12 C.F.R. § 327.33 “Acquired” deposits.
Title 12 - Banks and Banking
This section interprets the phrase “deposits acquired by the institution” as used in §327.32(a)(3)(i). (a) In general—(1) Secondary-fund deposits. The phrase “deposits acquired by the institution” refers to deposits that are insured by the secondary fund of the acquiring institution, and does not include deposits that are insured by the acquiring institution's primary fund. (2) Nominal dollar amount. Except as provided in paragraph (b) of this section, an acquiring institution is deemed to acquire the entire nominal dollar amount of any deposits that the transferring institution holds on the date of the transaction and transfers to the acquiring institution. (b) Conduit deposits—(1) Defined. As used in this paragraph (b), the term “conduit deposits” refers to deposits that an acquiring institution has assumed from another institution (original transferor) in the course of a transaction described in §327.31(a), and that are treated as insured by the secondary fund of the acquiring institution, but which the acquiring institution has been explicitly and specifically ordered by the Corporation, or by the appropriate federal banking agency for the institution, or by the Department of Justice to commit to re-transfer to another insured depository institution (re-transferee institution) as a condition of approval of the transaction. The commitment must be enforceable, and the divestiture must be required to occur and must occur within 6 months after the date of the initial transaction. (2) Treatment with respect to acquiring institution. Conduit deposits are not considered to be acquired by the acquiring institution within the meaning of §327.32(a)(3)(i) for the purpose of computing the acquiring institution's adjusted attributable deposit amount for a current semiannual period that begins after the end of the semiannual period following the semiannual period in which the acquiring institution re-transfers the deposits. (3) Treatment with respect to re-transferee institution. Conduit deposits are treated as insured by the same insurance fund after having been acquired by the re-transferee institution as when held by the original transferor. [61 FR 64983, Dec. 10, 1996]
Title 12: Banks and Banking
PART 327—ASSESSMENTS
Subpart B—Insured Depository Institutions Participating in Section 5(d)(3) Transactions
§ 327.33 “Acquired” deposits.
