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Electronic Code of Federal Regulations

e-CFR Data is current as of April 17, 2014

Amendment from June 20, 2005


12 CFR--PART 204

View Printed Federal Register page 77 FR 21852 in PDF format.

Amendment(s) published April 12, 2012, in 77 FR 21852

Effective Dates: January 24, 2013

4. Effective January 24, 2013, §204.2 is further amended by:

A. Revising paragraphs (z) and (ff); and

B. Adding paragraphs (gg) and (hh).

The additions and revisions read as follows:

§204.2   Definitions.

*   *   *   *   *

(z)Excess balancemeans the average balance maintained in an account at a Federal Reserve Bank by or on behalf of an institution over a reserve maintenance period that exceeds the top of the penalty-free band.

*   *   *   *   *

(ff)Deficiencymeans the bottom of the penalty-free band less the average balance maintained in an account at a Federal Reserve Bank by or on behalf of an institution over a reserve maintenance period.

(gg)Top of the penalty-free bandmeans an amount equal to an institution's reserve balance requirement plus an amount that is the greater of 10 percent of the institution's reserve balance requirement or $50,000. The top of the penalty-free band for a pass-through correspondent is an amount equal to the aggregate reserve balance requirement of the correspondent (if any) and all of its respondents plus an amount that is the greater of 10 percent of that aggregate reserve balance requirement or $50,000.

(hh)Bottom of the penalty-free bandmeans an amount equal to an institution's reserve balance requirement less an amount that is the greater of 10 percent of the institution's reserve balance requirement or $50,000. The bottom of the penalty-free band for a pass-through correspondent is an amount equal to the aggregate reserve balance requirement of the correspondent (if any) and all of its respondents less an amount that is the greater of 10 percent of that aggregate reserve balance requirement or $50,000. In no case will the penalty-free band be less than zero.



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