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 unsecured transfer of immediately available funds by one depository institution to another depository institution or entity.
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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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Examples of Federal funds transaction in a sentence

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

  • 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.

  • 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.

  • Mr. Elvin announced that PVTA Administrator Mary MacInnes will be retiring from the PVTA at the end of April, noting that Ms. MacInnes has been working at the PVTA since 2006.

  • When the funds sold are overnight deposits, the transaction is usually structured as an overnight Federal funds transaction.

  • 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.

  • 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.

  • 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.

  • 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.

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,

  • Funds transfer means the series of transactions, beginning with the originator's payment order, made for the purpose of making payment to the beneficiary of the order. The term includes any payment order issued by the originator's bank or an intermediary bank intended to carry out the originator's payment order. A funds transfer is completed by acceptance by the beneficiary's bank of a payment order for the benefit of the beneficiary of the originator's payment order.

  • 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.

  • Funds-transfer business day of a receiving bank means the part of a day during which the receiving bank is open for the receipt, processing, and transmittal of payment orders and cancellations and amendments of payment orders.

  • 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.

  • Federal Reserve Bank Book-Entry System means a depository and securities transfer system operated by the Federal Reserve Bank of the United States on which are eligible to be held all United States Government direct obligation bills, notes and bonds.

  • 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 New York Federal Reserve, currently at http://www.newyorkfed.org, or any successor source.

  • Electronic Funds Transfer (EFT) indicator means a four-character suffix to the unique entity identifier. The suffix is assigned at the discretion of the commercial, nonprofit, or Government entity to establish additional System for Award Management records for identifying alternative EFT accounts (see subpart 32.11) for the same entity.

  • 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.

  • Securities Transaction means a purchase of or sale of Securities.

  • 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.

  • Federal Funds Open Rate Note Unless otherwise specified on the face hereof, “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.

  • 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 means 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.