Federal funds transaction definition

Federal funds transaction means a short-term or open-ended
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Federal funds transaction means a short−term or open− ended transfer of funds to an authorized depository financial insti- tution.
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Federal funds transaction means a short-term or open- ended unsecured transfer of immediately available funds by one depository institution to another depository institution or entity.
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Examples of Federal funds transaction in a sentence

  • To sell Federal funds to a bank or institution whose accounts are federally insured, provided that the interest or other consideration received from the financial institution is at the market rate for Federal funds transaction and that the transaction has a maturity of one or more business days or the credit union is able to require repayment at any time.

  • Federal funds transaction" means a short-term or open-endedtransfer of funds to an authorized financial institution.

  • This view seemed appropriate because the mechanics of a Federal funds transaction restricted participation in the Federal funds market to member banks alone.The Federal Reserve Board’s decision to make Federal funds nonreservable is best understood as a means of encouraging the Federal funds market as an alternative to the two conventional means of reserve adjustment then in use : the discount window and the call loan market.

  • Federal credit unions may sell Federal kinds to a Section 107(8) institution, provided that the interest or other consideration received from the financial institution is at the market rate for Federal funds transaction and that the transaction has a maturity of one or more business days or the credit union is able to require repayment at any time.

  • My illness meant that I was very inactive and I put on a lot of weight.

  • However , the FHLBank may not engage in a term Federal funds transaction with a maturity that exceeds six months.

  • The Federal Reserve Board concluded that legal effect of this transaction wasindistinguishable from a conventional Federal funds transaction.

  • Unlike a available funds when they sell securities regular Federal funds transaction, where financed by such loans, but are not re• the interest cost is paid immediately, the quired to make payment until the next day, clearing bank accumulates the charges for they can sell Federal funds to banks when• funds supplied, and the credits for funds ever they repay "clearinghouse" loans.

  • Unlike the conventional Federal funds transaction discussed above, the entire transaction takes place on the books of the correspondent bank and does not involve transfers of funds through a Federal Reserve Bank account.

  • The FR 2420 instructions state a Federal funds transaction (purchase) is an unsecured borrowing in U.S. dollars from a counterparty that is an exempt entity as defined in Regulation D.

Related to Federal funds transaction

  • Federal Funds means federal or other immediately available funds which at the time of payment are legal tender for the payment of public and private debts in the United States of America.

  • Federal Funds Effective Rate means, for any day, the weighted average (rounded upwards, if necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average (rounded upwards, if necessary, to the next 1/100 of 1%) of the quotations for such day for such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected by it.

  • Federal Funds Rate means, for any day, the rate per annum equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that (a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Bank of America on such day on such transactions as determined by the Administrative Agent.

  • Federal facility means any building or infrastructure used or to be used by the federal government,

  • Federal Reserve Bank The Federal Reserve Bank of New York and/or such other Federal Reserve Banks as may maintain Pass-Through Certificates on the Fed System, or any successor selected or approved by Xxxxxxx Mac.

  • Federal Funds Open Rate means the rate set forth on Moneyline Telerate (or any successor service) on page 5 (or any other page as may replace the specified page on that service) for an Interest Determination Date underneath the caption “FEDERAL FUNDS” in the row titled “OPEN”. If the rate is not available for an Interest Determination Date, the rate for that Interest Determination Date shall be the Federal Funds Rate as determined below.

  • Overnight Foreign Currency Rate means, for any amount payable in a Foreign Currency, the rate of interest per annum as determined by the Administrative Agent at which overnight or weekend deposits in the relevant currency (or if such amount due remains unpaid for more than three (3) Business Days, then for such other period of time as the Administrative Agent may elect) for delivery in immediately available and freely transferable funds would be offered by the Administrative Agent to major banks in the interbank market upon request of such major banks for the relevant currency as determined above and in an amount comparable to the unpaid principal amount of the related Credit Event, plus any taxes, levies, imposts, duties, deductions, charges or withholdings imposed upon, or charged to, the Administrative Agent by any relevant correspondent bank in respect of such amount in such relevant currency.

  • New York Federal Reserve s Website" means the website of the Federal Reserve Bank of New York currently at http://www.newyorkfed.org, or any successor website;

  • Fed Funds Effective Rate means, in respect of a day, the rate of interest (expressed as an annual rate) as published in Federal Reserve Statistical Release H.15 (519) or Reuters Screen FEDFUNDS 1 Page or Bloomberg Page FEDL01 INDEX or any substituted publication therefor, charged for federal funds (dollars in immediately available funds borrowed by banks on an overnight unsecured basis) on that day or the immediately preceding day for which it had a value, or, if not available, ascertained from any other source as the Margin Loan Provider may deem appropriate.

  • New York Federal Reserve’s Website means the website of the Federal Reserve Bank of New York currently at http://www.newyorkfed.org, or any successor website;

  • Qualified Financial Institution means, at any time, a financial institution organized under the laws of any jurisdiction in the United States of America or Europe that at such time has outstanding debt obligations with a stated maturity of one year or less from the date of issue and rated A-1 or higher by Standard & Poor’s, a division of The McGraw Hill Companies, Inc., Ratings Group (or any successor) or P-1 or higher by Moody’s Investors Service, Inc. (or any successor) or, in either case, such other comparable rating, if any, then used by such rating agency.

  • Overnight LIBOR Rate means, in relation to any Loan in a LIBOR Quoted Specified Alternative Currency for any day, a rate per annum equal to the London Interbank Offered Rate (“LIBOR”) for such currency or, if such rate is not available, a comparable or successor rate which rate is reasonably selected by the Administrative Agent, as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time) at approximately 11:00 a.m. (London time) for an amount comparable to the amount of that Loan on such day for overnight deposits in the relevant currency, and, if any such applicable rate is below zero, the Overnight Libor Rate for such day will be deemed to be zero; provided, that, after the date hereof and to the extent a comparable or successor rate is reasonably selected by the Administrative Agent (as contemplated above), such selected rate shall be applied in a manner consistent with market practice; provided, further that to the extent such market practice is not administratively feasible for the Administrative Agent, such selected rate shall be applied in a manner as otherwise reasonably determined by the Administrative Agent.

  • foreign financial institution means an institution registered as a foreign financial institution with the Ministry of Finance in the Mexican Banking and Financial Institutions, Pensions, Retirement and Foreign Investment Funds Registry for purposes of Article 195, Section I of the Mexican Income Tax Law.

  • regulated financial institution means a state or nationally chartered bank, savings and loan association or savings bank, credit union, trust company, or other state or federally chartered lending institution or a regulated affiliate or regulated subsidiary of any of these entities.

  • Reserve Bank means the Reserve Bank of India constituted by Section 3 of the Reserve Bank of India Act, 1934 (2 of 1934).

  • Foreign market vehicle means any motor vehicle originally manufactured outside the United States,

  • Federal banking agency means the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, the Director of the Office of Thrift Supervision, the National Credit Union Administration and the Federal Deposit Insurance Corporation;

  • Applicable agency GNMA, FNMA or FHLMC, as applicable.

  • Qualified United States financial institution means an institution that:

  • Securities Financing Transactions Regulation means Regulation (EU) 2015/2365 of the European Parliament and of the Council of 25 November 2015 on transparency of securities financing transactions and of reuse and amending Regulation (EU) No 648/2012;

  • Federal banking agencies means the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, the Director of the Office of Thrift Supervision, the National Credit Union Administration, and the Federal Deposit Insurance Corporation.

  • Money Market Margin has the meaning set forth in Section 2.03(d).

  • Reference Rate means the rate specified as such hereon.

  • Canadian financial institution means (i) an association governed by the Cooperative Credit Associations Act (Canada) or a central cooperative credit society for which an order has been made under section 473(1) of that Act, or (ii) a bank, loan corporation, trust company, trust corporation, insurance company, treasury branch, credit union, caisse populaire, financial services cooperative, or league that, in each case, is authorized by an enactment of Canada or a jurisdiction of Canada to carry on business in Canada or a jurisdiction of Canada;

  • NYFRB Rate means the rate for a federal funds transaction quoted at 11:00 a.m. on such day received to the Administrative Agent from a Federal funds broker of recognized standing selected by it; provided, further, that if any of the aforesaid rates shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.