, by assigning them to another funding source.
A depository institution shall be considered an assignee of lease payments, residual of assigned leases, or both, if another lessor assigns the lease payments, residual, or both, of its own lease to the depository institution in order to fund the lease.
Although a depository institution shall be allowed to earn a gross profit in a lease transaction in addition to interest income from the rentals and residual, it shall be precluded from inventorying property except for sample or display purposes.
www.rules.utah.gov /publicat/code/r331/r331-007.htm   (4078 words)

 The Discount Window - Fedpoints - Federal Reserve Bank of New York   (Site not responding. Last check: )
All depository institutions that maintain transaction accounts or nonpersonal time deposits subject to reserve requirements are entitled to borrow at the discount window.
Prior to the passage of the Depository Institutions Deregulation and Monetary Control Act of 1980, discount window borrowing generally had been restricted to commercial banks that were members of the Federal Reserve System.
Institutions that borrowed at the discount window sometimes expressed concern that borrowing at the window signaled weakness both to competitors and the Fed. Such concerns deterred some depository institutions from borrowing at the discount window during very tight money markets when doing so would have been appropriate.
www.ny.frb.org /aboutthefed/fedpoint/fed18.html   (1251 words)

 DLEG - Bulletin No. 2001-10-OFIS   (Site not responding. Last check: )
The focus of this bulletin is upon the conduct of depository institutions that are governed by the Act ("depository institutions").
Depository institutions have sought clarification of their duties under the Code where conflicts exist.
This conflicts with section 104(d)(2)(B)(viii), which provides that a state may not prevent a depository institution from informing a customer or prospective customer that insurance is available from the depository institution or an affiliate of the depository institution.
www.michigan.gov /cis/0,1607,7-154-10555_12900_12906-28702--,00.html   (930 words)

 Do all banks hold reserves, and, if so, where do they hold them? (11/2001)
All depository institutions (commercial banks, savings institutions, credit unions, and foreign banking entities) are required to hold reserves against certain types of deposits that they report as liabilities on their balance sheets.
Depository institutions normally keep a certain level of vault cash on hand to meet the operating needs of their offices and branches.
Effective December 28, 2000, depository institutions were required to hold a reserve requirement of 3 percent against their first $42.8 million in net transaction accounts (demand and other checkable deposits).
www.frbsf.org /education/activities/drecon/2001/0111.html   (404 words)

 Frequently Asked Questions < Institutions
Institutions also may now request a loan at any time during the business day, rather than waiting until the end of day after completing their daily funding activities.
Eligibility for primary credit is limited to depository institutions that are in generally sound financial condition (see Eligibility Requirements).
An institution’s eligibility for primary credit is derived from and related to examination ratings prepared by and for the institution's banking supervisor; the rating itself constitutes an assessment of an institution’s soundness.
www.clevelandfed.org /DiscountWindow/questionsin.cfm   (433 words)

The rules in this chapter provide standards with respect to capital requirements for depository institutions for determining whether such institutions are operating in an unsafe or unsound condition, and reflect permissible activities with respect to the provision of stock option plans consistent with law.
State depository institutions are provided with standards concerning capital requirements and threshold levels at which the Department will determine whether such depositories are in an unsafe or unsound financial condition for purposes of taking action in accordance with N.J.S.A. 17:9A-266 et seq.
State depository institutions will continue to be required to incur costs associated with any order issued due to the failure of such institution to maintain appropriate capital ratios as set forth in the rules.
www.state.nj.us /dobi/pn02_206.htm   (1894 words)

 Chapter 18
Assumptions include: all liabilities are checkable deposits, depository institutions do not keep excess reserves; people desire to hold only additional checkable deposits and do not want to hold additional currency, and all assets are either reserves or loans.
The depository institution first uses reserve requirement to calculate how much of the reserves it is required to keep and how much are excess reserves.
If depository institutions expect larger deposit outflows, they will be more likely to keep excess reserves for liquidity purposes.
www.ndsu.nodak.edu /instruct/swandal/ECON324f/notes/chp18.htm   (1722 words)

 Attorney General: Hon. Joseph M. Suggs, Jr., State Treasurer, 1993-021 Formal Opinion, Attorney General of Connecticut
The amount of collateral a depository institution must maintain under the statute varies depending on the risk-based capital ratio of the depository, which is a measure of the institution's financial stability, or the length of time it has been conducting business in the state.
Nothing in the language of the section indicates that a depository institution's agreements with public depositors are exempt from its application, or are to be treated in any manner differently than agreements with any other depositor.
An appropriate officer of the institution should certify to the State that the agreement was approved by the board of directors, and provide a copy of the minutes of the meeting where such approval was granted, and also certify that the agreement is maintained as an official record of the institution.
www.ct.gov /ag/cwp/view.asp?A=1770&Q=281418   (2019 words)

 Structure and Functions - Services to Depository Institutions
Since the passage of the Depository Institutions Deregulation and Monetary Control Act of 1980, Reserve Banks’; financial services have been available not just to banks that are members of the Federal Reserve System but also to nonmember commercial banks, savings and loan associations, credit unions, and mutual savings banks.
When depository institutions have excess cash on hand they may return it to the Reserve Banks, where the amount is verified and worn-out notes are destroyed.
Depository institutions may request a Reserve Bank to hold securities either for safekeeping or as collateral for loans from the Federal Reserve.
www.frbatlanta.org /invoke_brochure.cfm?objectid=883845F8-AB84-11D5-898400508BB89A83&method=display_body   (517 words)

 Oregon Insurance Division: Bulletin 2001-4
It is in the best interest of this state and the producers, insurers and depository institutions that operate within its boundaries to adopt an expedited process for reviewing these application forms.
This bulletin is promulgated consistent with the spirit of functional regulation to make it more efficient for depository institutions to comply with their obligations to their functional regulators.
Exhibits 2 and 3 are model notices for use by depository institutions and other "covered persons" in complying with the written disclosure requirements related to insurance sales that are imposed by Section 305 of the GLBA and the corresponding regulations promulgated by the federal banking agencies.
www.cbs.state.or.us /ins/bulletins/bulletin2001-4.html   (1100 words)

 Reporting Criteria for Depository Institutions   (Site not responding. Last check: )
The following questions for a depository institution should be answered to determine if you should report CY 2000 HMDA data in 2001.
If a depository institution responds 'YES' to the above questions 1 through 4 and 'YES' to at least one question in 5, then HMDA applies to the institution's loan originations, purchases, and applications in the current calendar year.
For depository institutions, a branch office is an office approved as a branch by a supervisory agency (except that a branch office of a credit union is any office where member accounts are established or loans are made, whether or not the office has been approved as a branch by a federal or state agency).
www.ffiec.gov /hmda/reportde.htm   (312 words)

 The Depository Institutions Deregulation Act
The Depository Institutions Deregulation Act also calls for the gradual elimination of Regulation Q, a measure which permits the Federal Reserve to set a ceiling on the interest rate paid on savings deposits.
Although the minimum balance requirement of $300-500 that many New England institutions require may be too high for some depositors, NOW accounts are a supplement, not a substitute, for the current checking accounts.
Proponents of Regulation Q defend interest rate ceilings on the grounds that they are necessary to preserve the viability of thrift institutions and to protect the housing and mortgage markets from the burden of high interest rates.
www.heritage.org /research/regulation/IB51.cfm   (3333 words)

 Institutional - Electronic Confirms For Banks/Depository Institutions
Section 403.5(d)(1)(ii) of the GSA regulations states that a financial institution that retains custody of government securities that are the subject of a hold-in-custody repo transaction between the financial institution and the counterparty shall confirm in writing the specific securities that are the subject of the transaction.
Accordingly, financial institutions wishing to use electronic media for delivering hold-in-custody repo confirmations to customers must also: (1) obtain the customer's agreement prior to delivering confirmations electronically; and (2) be prepared to provide paper copies of confirmations should the customer request them -- even if the customer initially consented to the receipt of electronic confirmations.
Section 450.4(b)(1) requires a depository institution that is a custodian of government securities to issue a confirmation or a safekeeping receipt for each security held for a customer except securities that are the subject of hold-in-custody repos (which are already subject to the hold-in-custody repo confirmation requirements of § 403.5(d)).
www.treasurydirect.gov /instit/statreg/gsareg/gsareg_gsr052if.htm   (1616 words)

 Effect on Depository Institutions | Discount window
The new discount window lending programs represent an additional backup funding option for eligible institutions seeking to supplement their funding sources.
For many depository institutions, particularly those with more limited access to wholesale funding markets, the new lending programs will also eliminate the need to bid for funds in the marketplace when available funds are tight.
Nonetheless, the minimal administration of the new program makes it a convenient and ready source of backup funding for qualifying institutions faced with situations such as an unexpected increase in loan demand, loss of deposits, or reserve account shortfall.
www.clevelandfed.org /DiscountWindow/institutions.cfm   (116 words)

 Regulation D - Reserve Requirements of Depository Institutions
To assure the effectiveness of the limitations on persons who sell Federal funds to depository institutions, Regulation D applies to nondocumentary obligations undertaken by a depository institution to obtain funds for use in its banking business, as well as to documentary obligations.
In view of this requirement, a depository institution that purchases Federal funds should ascertain the character (not necessarily the identity) of the actual seller in order to justify classification of its liability on the transaction as Federal funds purchased rather than as a deposit.
Any exempt institution that has given general assurance to the purchasing depository institution that sales by it of Federal funds ordinarily will be for its own account and thereafter executes such transactions for the account of others, should disclose the nature of the actual lender with respect to each such transaction.
www.bankersonline.com /regs/204/204-126.html   (436 words)

 Federal Reserve Bank of Philadelphia - Consumer Information - Know Your Depository Institution   (Site not responding. Last check: )
Basically, they are the institutions that can offer some form of government insurance on their customers' deposits.
Depository institutions offer a wide range of financial services.
But, again, because these institutions grew up in different eras, their regulators are different, too.
www.phil.frb.org /consumers/knowyourinstitution.html   (1221 words)

 Discount Window - Federal Reserve Bank of New York
Primary credit is available to generally sound depository institutions on a very short-term basis as a backup rather than a regular source of funding.
Depository institutions are not required to seek alternative sources of funds before requesting advances of primary credit.
Seasonal credit is available to relatively small depository institutions to meet regular seasonal funding needs.
www.newyorkfed.org /banking/discountwindow.html   (280 words)

 DEPOSITORY INSTITUTIONS | Business solutions from AllBusiness.com
Alligators in the swamp: the impact of derivatives on the financial performance of depository institutions.
Financial Institutions In the Year 2000 The nation's financial system is in the midst of its greatest upheaval and restructuring since the 1930s.
Introduction The framers of the Depository Institutions Deregulation and Monetary Control Act of 1980 sought to restructure the financial services industry so that depository...
www.allbusiness.com /depository-institutions/3072314-1.html   (757 words)

 Depository institution - Wikipedia, the free encyclopedia
A depository institution is a financial institution in United States, such as a savings bank, that is legally allowed to accept monetary deposits from consumers.
Federal depository institutions are regulated by the Federal Deposit Insurance Corporation (FDIC).
An example of a non-depository institution might be a mortgage bank.
en.wikipedia.org /wiki/Depository_institution   (88 words)

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