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Bank regulations are a form of government regulation which subject banks to certain requirements, restrictions and guidelines, aiming to uphold the soundness and integrity of the financial system. Image File history File links Gnome-globe. ...
Banker redirects here; see wiktionary:banker for more meanings. ...
The Global Financial System refers to those financial institutions and regulations that act on the international level, as opposed to those that act on a national or regional level. ...
United States
Bank regulation in the United States is highly fragmented compared to other G10 countries where most countries have only one bank regulator. In the U.S., a bank's primary regulator could be the Federal Reserve Board, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, or any one of 50 state regulatory bodies, depending on the charter of the bank. And within the Federal Reserve Board, there are 12 districts with 12 different regulatory staffing groups. The Federal Reserve System is headquartered in the Eccles Building on Constitution Avenue in Washington, DC. The Federal Reserve System (also the Federal Reserve; informally The Fed) is the central bank of the United States. ...
The United States Office of the Comptroller of the Treasury was established in 1863 and serves to charter, regulate and supervise all National banks and the federal branches and agencies of foreign banks. ...
The Office of Thrift Supervision (OTS), an agency in the U.S. Treasury Department, is the primary regulator of federal savings associations (sometimes referred to as federal thrifts). ...
It is also one of the most highly regulated banking environments in the world; however, many of the regulations are not safety and soundness related, but are instead focused on privacy, disclosure, fraud prevention, anti-money laundering, anti-terrorism, anti-usury lending, and promoting lending to lower-income segments. Even individual cities enact their own financial regulation laws (for example, for usury lending). Of Usury, from Brants Stultifera Navis (the Ship of Fools); woodcut attributed to Albrecht Dürer Usury (//, from the Medieval Latin usuria, interest or excessive interest, from Latin usura interest) was defined originally as charging a fee for the use of money. ...
Of Usury, from Brants Stultifera Navis (the Ship of Fools); woodcut attributed to Albrecht Dürer Usury (//, from the Medieval Latin usuria, interest or excessive interest, from Latin usura interest) was defined originally as charging a fee for the use of money. ...
Bank Secrecy Act -
The Bank Secrecy Act (or BSA) requires financial institutions to assist government agencies to detect and prevent money laundering. Specifically, the act requires financial institutions to keep records of cash purchases of negotiable instruments, file reports of cash transactions exceeding $10,000 (daily aggregate amount), and to report suspicious activity that might signify money laundering, tax evasion, or other criminal activities. The Bank Secrecy Act (or BSA, or otherwise known as the Currency and Foreign Transactions Reporting Act) requires U.S.A. financial institutions to assist U.S. government agencies to detect and prevent money laundering. ...
Bank secrecy (or bank privacy) is a legal principle under which banks are allowed to protect personal information about their customers, through the use of numbered bank accounts or otherwise. ...
An agency is a department of a local or national government responsible for the oversight and administration of a specific function, such as a customs agency or a space agency. ...
Money laundering is the practice of engaging in financial transactions in order to conceal the identity, source and destination of the money in question. ...
Money laundering is the practice of engaging in financial transactions in order to conceal the identity, source and destination of the money in question. ...
This article contrasts tax evasion, tax avoidance, tax resistance and tax mitigation. ...
Fair Credit Reporting Act (FCRA) -
More coming later. This article is in need of attention. ...
Pass Through Insurance (PTI) More coming later.
Right to Financial Privacy Act More coming later.
Sarbanes-Oxley Act of 2002 -
More coming later. The Sarbanes-Oxley Act of 2002 (107 H.R. 3763), signed into law on 30 July 2002, is considered the most significant change to federal securities laws in the United States since the New Deal. ...
USA PATRIOT Act -
More coming later. President George W. Bush signing the USA PATRIOT Act in the White Houses East Room on October 26, 2001. ...
Federal Reserve Regulations Regulation BB - Community Reinvestment Act (CRA) -
- Financial institutions are required to reinvest in the communities they serve. There should be an emphasis on low to moderate income (LMI) neighborhoods.
- Financial institutions must display a CRA notice
- Each branch must have a current CRA public file. It must be shown upon request.
The Community Reinvestment Act (or CRA, Pub. ...
Regulation C - Home Mortgage Disclosure Act (HMDA) -
The HMDA requires financial institutions to maintain and annually disclose data about home purchases, home purchase pre-approvals, home improvement, and refinance applications involving 1 to 4 unit and multifamily dwellings. It also requires branches and loan centers to display an HMDA poster. The Home Mortgage Disclosure Act (or HMDA) was passed in 1975. ...
Regulation CC - Expedited Funds Availability Act -
- Defines when standard holds and exception holds can be placed on check deposits, and defines the maximum length of time the money can be held.
- Deposits made in person and meeting certain requirements must be made available by the next business day.
- $100 from each deposit on hold is immediately available
- Standard holds
- The first $4,900: 2 business days
- The remaining amount over $5,000: 7 business days
- Exception Holds
- The first $4,900: 5 business days
- The remaining amount over $5,000: 11 business days
- Special Check Deposits, including guaranteed items such as cashiers checks
- The first $5,000 must be made available immediately
- A bank's hold policy can be less stringent than the guidelines outlined in Reg. CC, but it cannot exceed the guidelines.
The Expedited Funds Availability Act (EFA or EFAA) was enacted in 1987 by the United States Congress for the purpose of standardizing hold periods on deposits made to commercial banks and to regulate institutions use of deposit holds. ...
Regulation D - Reserve Requirements for Depository Institutions - Establishes reserve requirement guidelines.
- Regulates certain early withdrawals from certificate of deposit accounts.
- Defines what qualifies as DDA/NOW accounts. See Reg. Q to see eligibility rules for interest-bearing checking accounts.
- Defines limitations on certain withdrawals on savings and money market accounts.
- Unlimited transfers or withdrawals if made in person, by ATM, by mail, or by messenger.
- In all other instances, there is a limit of six (6) transfers or withdrawals. No more than three (3) of these transactions may be made payable to a third party (by check, draft, point-of-sale, etc.).
- Some banks will charge a fee with each excess transaction
- Bank must close accounts where this transaction limit is constantly exceeded
A certificate of deposit or CD is, in the United States, a time deposit, a familiar financial product, commonly offered to consumers by banks, thrift institutions, and credit unions. ...
Regulation DD - Truth in Savings Act -
The purpose of this part is to enable consumers to make informed decisions about accounts at depository institutions. This part requires depository institutions to provide disclosures so that consumers can make meaningful comparisons among depository institutions. This regulation is not applicable to credit unions. The Truth in Savings Act (also known by the acronym TISA) is a United States federal law that was passed on December 19, 1991. ...
A credit union is a not-for-profit co-operative financial institution that is owned and controlled by its members, through the election of a volunteer Board of Directors elected from the membership itself. ...
- Part 230 -- Truth in Savings (pdf)
Regulation E - Electronic Funds Transfer Act More coming later test editing
Regulation O - Loans to Insiders More coming later
Regulation P - Privacy of Consumer Financial Information More coming later
Regulation Q - Prohibition Against Payment of Interest on Certain Deposit Account Types More coming later
Reserve requirement -
The reserve requirement sets the minimum reserves each bank must hold to customer deposits and notes. This type of regulation has perhaps lost the role it once had in places like the United States. In 2004 deposits in United States banks were roughly $8 trillion while central bank "reserves of depository institutions" were less than $50 billion. This is because reserve requirements apply to just transaction deposits today. The reserve requirement (or required reserve ratio) is a government regulation, that sets the minimum reserves each bank must hold to customer deposits and notes. ...
Bank reserves are banks holdings of deposits in accounts with their central bank (for instance the European Central Bank or the Federal Reserve, in the later case called federal funds), plus currency that is physically held in banks vaults (vault cash). ...
Banker redirects here; see wiktionary:banker for more meanings. ...
A deposit account is an account at a banking institution that allows money to be held on behalf of the account holder. ...
Main article deposit (bank) A deposit is a specific sum of money taken and held on account, by a bank as a service provided for its clients. ...
In the United States transactions deposit is a term used by the Federal Reserve for checkable deposits and other accounts that can be used directly as cash without withdrawal limits or restrictions. ...
The reason for these reserves are both to put a limit on how much the supply of deposits (money and credit) can grow. They also work as a cushion in case of a severe recession that leads to a "bank run." Theatrical promotional poster depicting a bank run A bank run is a type of financial crisis. ...
Capital requirement -
The capital requirement sets a framework on how banks and depository institutions must handle their capital in relation to their assets. Internationally, the Bank for International Settlements's Basel Committee on Banking Supervision influences each country's capital requirements. In 1988, the Committee decided to introduce a capital measurement system commonly referred to as the Basel Capital Accords. The latest capital adequacy framework is commonly known as Basel II. The capital requirement is a bank regulation, which sets a framework on how banks and depository institutions must handle their capital. ...
A depository institution is a financial institution, such as a savings bank, that is legally allowed to accept monetary deposits from consumers. ...
Capital has a number of related meanings in economics, finance and accounting. ...
In business and accounting an asset is anything owned which can produce future economic benefit, whether in possession or by right to take possession, by a person or a group acting together, e. ...
BIS Headquarters in Basel The Bank for International Settlements (or BIS) is an international organization of central banks which exists to foster cooperation among central banks and other agencies in pursuit of monetary and financial stability. It carries out its work through subcommittees, the secretariats it hosts, and through its...
Basel Committee on Banking Supervision is an institution created by the central bank Governors of the Group of Ten nations (see G-10). ...
1988 (MCMLXXXVIII) was a leap year starting on Friday of the Gregorian calendar. ...
The Basel Capital Accords are a series of discussion papers issued by the Basel Committee on Banking Supervision. ...
Basel II, also called The New Accord (correct full name is the International Convergence of Capital Measurement and Capital Standards - A Revised Framework) is the second Basel Accord and represents recommendations by bank supervisors and central bankers from the 13 countries making up the Basel Committee on Banking Supervision (BCBS...
In the United States, "depository institutions" are subject to risk-based capital guidelines issued by the Board of Governors of the Federal Reserve System (FRB). A financial institution acts as an agent that provides financial services for its clients. ...
The Federal Reserve System is headquartered in the Eccles Building on Constitution Avenue in Washington, DC. The Federal Reserve System (also the Federal Reserve; informally The Fed) is the central bank of the United States. ...
See also Anti-money laundering is a term mainly used in the finance and legal industries to describe the legal controls that require financial institutions and other regulated entities to prevent or report money laundering activities. ...
Financial supervision is government supervision of financial institutions by regulators. ...
This article needs to be cleaned up to conform to a higher standard of quality. ...
Monetary policy is the government or central bank process of managing money supply to achieve specific goals—such as constraining inflation, maintaining an exchange rate, achieving full employment or economic growth. ...
A money market is a financial market for short-term borrowing and lending, typically up to thirteen months. ...
External links
Reserve requirements - Reserve Requirements - Fedpoints - Federal Reserve Bank of New York
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