What is a FR 2900 report?
FR 2900 (Commercial Banks) Description: This report collects information on select deposits and vault cash from depository institutions.
What products does FR 2900 report?
Reporting Form FR 2900 For use by commercial banks, Edge Act and agreement corporations, industrial banks, building or savings and loan associations, mutual savings banks, cooperative banks, homestead associations, and savings banks.
What is a net transaction account?
What are Net Transaction Accounts? Net transaction accounts are the sum of transaction accounts minus demand balances due from other U.S. depository institutions and cash items in the process of collection.
What are primary obligations reportable on the FR 2900?
Primary obligations are reported as deposits on the FR 2900 because they are subject to reserve requirements and are considered part of the monetary aggregates. On the Call Report, however, primary obligations are not reported as deposits.
What accounts are covered by Reg DD?
It includes time, demand, savings, and negotiable order of withdrawal accounts. Regulation DD covers interest-bearing as well as noninterest-bearing accounts.
What does 0 reserve requirement mean?
As of March 26, 2020, the reserve requirement was set at 0%. 1 That’s when the board eliminated the reserve requirement due to the global financial crisis. 4 This means that banks aren’t required to keep deposits at their Reserve Bank. Instead, they can use the funds to lend to their customers.
Which of the following is an example of transaction accounts?
A transaction account allows the account holder to make or receive payments by: ATM cards (withdraw cash at any Automated Teller Machine) Debit card (cashless direct payment at a store or merchant) Cash (deposit and withdrawal of coins and banknotes at a branch)
What happens if early withdrawal penalties are imposed on a time deposit?
Banks are free to impose greater penalties by contract with the depositor. If a bank fails to impose early withdrawal penalties when they are required by Regulation D, the account ceases to be a time deposit account.
What is the Ffiec 002?
Description: This report is mandated by the International Banking Act (IBA) of 1978. It collects balance sheet and off-balance-sheet information, including detailed supporting schedule items, from all U.S. branches and agencies of foreign banks.
What is not covered by Reg DD?
Regulation DD only applies to accounts issued by depository institutions. Non-banks and credit unions are not affected.
Which of the following accounts is not covered by Reg DD?
Coverage (§ 230.1) Regulation DD applies to all depository institutions, except credit unions, that offer deposit accounts to residents of any state.
What is the current RRR?
The RRR for big banks now stands at 11.5% and the weighted average RRR for financial institutions at 8.4%.