12 CFR 217.3 - Interest on demand deposits.

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§ 217.3 Interest on demand deposits.
No member bank of the Federal Reserve System shall, directly or indirectly, by any device whatsoever, pay any interest on any demand deposit. 1

Footnote(s):
1 A member bank may continue to pay interest on a time deposit for not more than ten calendar days; (1) Where the member bank has provided in the time deposit contract that, if the deposit or any portion thereof is withdrawn not more than ten calendar days after a maturity date (one business day for “IBF time deposits” as defined in § 204.8(a)(2) of Regulation D), interest will continue to be paid for such period; or (2) for a period between a maturity date and the date of renewal of the deposit, provided that such certificate is renewed within ten calendar days after maturity.

[Reg. Q, 51 FR 9637, Mar. 20, 1986]

Title 12 published on 2014-01-01

The following are only the Rules published in the Federal Register after the published date of Title 12.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2014-07-30; vol. 79 # 146 - Wednesday, July 30, 2014
    1. 79 FR 44120 - Regulatory Capital Rules: Advanced Approaches Risk-Based Capital Rule, Revisions to the Definition of Eligible Guarantee
      GPO FDSys XML | Text
      FEDERAL RESERVE SYSTEM, FEDERAL DEPOSIT INSURANCE CORPORATION, DEPARTMENT OF TREASURY, Office of the Comptroller of the Currency
      Final rule.
      This rule is effective on October 1, 2014. Any company subject to the rule may elect to adopt it before this date.
      12 CFR Part 3

Title 12 published on 2014-01-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR 217 after this date.

  • 2014-07-30; vol. 79 # 146 - Wednesday, July 30, 2014
    1. 79 FR 44120 - Regulatory Capital Rules: Advanced Approaches Risk-Based Capital Rule, Revisions to the Definition of Eligible Guarantee
      GPO FDSys XML | Text
      FEDERAL RESERVE SYSTEM, FEDERAL DEPOSIT INSURANCE CORPORATION, DEPARTMENT OF TREASURY, Office of the Comptroller of the Currency
      Final rule.
      This rule is effective on October 1, 2014. Any company subject to the rule may elect to adopt it before this date.
      12 CFR Part 3