12 C.F.R. § 327.8 Definitions.
Title 12 - Banks and Banking
For the purposes of this part 327: (a) Unposted credits and debits—(1) Unposted credit. The term unposted credit means any deposit received in any office of a depository institution for deposit in any other office of the depository institution located in any State of the United States, the District of Columbia, Puerto Rico, Guam, American Samoa, the Northern Marianas Islands, or the Virgin Islands, except those which have been: (i) Included in the total deposits in the quarterly report of condition; or (ii) Offset in the quarterly report of condition by an equal amount of cash items in the institution's possession drawn on itself (on the same type of deposits as those offset) and not charged against deposit liabilities at the close of business on the date of the quarterly report of condition. (2) Unposted debit. The term unposted debit means a cash item in the reporting institution's possession that is drawn on the institution and immediately chargeable, but not yet charged, against the institution's deposit liabilities at the close of business on the date of the quarterly report of condition. The following items are excluded: (i) Cash items drawn on other depository institutions, (ii) Overdrafts and nonsufficient fund (NSF) items, (iii) Cash items returned unpaid to the last endorser for any reason, and (iv) Drafts and warrants that are payable at or payable through the reporting institution for which there is no written authorization on file at the institution or State statute allowing the institution at its discretion to charge the items against the deposit accounts of the drawees. (3) Exclusion. The above terms unposted credit and unposted debit do not include items which have been reflected in deposit accounts on the general ledger and in the quarterly report of condition, even though they have not been credited or debited to individual deposit accounts. (b) Deposits—(1) Deposit. The term deposit has the meaning specified in section 3(1) of the Federal Deposit Insurance Act. In particular, the term deposit includes any liability—without regard for whether the liability is a liability of an insured bank or of an insured savings association—that is of a kind which, had the liability been a liability of an insured bank immediately prior to the effective date of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, would have constituted a deposit in such bank within the meaning of section 3(1) of the Federal Deposit Insurance Act as such section 3(1) was then in effect. (2) Demand deposits. The term demand deposits refers to deposits specified in §329.1(b) of this chapter, except that any reference to bank in such section shall be deemed to refer to depository institution. (3) Time and savings deposits. The term time and savings deposits refers to any deposits other than demand deposits. (4) Exception. (i) Deposits accumulated for the payment of personal loans, which represent actual loan payments received by the depository institution from borrowers and accumulated by the depository institution in hypothecated deposit accounts for payment of the loans at maturity, shall not be reported as deposits on the quarterly report of condition. The deposit amounts covered by the exception are to be deducted from the loan amounts for which these deposits have been accumulated and assigned or pledged to effectuate payment. (ii) Time and savings deposits that are pledged as collateral to secure loans are not deposits accumulated for the payment of personal loans and are to be reported in the same manner as if they were not securing a loan. (c) Quarterly report of condition. The term quarterly report of condition means a report required to be filed pursuant to section 7(a)(3) of the Federal Deposit Insurance Act. (d) Semiannual period—(1) In general. The term semiannual period means a period beginning on January 1 of any calendar year and ending on June 30 of the same year, or a period beginning on July 1 of any calendar year and ending on December 31 of the same year. (2) Current semiannual period. The term current semiannual period means, with respect to a certified statement or an assessment, the semiannual period within which such certified statement is required to be filed or for which such assessment is required to be paid. (3) Prior semiannual period. The term prior semiannual period means, with respect to a certified statement or an assessment, the semiannual period immediately prior to the current semiannual period. (e) Newly insured institution. The term newly insured institution means an institution that became an insured depository institution during the semiannual period immediately prior to the period for which the certified statement is required: Provided, That the term newly insured institution does not include any institution that became an insured depository institution as a result of the operation of section 4(a)(2) of the Federal Deposit Insurance Act. (f) BIF; BIF member—(1) BIF. The term BIF means the Bank Insurance Fund. (2) BIF member The term BIF member means a depository institution that is a member of the BIF. (g) SAIF; SAIF member.—(1) SAIF. The term SAIF means the Savings Association Insurance Fund. (2) SAIF member. The term SAIF member means a depository institution that is a member of the SAIF. (h) As used in §327.6(a), the following terms are given the following meanings: (1) Surviving institution. The term surviving institution means an insured depository institution that assumes some or all of the deposits of another insured depository institution in a terminating transfer. (2) Terminating institution. The term terminating institution means an insured depository institution some or all of the deposits of which are assumed by another insured depository institution in a terminating transfer. (3) Terminating transfer. The term terminating transfer means the assumption by one insured depository institution of another insured depository institution's liability for deposits, whether by way of merger, consolidation, or other statutory assumption, or pursuant to contract, when the terminating institution goes out of business or transfers all or substantially all its assets and liabilities to other institutions or otherwise ceases to be obliged to pay subsequent assessments by or at the end of the semiannual period during which such assumption of liability for deposits occurs. The term terminating transfer does not refer to the assumption of liability for deposits from the estate of a failed institution, or to a transaction in which the FDIC contributes its own resources in order to induce a surviving institution to assume liabilities of a terminating institution. (i) [Reserved] (j) Primary fund. The primary fund of an insured depository institution is the insurance fund of which the institution is a member. (k) Secondary fund. The secondary fund of an insured depository institution is the insurance fund that is not the primary fund of the institution. [54 FR 51374, Dec. 15, 1989, as amended at 59 FR 67164, Dec. 29, 1994; 60 FR 42741, Aug. 16, 1995; 61 FR 64983, Dec. 10, 1996; 61 FR 67696, Dec. 24, 1996; 62 FR 27176, May 19, 1997]
Title 12: Banks and Banking
PART 327—ASSESSMENTS
Subpart A—In General
§ 327.8 Definitions.
