Reciprocal deposits

(q) Reciprocal deposits - Deposits that an insured depository institution receives through a deposit placement network on a reciprocal basis, such that: (1) for any deposit received, the institution (as agent for depositors) places the same amount with other insured depository institutions through the network; and (2) each member of the network sets the interest rate to be paid on the entire amount of funds it places with other network members.

Source

12 CFR § 327.8

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Scoping language

For the purpose of this part 327:

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