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#467034 - 12/06/05 10:50 PM Fed Funds and Legal Lending Limit
HRH Okie Banker Offline
Power Poster
Joined: Jan 2003
Posts: 3,070
Oklahoma
I need help please! Would a line for the overnite purchase of fed funds by a Co-Bank be limited to our legal lending limit?
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Lending Compliance
#467035 - 12/07/05 02:59 PM Re: Fed Funds and Legal Lending Limit
HRH Okie Banker Offline
Power Poster
Joined: Jan 2003
Posts: 3,070
Oklahoma
Bump, please
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Just working here until I get my letter from Hogwarts.

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#467036 - 12/07/05 03:51 PM Re: Fed Funds and Legal Lending Limit
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
I will assume "Co-bank" is referring to an affiliate. If so I believe this would be covered under Reg. W 223.11. You may want to look to Section E to see if it falls within an exemption. I haven't dealt with affiliate banks for over 10 years so I'm not as up on this specific Reg. as I probably should be.
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The opinions expressed are mine and they are not to be taken as legal advice.

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