Ga. Comp. R. & Regs. R. 80-1-9-.01 - Borrowed Money Defined
Borrowed money for purposes of this Regulation and as used in O.C.G.A. § 7-1-291 shall mean the sum of all moneys owed by a bank including participations sold with recourse but excluding:
(a) Liabilities for
deposits and official checks recorded during the regular course of
business,
(b) Liabilities for
moneys accrued as expenses payable or income deferred,
(c) Liabilities for commercial paper
rediscounted,
(d) Liabilities to
Federal Reserve Bank on account of money borrowed or rediscounts,
(e) Liabilities on account of the acquisition
of reserve balances at a Federal Reserve Bank or other reserve agent from a
member or nonmember bank,
(f)
Liabilities on account of agreements to repurchase securities sold by the bank
(commonly known as "repurchase agreements"),
(g) Liabilities which result from the
purchase of Federal or Correspondent Funds in excess of amounts excluded under
subparagraph (d) herein to the extent that such Federal or Correspondent Funds
are held for resale to other financial institutions,
(h) Liabilities which result from the
acquisition of excess funds of any state or federal savings and loan
association for the purpose of investing such funds in the "federal fund"
market at the direction of the association,
(i) Liabilities which result from borrowing
from the Export-Import Bank of the United States to the extent that such
borrowings are secured by obligations to the bank which are guaranteed by the
Export-Import Bank, and
(j)
Liabilities in the form of subordinated securities pursuant to O.C.G.A. §
7-1-419.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.