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#1958590 - 09/02/14 05:52 PM repeal of part 329
beagleboy Offline
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FDIC repealed part 329 in 2011. Did the repeal also include the transaction limitations on MMA and svgs accounts?

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#1958592 - 09/02/14 05:53 PM Re: repeal of part 329 beagleboy
rlcarey Online
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Did the repeal also include the transaction limitations on MMA and svgs accounts?

Those limitations are found in Regulation D (12 CFR 204).
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#1958603 - 09/02/14 06:09 PM Re: repeal of part 329 beagleboy
beagleboy Offline
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Yes, I know where the limitations are found, but did the repeal of part 329 remove the limitations on these accounts?

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#1958605 - 09/02/14 06:10 PM Re: repeal of part 329 beagleboy
beagleboy Offline
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Are banks that are regulated by FDIC exempt from the limitation requirements of reg D?

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#1958607 - 09/02/14 06:11 PM Re: repeal of part 329 beagleboy
manimal Offline
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No, transaction limitations are still there in Reg. D. And yes, FDIC banks are subject to them.
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#1958609 - 09/02/14 06:11 PM Re: repeal of part 329 beagleboy
Kathleen O. Blanchard Offline

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No the transaction limitations (now at 1004, not 204) were not repealed, they have been adjusted. And FDIC regulated banks are not exempt.
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#1958626 - 09/02/14 06:39 PM Re: repeal of part 329 beagleboy
rlcarey Online
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ahh - KB - Regulation D is still 12 CFR 204 - it was not transferred to the CFPB.

12 CFR 1004 would be the Alternative Mortgage Transaction Parity regulations.
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#1958636 - 09/02/14 06:46 PM Re: repeal of part 329 beagleboy
Kathleen O. Blanchard Offline

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And you are right! Stayed up too late last night working!
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#1958640 - 09/02/14 06:59 PM Re: repeal of part 329 beagleboy
John Burnett Offline
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OK. To sum up. The repeal of FRB Regulation Q (Part 217) and FDIC Part 329 were not related in any way to the FRB's Regulation D (Part 204). Regulation D remains in effect, including its definitions (and the restriction in those definitions) of savings accounts, which includes money market deposit accounts.

And you didn't ask, but there also no change to the definition of, or the restrictions on ownership of, NOW accounts.
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#1986384 - 01/05/15 09:24 PM Re: repeal of part 329 beagleboy
Ann Offline
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Just curious, I know it is not repealed, but I can not find examination procedures for this in the FDIC Compliance Examination Manual. Am I missing something in the manual?I thought it was there at one time.

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#1986406 - 01/05/15 10:09 PM Re: repeal of part 329 beagleboy
rlcarey Online
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Examination procedures for what?
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#1986414 - 01/05/15 10:20 PM Re: repeal of part 329 beagleboy
John Burnett Offline
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Wild guess is she is asking about Reg D transfer limits on savings accounts.
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#1986430 - 01/06/15 12:59 AM Re: repeal of part 329 beagleboy
rlcarey Online
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Well, it was lumped into in the Interest on Deposits section of the exam manual which has been deleted.
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#1986524 - 01/06/15 04:54 PM Re: repeal of part 329 beagleboy
John Burnett Offline
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Classic example of tossing out the baby with the bathwater.
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