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#1624195 - 11/03/11 06:59 PM Interest on Deposits Policy
mdog76 Offline
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Posts: 645
Does anyone have an interest on deposit policy, or know of a good template?

Thanks.

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Deposits and Payments
#1624198 - 11/03/11 07:02 PM Re: Interest on Deposits Policy mdog76
rlcarey Online
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rlcarey
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Galveston, TX
Why would any bank have a need for such a policy - what would it cover? Would this be part of the ALM policy.
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#1624211 - 11/03/11 07:11 PM Re: Interest on Deposits Policy rlcarey
mdog76 Offline
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We were told by examiners that we needed it.

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#1624215 - 11/03/11 07:13 PM Re: Interest on Deposits Policy mdog76
rlcarey Online
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rlcarey
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Galveston, TX
I would ask the examiners then what the heck they are talking about. With no context to the suggestion, how are you suppose to know what they are looking for.
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#1624283 - 11/03/11 08:16 PM Re: Interest on Deposits Policy rlcarey
Doug Hendrickson Offline
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Doug Hendrickson
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We have no such policy. We do have a procedure for Interest on Deposits / Account Eligiblity. It outlines the procedures to ensure that an entity opening a NOW account meets the eligibility requirements and the procedures for monitoring the limitations on MMDA and savings account transactions.
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#1624319 - 11/03/11 08:54 PM Re: Interest on Deposits Policy Doug Hendrickson
ahou Offline
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ahou
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Interest on Deposits was the term used by the OTS for Regs D & Q. They were reviewed together under the exam prog named Interest on Deposits.
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#1624327 - 11/03/11 09:03 PM Re: Interest on Deposits Policy ahou
Elwood P. Dowd Offline
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Elwood P. Dowd
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Next to Harvey
Hints are good! That's what the FDIC calls Part 329 of its regulations too.
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#1624338 - 11/03/11 09:27 PM Re: Interest on Deposits Policy Elwood P. Dowd
John Burnett Offline
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John Burnett
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Cape Cod
Called Part 329. It's off in CFR heaven with Part 217 (Reg Q) awaiting reassignment for another regulation.
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