Collateralized deposit

Collateralized deposit means:
(1) A deposit of a public sector entity held at the FDIC-supervised institution that is secured under applicable law by a lien on assets owned by the FDIC-supervised institution and that gives the depositor, as holder of the lien, priority over the assets in the event the FDIC-supervised institution enters into receivership, bankruptcy, insolvency, liquidation, resolution, or similar proceeding; or
(2) A deposit of a fiduciary account held at the FDIC-supervised institution for which the FDIC-supervised institution is a fiduciary and sets aside assets owned by the FDIC-supervised institution as security under 12 CFR 9.10 (national bank) or 12 CFR 150.300 through 150.320 (Federal savings associations) and that gives the depositor priority over the assets in the event the FDIC-supervised institution enters into receivership, bankruptcy, insolvency, liquidation, resolution, or similar proceeding.

Source

12 CFR § 329.3


Scoping language

For the purposes of this part:

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