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16 Cards in this Set
- Front
- Back
Which Federal Reserve Regulation implements reserve requirement provision of the Federal Reserve Act of 1913 as well as imposes uniform reserve requirements on all depository institutions. |
Federal reserve regulation D Depository Reserves...Regulation D |
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Regulation E Electronic Funds Transfer |
Implements the provisions of the Electronic Fund Transfer Act of 1978. Protects consumers using A.T.Ms, Automatic Clearing Houses (A.C.H) and Credit Cards. Also, documentation of Electronic Transfers |
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Regulation J Looks like a Checkmark |
implements check collection and settlement provision of the Federal Reserve Act of 1913...including procedures for check collection and settlement through the fed. |
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Which regulation implemented the interest bearing account restrictions of the Glass Steagall Act...including banning paying interest on demand deposits. Q - odd ball...not used |
Regulation Q. Interest rate ceilings set by this regulation on all commercial bank deposit accounts phased out partially by DIDMCA and final restrictions removed by Dodd Frank Act. |
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Regulation Y Y, looks like it is Holding Something...Bank Holding Company Act |
Implements provisions of Bank Holding company Act of 1956 and Change in Bank Control Act of 1978. Defines non-banking activities in which bank holding companies and foreign bank organizations in the U.S. may engage, including anti-tying restrictions. |
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Regulation Z applies to the Truth in Lending Act of 1968. How does it impact Treasury Professionals or educational institutions? Z Credit Cards iz Z worst... |
Credit Cards / Student loans 1. no rate increases within 1st year or to existing balances 2. No credit cards to <21, unless can make payments or parent cosign 3. Must get consumer consent before charging fees for purchase > credit limit. 4. Limits fees for subprime cards |
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What regulation says banks must meet credit needs of entire community in which they do business. |
Regulation BB Better Business |
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Regulation CC Check cashing |
Check Cashing - unpaid checks returned expeditiously, establishes endorsement standards for banks and companies to follow when depositing and clearing checks. |
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Fair Disclosure Act - Regulation FD |
material non-public information shared with industry must be made public to all. |
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SEC Rule 2a-7 - Money Market Funds |
Broke the buck...floating NAV, redemption gates for up to 10 business days. |
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U.C.C. Article 3 - Negotiable Instruments |
Relevant for companies receiving paper based payments. Prevents paid in full issues if error discovered in 90 days. Clarifies that a banks failure to examine a forged signature is not a failure if it doesn't violate normal bank procedures. Must report discrepancies in a timely manner. |
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U.c.c Article 4 - Bank Deposits and Collections |
relationship between bank and customer 1. when can charge a customer account 2. bank's liability to customer for failing to honor a good check 3. customer's right to stop payment 4. option not to pay and item more than 6-months old 5. Duty to report unauthorized signature. Customer must examine statement <30 days. |
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Article 4A - Fund Transfers |
Security Procedures (PINS, Callbacks, authentications) Consequential Damages - Banks not usually responsible beyond loss. If incorrectly execute payment order, liable for interest and incidental expenses...not consequential unless in written agreement with constomer |
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Article 5 - Letters of credit |
Does not cover standby Letters of credit. Does define Letter of credit, documentary draft and documentary demand for payment. |
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Article 9 - Secured Transaction |
Any business that requires security interest must file a U.C.C.-1 with State. Lists collateral specifically assigned to secure loan. signed by borrower and lender and defines who has right to asset in the event of default |
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What is escheatment? |
Unclaimed Property or dormant account must be turned over to state. Must file unclaimed property accounts annually and make effort to find owner. Driven by individual state regulations. Failure to comply penalties are more than value of property. |