Operational deposit definition
Operational deposit means unsecured wholesale funding that is necessary for the [BANK] to provide operational services as an independent third-party intermediary, agent or administrator to the wholesale customer or counterparty providing the unsecured wholesale funding. In order to recognize a deposit as an operational deposit for purposes of this part, a [BANK] must comply with the requirements of § .4(b) with respect to that deposit.”
Operational deposit means unsecured wholesale funding or a collateralized deposit that is necessary for the na- tional bank or Federal savings associa- tion to provide operational services as an independent third-party inter- mediary, agent, or administrator to the wholesale customer or counterparty providing the unsecured wholesale funding or collateralized de- posit. In order to recognize a deposit as an operational deposit for purposes of this part, a national bank or Federal savings association must comply with the requirements of § 50.4(b) with re- spect to that deposit. Operational services means the fol- lowing services, provided they are per- formed as part of cash management, clearing, or custody services:
Operational deposit means a deposit that a legal person makes with a bank in order to be provided with payment services and settlement services, with safe custody and management of financial instruments, or with other similar services, while at the same time the legal person demonstrably cannot withdraw a part of the deposit payable within 30 calendar days without jeopardising the operation of its enterprise;
More Definitions of Operational deposit
Operational deposit means unsecured wholesale funding or a collateralized deposit that is necessary for the bank to provide operational services as an independent third-party intermediary, agent, or administrator to the wholesale customer or counterparty providing the unsecured wholesale funding or collateralized deposit. To recognize a deposit as an operational deposit for purposes of 12 CFR 50, a bank must comply with the requirements of 12 CFR 50.4(b) with respect to that deposit. (Footnote added in version 1.1)