Report of Transaction Accounts, Other Deposits, and Vault Cash (weekly)

Reports of Deposits

FR2900cu_20120930_i

Report of Transaction Accounts, Other Deposits, and Vault Cash (weekly)

OMB: 7100-0087

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Board of Governors of the Federal Reserve System

Instructions for the Preparation of the

Report of Transaction Accounts, Other Deposits, and Vault Cash
Reporting Form FR 2900

For use by credit unions. There are separate instructions for U.S. branches and agencies of
foreign (non-U.S.) banks, commercial banks, Edge Act and agreement corporations, industrial
banks, building or savings and loan associations, mutual savings banks, cooperative banks,
homestead associations, and savings banks.

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September 2012

Table of Contents

Introduction ....................................................................................................................................6
Public Reporting Burden..................................................................................................................7
Section 1 - General Instructions ...................................................................................................8
A. Who Must Report.......................................................................................................................8
B. Reporting Frequency..................................................................................................................8
C. Where to Report .........................................................................................................................9
D. How to Report ............................................................................................................................9
D.1. Treatment of International Banking Facility (IBF) Accounts...........................................9
D.2. Consolidation ....................................................................................................................9
D.3. Basis of Accounting ........................................................................................................10
D.4. Denomination..................................................................................................................11
D.5. Foreign (Non-U.S.) Currency-Denominated Transactions .............................................11
D.6. Recordkeeping ................................................................................................................11
D.7. Weekend and Holiday Posting ........................................................................................12
D.8. Pre-Posting ......................................................................................................................12
D.9. Overdrafts or Negative Balances ....................................................................................13
D.10.Unposted Debits and Credits ..........................................................................................13
D.11.Rejected Items .................................................................................................................13
D.12.Filing of Data ..................................................................................................................14
E. Requests for Revised Data .......................................................................................................14
F. Liabilities That Are Reservable under Regulation D ...............................................................14
G. Deposits as Defined under Regulation D .................................................................................14
G.1. Deposits...........................................................................................................................14
G.2. Primary Obligations (A,C, D, and F) ..............................................................................16
G.3. Primary Obligations (AA.1, BB.2) .................................................................................17
H. Treatment of Pass-Through Balances ......................................................................................18
I. Treatment of Trust Funds.........................................................................................................19
J. Treatment of Escrow Funds .....................................................................................................20
K. Treatment of Payment Errors ...................................................................................................20
K.1. Duplicate Payment ..........................................................................................................20
K.2. Misdirected Payment ......................................................................................................20
K.3. Failed Payment................................................................................................................21
K.4. Improper Third-Party Transfers ......................................................................................21
L. Treatment of Sweep Arrangements .........................................................................................21
L.1. Retail Sweeps ..................................................................................................................21
L.2. Offshore Investment Sweeps ..........................................................................................22
L.3. Domestic Investment Sweeps .........................................................................................22
M. Mergers ....................................................................................................................................22
N. Treatment of Suspense Accounts .............................................................................................22
O. Netting......................................................................................................................................22

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Section 2 - Item-By-Item Instructions ........................................................................................24
Transaction Accounts (Items A.1 through A.3) .............................................................................24
General Description of Transaction Accounts .........................................................................24
Summary of Transaction Account Classifications ...................................................................26
Demand Deposits (Items A.1.a through A.1.c) ........................................................................27
Demand Deposits Due to Depository Institutions (Item A.1.a) .........................................32
U.S. Government Demand Deposits (Item A.1.b) .............................................................36
Other Demand Deposits (Item A.1.c) ................................................................................37
ATS accounts, NOW Accounts/Share Drafts, and Telephone and
Preauthorized transfers (Item A.2) ...........................................................................................40
Total Transaction Accounts (Item A.3) ...................................................................................42
Deductions from Transaction Accounts (Items B.1 and B.2) ........................................................42
Demand Balances Due from Depository Institutions in the United States (Item B.1) ............42
Cash Items in Process of Collection (Item B.2) .......................................................................45
Total Savings Deposits (Item C.1) .................................................................................................47
Procedures for Ensuring That the Permissible Number of Transfers from
Savings Deposits Is Not Exceeded ..........................................................................................50
Total Time Deposits (Item D.1) .....................................................................................................51
Reporting of Deposits Issued on a Discount Basis ...................................................................52
Vault Cash (Item E.1) ....................................................................................................................55
Memorandum Section ....................................................................................................................56
All Time Deposits with Balances of $100,000 or More (Included in Item D.1) (Item F.1) ....56
Schedule AA and Schedule BB-Other Reservable Obligations by Remaining Maturity ..............58
Ineligible Acceptances and Obligations Issued by Affiliates (Items AA.1 and BB.2) ............58
Determining Maturities ............................................................................................................59
Classifying an Affiliate’s Obligation .......................................................................................59
Schedule AA ............................................................................................................................61
Ineligible Acceptances and Obligations Issued by Affiliates Maturing in
Less Than Seven Days (Item AA.1) .................................................................................61
Schedule BB-Nonpersonal Items ...................................................................................................61
Total Nonpersonal Savings and Time Deposits (Item BB.1) ..................................................62
Ineligible Acceptances and Obligations Issued by Affiliates Maturing in
Seven Days or More (Nonpersonal Only) (Item BB.2) ...........................................................63
Schedule CC-Net Eurocurrency Liabilities ...................................................................................64
Net Eurocurrency Liabilities (Item CC.1) ...............................................................................64
Who Must Report................................................................................................................64
Worksheet for Preparation of Item CC.1, Net Eurocurrency Liabilities for All Depository
Institutions Other Than U.S. Branches and Agencies of Foreign (Non-U.S.) Banks ..............65
Step-by-Step Instructions for Calculating Item CC.1, Net Eurocurrency Liabilities ..............67
Gross Borrowings from Non-U.S. Offices of Other Depository Institutions and from
Certain Designated Non-U.S. Entities (Worksheet Item 1) ..............................................68
Gross Liabilities to Own Non-U.S. Branches plus Net Liabilities to Own IBF
(Worksheet Item 2) ...........................................................................................................69
Gross Claims on Own Non-U.S. Branches plus Net Claims on Own IBF
(Worksheet Item 3) ...........................................................................................................70

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Assets Held by Own IBF and Own Non-U.S. Branches Acquired from U.S. Offices
(Worksheet Item 4) ............................................................................................................71
Credit Extended by Own Non-U.S. Branches to U.S. Residents (Worksheet Item 5) ......72
Glossary ........................................................................................................................................73
Acknowledgement of advance .......................................................................................................73
ATS (Automatic transfer service) account ....................................................................................73
Bankers’ acceptance.......................................................................................................................73
Bankers’ bank ................................................................................................................................73
Banking business ...........................................................................................................................74
Bank note .......................................................................................................................................74
Bona fide cash management ..........................................................................................................74
Branches and agencies of foreign (non-U.S.) banks ......................................................................74
Brokered deposits...........................................................................................................................74
Brokers security draft .....................................................................................................................75
Cash collateral account ..................................................................................................................75
Certificate of indebtedness .............................................................................................................75
Club accounts .................................................................................................................................75
Commodity or bill of lading draft ..................................................................................................75
Credit balance ................................................................................................................................75
Custodial inventory program .........................................................................................................76
Dealer reserve or dealer differential account .................................................................................76
Demand deposit .............................................................................................................................76
Deposit notes ..................................................................................................................................76
Depository institution.....................................................................................................................77
Deposits..........................................................................................................................................78
Dividend.........................................................................................................................................78
Draft ...............................................................................................................................................78
Due bill...........................................................................................................................................78
Edge Act and agreement corporations ...........................................................................................78
Excess balance account (EBA) ......................................................................................................79
Exempt entities...............................................................................................................................79
Exemption amount .........................................................................................................................80
Federal public funds .......................................................................................................................80
Federal Reserve draft .....................................................................................................................80
Finance bills ...................................................................................................................................80
Foreign (non-U.S.) bank ................................................................................................................81
Foreign (non-U.S.) governments ...................................................................................................81
Foreign (non-U.S.) national government .......................................................................................81
Foreign (non-U.S.) official banking institutions ............................................................................81
Hypothecated deposits ...................................................................................................................81
Immediately available funds ..........................................................................................................82
International institution ..................................................................................................................82
Letter of credit................................................................................................................................82
Loan-to-lender program .................................................................................................................82
Majority-owned subsidiary ............................................................................................................82

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MMDA (Money market deposit account)......................................................................................82
Natural person ................................................................................................................................82
Net transaction accounts ................................................................................................................83
Noncash item .................................................................................................................................83
Nonconsolidated affiliate ...............................................................................................................83
Non-exempt deposit cutoff ............................................................................................................84
Non-exempt entity .........................................................................................................................84
Nonpersonal savings deposit..........................................................................................................84
Nonpersonal time deposit ..............................................................................................................84
Non-U.S. ........................................................................................................................................85
Non-U.S. bank ...............................................................................................................................85
Original maturity............................................................................................................................85
Payable-through drafts ...................................................................................................................85
Personal savings deposit ................................................................................................................85
Personal time deposit .....................................................................................................................85
Preauthorized transfer ....................................................................................................................86
Reduced reporting limit .................................................................................................................86
Remote service unit (RSU) ............................................................................................................86
Repurchase agreement ...................................................................................................................86
Returned item .................................................................................................................................86
Savings deposit ..............................................................................................................................86
Share account .................................................................................................................................87
Share certificate .............................................................................................................................87
Share draft ......................................................................................................................................87
Small time deposit..........................................................................................................................88
Suspense accounts ..........................................................................................................................88
Telephone and preauthorized transfer accounts .............................................................................88
Teller’s check .................................................................................................................................89
Time certificate of deposit .............................................................................................................89
Time deposit...................................................................................................................................89
Time deposit open account ............................................................................................................89
Transferable ...................................................................................................................................90
Unposted credits.............................................................................................................................90
Unposted debits ..............................................................................................................................90
U.S. (United States) .......................................................................................................................90
U.S. branches and agencies of foreign (non-U.S.) banks ..............................................................90
U.S. Treasury general account .......................................................................................................90

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Introduction
The Report of Transaction Accounts, Other Deposits, and Vault Cash (FR 2900) is required from
all banking Edge Act and agreement corporations and U.S. branches and agencies of foreign
(non-U.S.) banks, regardless of the level of their deposits, and from all other depository
institutions in the United States with net transaction accounts greater than the exemption amount
or total transaction accounts, savings deposits, and small time deposits greater than or equal to
the reduced reporting limit as of the periods specified by the Federal Reserve Board. 1 The
FR 2900 report is used by the Federal Reserve for the calculation of required reserves, for the
construction of the monetary aggregates, and to meet the requirement that the exemption amount
be indexed annually as specified by the Federal Reserve Act. Rules governing reserve
requirements are contained in Federal Reserve Regulation D - Reserve Requirements of
Depository Institutions of the Board of Governors of the Federal Reserve System (12 CFR §
204) (Regulation D).
The FR 2900 instructions present detailed instructions for the preparation of the FR 2900 reports
by credit unions. Separate instructions are provided for commercial and industrial banks,
banking Edge Act and agreement corporations, building or savings and loan associations, mutual
savings banks, cooperative banks, homestead associations, savings banks, and U.S. branches and
agencies of foreign (non-U.S.) banks.
The FR 2900 instructions may be obtained upon request from the appropriate Federal Reserve
Bank
and
are
available
on
the
Federal
Reserve
Board’s
website
at
www.federalreserve.gov/reportforms/default.cfm.
Reporting institutions that are not required to submit the FR 2900 may be subject to reduced
deposit reporting, depending on the level of their net transaction accounts and their total
transaction accounts, savings deposits, and small time deposits. A description of the Annual
Report of Deposits and Reservable Liabilities (FR 2910a) is provided in the Reserve
Maintenance Manual
published by the Federal Reserve and located at
www.federalreserve.gov/monetarypolicy/reservereq-reserve-maintenance-manual.htm (Reserve
Maintenance Manual). Reporting forms and instructions for the FR 2910a may be obtained upon
request from the appropriate Federal Reserve Bank and are available on the Federal Reserve
Board’s website at www.federalreserve.gov/reportforms/default.cfm.

Section 411 of the Garn St Germain Depository Institutions Act of 1982 subjects the first $2.0 million of a
reporting institution’s reservable liabilities to a reserve requirement of 0 percent. The amount of reservable
liabilities subject to the 0 percent reserve requirement (the “exemption amount”) is adjusted each year for the next
succeeding calendar year by 80 percent of the percentage increase in total reservable liabilities of all reporting
institutions, measured on an annual basis as of June 30. No corresponding adjustment is made in the event of a
decrease in total reservable liabilities of all reporting institutions.
The criteria used to determine the exemption amount are described in the chapter titled “Reporting Requirements” of
the Reserve Maintenance Manual. Also contained in this chapter are detailed descriptions of the various deposit
reporting categories and information on the annual review and determination of reporting frequencies for all
depository institutions.

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Subsequent sections of these instructions are organized as follows. Section 1 provides general
instructions for preparation of the FR 2900. Section 2 provides item-by-item instructions for all
items on the FR 2900 report. The glossary defines (in alphabetical order) important terms and
phrases that appear underlined throughout the instructions.
Accurate preparation of the FR 2900 report is an important first step in the reserve maintenance
cycle. Based on the deposit levels that the reporting institution reports each reporting period, the
Federal Reserve calculates the level of required reserve balances that must be maintained at, or
passed through to, a Federal Reserve Bank under the reserve maintenance schedule stipulated by
Regulation D. Efficient reserve management begins with accurate and timely deposit reporting.
Errors in reporting may result in higher reserve requirements, which could reduce the reporting
institution’s potential earnings, or in insufficient reserves, which may subject the reporting
institution to the assessment of penalties.
In addition to their use in the calculation of required reserves, data from the FR 2900 report are
used to construct the monetary aggregates. Inaccurate reporting may result in deterioration in the
quality of the monetary aggregates estimates.
The following instructions are based on Regulation D and in no way alter or modify the
requirements of Regulation D. Although every effort has been made to incorporate all existing
regulatory provisions, applicable regulations, interpretations, and legal opinions governing
deposits subject to reserve requirements, the FR 2900 instructions should not be considered the
final authority on the deposit status of all instruments, obligations, or transactions. Final
authority rests with the Board of Governors of the Federal Reserve System. Inquiries concerning
specific instruments, obligations, or transactions may be directed to the Federal Reserve Bank in
the appropriate District. Terms and phrases appearing with an underline are defined and
described in the glossary of this document.

Public Reporting Burden
Public reporting burden for this collection of information is estimated to be 3.50 hours per
response, including time to gather and maintain data in the required format and to review
instructions and complete the information collection. Send comments regarding this burden
estimate or any other aspect of this collection of information, including suggestions for reducing
this burden, to Secretary, Board of Governors of the Federal Reserve System, 20th and C Streets,
NW, Washington, DC 20551; and to the Office of Management and Budget, Paperwork
Reduction Project (7100-0087), Washington, DC 20503.

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Section 1 - General Instructions
A. Who Must Report
The FR 2900 report is required from each of the following institutions:
A.1.

all banking Edge Act and agreement corporations and their U.S. branches, regardless
of size; and

A.2.

all other depository institutions with net transaction accounts greater than the
exemption amount or with total transaction accounts, savings deposits, and small time
deposits greater than or equal to the reduced reporting limit as determined each July
by procedures described annually in the Supplementary Information to Regulation D
and in the Reserve Maintenance Manual.

Any depository institution that opens during the year or any depository institution for which
condition report data are unavailable will be asked to submit an FR 2910a report on June 30
to determine its appropriate reporting category unless its size warrants earlier reporting.
B. Reporting Frequency
The procedures used to determine frequency of reporting are described in the chapter titled
“Reporting Requirements” of the Reserve Maintenance Manual.
B.1.

All banking Edge Act and agreement corporations and their U.S. branches, regardless
of size, must submit the FR 2900 weekly. The reporting week is the seven-day period
that begins on Tuesday and ends on the following Monday. A newly licensed
banking Edge Act and agreement corporation should commence reporting as of the
date the initial accounting entry is made to its books, but not before a permanent
charter or license is issued.

B.2.

All other depository institutions with net transaction accounts greater than the
exemption amount and with total transaction accounts, savings deposits, and small
time deposits greater than or equal to the non-exempt deposit cutoff, or with total
transaction accounts, savings deposits, and small time deposits greater than or equal
to the reduced reporting limit, regardless of the amount of net transaction accounts,
are required to submit the FR 2900 weekly.

B.3.

B.4.

The FR 2900 report contains 12 daily items that should be reported for each day of
the report week. In addition, 3 single-day items should be reported only one day each
year, in June. For weekly FR 2900 reporters, that single day is June 30. For quarterly

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reporters, that single day is the Monday contained in the standard June reporting
week. The 3 single-day items are as follows: item BB.1, Total Nonpersonal Savings
and Time Deposits; item BB.2, Ineligible Acceptances and Obligations Issued by
Affiliates Maturing in Seven Days or More (Nonpersonal Only); and item CC.1, Net
Eurocurrency Liabilities.
C. Where to Report
A reporting institution must file the FR 2900 with the Federal Reserve Bank in the Federal
Reserve District in which the reporting institution is located. A reporting institution is
located in the Federal Reserve District that contains the location specified in the reporting
institution’s charter, organizing certificate, license, or articles of incorporation, or as
specified by the reporting institution’s primary regulator, or if no such location is specified,
the location of its head office, unless otherwise determined by the Federal Reserve Board.
D. How to Report
The FR 2900 shall reflect amounts outstanding as of the “close of business” each day during
the reporting period. The report should be prepared in accordance with the procedures
described below.
D.1.

Treatment of International Banking Facility (IBF) Accounts. An IBF may be
established in the United States by a U.S. depository institution, a U.S. branch or
agency of a foreign (non-U.S.) bank, or a banking Edge Act and agreement
corporation. An IBF is a set of asset and liability accounts segregated on the books
and records of the establishing entity. Permissible IBF assets and liabilities are
defined in Regulation D [12 CFR § 204.8(a)(2) and (3)]. IBF liabilities are exempt
from reserve requirements and thus should be excluded from the FR 2900 report.
However, certain transactions of the establishing entity with its own IBF may be
eurocurrency liabilities of the establishing entity and, if so, should be included in the
calculation of item CC.1, Net Eurocurrency Liabilities.

D.2.

Consolidation. Each reporting institution must prepare a consolidated report that
includes all shares/deposits, vault cash, and allowable deductions of the following
entities:
a.
b.
c.
d.

the head office of the reporting institution;
all branch offices located in the 50 states or the District of Columbia;
all branches on U.S. military facilities, wherever located; and
all majority-owned subsidiaries located in the 50 states or the District of
Columbia.

Banking Edge Act and agreement subsidiaries of the reporting institution are required
to file separate reports to the Federal Reserve and therefore should not be
consolidated in the institution’s report.

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Balances due to and due from non-U.S. branches of the reporting institution should be
excluded from all items on the FR 2900 except for schedule CC, where they are
included in the calculation of net eurocurrency liabilities (item CC.1). Report on the
FR 2900 any deposit received from a non-U.S. office of an affiliate.
Deposits of the reporting institution’s IBF should be excluded from the FR 2900. Net
balances due to or due from the reporting institution’s own IBF should be included in
the calculation of net eurocurrency liabilities (item CC.1) and excluded from all other
items on the FR 2900.
Preparing a consolidated FR 2900 report involves combining all comparable accounts
of the principal office, any branch offices, and all majority-owned subsidiaries to be
consolidated on an account-by-account basis.
The consolidation basis to be used in preparing the FR 2900 may differ from the
report of condition 2 and certain other reports. For example, “checks on hand”
received at a reporting institution’s majority-owned subsidiary should be combined
with the reporting institution’s “cash items in process of collection.” Demand
accounts of a reporting institution’s majority-owned subsidiary at institutions other
than the parent should be combined with the reporting institution’s balance “due from
other depository institutions.” Similarly, obligations of a majority-owned subsidiary
that meet the definition of “deposits” should be included as deposit liabilities of the
parent reporting institution.
Preparing a Consolidated FR 2900 Report (excluding schedule CC)
Step 1: Combine comparable accounts of the reporting institution’s individual
entities on an account-by-account basis.
Example: A demand account of the reporting institution’s majority-owned subsidiary
held at other depository institutions or a reservable liability held on the books of the
reporting institution’s majority-owned subsidiary that meets the definition of a
deposit.
Step 2: Eliminate all interoffice transactions that reflect the existence of debtorcreditor relationships among the entities and branches to be consolidated (including
majority-owned subsidiaries).
Example: Cash that is owed to the parent (head office) by a branch.
D.3.

Basis of Accounting. Liabilities that are reported on the FR 2900 must be based on
the reporting institution’s contractual liability to its counterparty, which includes
accrued interest. Liabilities must be reported based on the reporting institution’s

In this document, the term “report of condition” refers to the Statement of Financial Condition
(NCUA 5300/5300SF).

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September 2012

contractual liability regardless of whether it has elected to report the fair value of its
liabilities on financial statements.
D.4.

Denomination. Amounts should be rounded and reported to the nearest thousand
U.S. dollars.

D.5.

Foreign (Non-U.S.) Currency-Denominated Transactions.
Transactions
denominated in foreign (non-U.S.) currency must be valued in U.S. dollars each
reporting week either by using the exchange rate prevailing on the Tuesday that
begins the seven day reporting week or by using the exchange rate prevailing on each
corresponding day of the reporting week.
Regardless of which of the above two options is elected, the exchange rates to be used
for this conversion are a consistent series of exchange rate quotations. These
procedures will apply to all foreign currency-denominated deposits that are
outstanding during any one day of the reporting week, including those that are
received by the reporting institution after the start of the reporting week (Tuesday) or
paid out before the close of the reporting week (the following Monday).
Once a reporting institution chooses to value foreign (non-U.S.) currency transactions
by using either the weekly (Tuesday) method or the daily (corresponding day)
method, it must use that method consistently over time for all Federal Reserve
reports. If at some future time the reporting institution wishes to change its valuation
procedure from one of these two methods to the other, the change must be applied to
all Federal Reserve reports and then used consistently thereafter. Please notify the
appropriate Federal Reserve Bank of any such change.
Foreign (non-U.S.) currency-denominated deposits held at U.S. offices of a reporting
institution must be converted to U.S. dollars under the procedures stipulated above
and included as appropriate in section A, B, C, or D (and F where applicable) or in
schedules AA, BB, or CC of the FR 2900. In addition, all FR 2900 reporting
institutions, both weekly and quarterly, that offer foreign (non-U.S.) currencydenominated deposits at their U.S. offices must file the Report of Foreign (Non-U.S.)
Currency Deposits (FR 2915), which breaks out the amounts of such deposits,
converted to U.S. dollars that are included in selected FR 2900 line items. For
information on the FR 2915, please contact the appropriate Federal Reserve Bank.

D.6.

Recordkeeping. The amount reported for each day should reflect the amount
outstanding at the “close of business” for that day. The term “close of business”
refers to the time established by the reporting institution as the cutoff time for posting
transactions to its general ledger accounts for that day. The time designated as close
of business should be reasonable and applied consistently.
For purposes of the FR 2900 report, the reporting institution is open when entries are
made to the general ledger accounts of the reporting institution for that day. The
posting of a transaction to the general ledger account means that both debit and credit

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September 2012

entries must be recorded as of the same date. For any day on which the reporting
institution was closed - that is, no entries were made to the general ledger - report the
closing balance as of the preceding day.
Adjustments made to the general ledger after the close of business to accurately
reflect transactions executed as of the close of business on the report date should be
reported on the FR 2900. For example, if the general ledger is updated to correct a
clerical error or a misposting, it is appropriate to revise the FR 2900. However, postclosing adjustments to the accounting records of the reporting institution that reflect
transactions that did not occur on the reporting date should not be reported on the
FR 2900.
Examples:
1. When deposits of a customer under a sweep program were not transferred
between transaction and nontransaction accounts on the general ledger for any reason,
the reporting institution should not make back-valued or post-closing adjustments to
the FR 2900 to reflect the sweep activity that did not actually occur.
2. When deposits of a customer were not transferred to another depository institution
because of operational problems, the FR 2900 should not include any back-valued
adjustments to reflect the activity that did not occur.
D.7.

Weekend and Holiday Posting. Institutions that post to their general ledger on
Saturdays, Sundays, and/or holidays may report these balances on the FR 2900 for
these days. Both debit and credit entries for each transaction must be recorded on the
official books and recorded on the same day in order to be reported on the FR 2900;
otherwise, the preceding day’s balances are reported.

D.8.

Pre-Posting. Transactions that result from prior commitments should be reported on
the date that the transaction is executed, not on the commitment date. However,
where payment information (such as that contained on magnetic tape, paper listings,
and similar items involving automated arrangements) is sent to the reporting
institution prior to the effective payment date, the institution may credit its
depositors’ accounts one day prior to the effective payment date to ensure that the
deposit will be available to the depositor at the opening of business on the payment
date. When such prior credit to deposit accounts is given in connection with
automated arrangements, the credits should be offset by appropriate debit entries to
item B.2, Cash Items in Process of Collection.
Reservable obligations for which settlement is in clearinghouse or uncollected funds
should be reported as of the date that the transaction is executed and not as of the
settlement date or date that collected funds are to be received.

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D.9.

Overdrafts or Negative Balances. Unless covered by a bona fide cash management
arrangement, 3 all deposit accounts with a negative balance as of the close of business
each day (whether resulting from prearranged or unplanned overdrafts or from
operating or other factors) are to be regarded as having a zero balance for purposes of
computing deposit totals. Moreover, any overdrawn deposit account by a customer
should be regarded as a loan made by the reporting institution to that customer, and
the amount of the overdraft should be regarded as zero and not be reported as a
negative deposit. (See subsection I, Treatment of Trust Funds.)
Demand deposit accounts that the reporting institution maintains at another
depository institution and that have negative balances should be regarded as having
zero balances when computing totals for item B.1, Demand Balances Due from
Depository Institutions in the U.S. Specifically, when an account that the reporting
institution routinely maintains with sufficient balances to cover checks or drafts
issued in the normal course of business becomes overdrawn at another depository
institution, negative balances that result from such occasional overdrafts are regarded
as a borrowing and therefore should not be included in the FR 2900 report. However,
checks or drafts drawn against an account that is not routinely maintained with
sufficient balances, or that are drawn against a “zero balance account” (for example,
an account wherein funds are remitted by the reporting institution only when it has
been advised that the checks or drafts have been presented for payment), are
considered demand deposits and are reported in item A.1.c, Other Demand Deposits.

D.10. Unposted Debits and Credits. Unposted debits consist of cash items drawn on the
reporting institution that have been “paid” or credited by the reporting institution and
are chargeable, but that have not been charged against deposits as of the close of
business. These items should be reported in item B.2, Cash Items in Process of
Collection, until they have been charged to either individual or general ledger deposit
accounts.
Unposted credits consist of items that have been received for deposit and that are in
process of collection but have not been posted to individual or general ledger deposit
accounts. These credits should be reported as deposits. (See subsection N, Treatment
of Suspense Accounts.)
D.11. Rejected Items. Rejected items (resulting from mutilated documents, incorrect
account numbers, or other factors) that would otherwise have resulted in credit to
deposit accounts should be included in deposit totals for the day on which
corresponding debits have been posted. Rejected items that represent withdrawals
from deposit accounts and for which corresponding credits have already been
recorded should be deducted from deposits as of the close of business for that day.

Overdrawn accounts of a depositor who maintains more than one transaction account with the reporting institution
may be netted against positive balances in the other transaction accounts pursuant to a bona fide cash management
arrangement.

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D.12. Filing of Data. Weekly and quarterly FR 2900 data may be filed with the appropriate
Federal Reserve Bank either electronically or in hard-copy form. Please visit
www.frbservices.org/centralbank/index.html or contact the appropriate Federal
Reserve Bank for information on electronic submission of the reporting institution’s
data.
Please note that if a reporting institution has its data prepared or transmitted by a
private vendor, the reporting institution is responsible for the timeliness and accuracy
of data to the same extent as if it had prepared and transmitted the data itself. The
reporting institution may be contacted directly by, and be responsible for responding
to, the Federal Reserve regarding questions on its FR 2900 data.
E. Requests for Revised Data
Federal Reserve System staff review data submitted on the FR 2900 report very carefully to
ensure that the data are accurate. As a result of that review, Federal Reserve Bank staff may
ask reporting institutions to explain movements in the data, and, if reported data are
incorrect, staff will ask the institution to submit revisions. Since these data are extremely
time sensitive, reporting institutions should respond as quickly as possible to these requests.
F. Liabilities That Are Reservable under Regulation D
Under the Monetary Control Act of 1980, transaction accounts, nonpersonal time deposits
(which also include nonpersonal savings deposits), and eurocurrency liabilities are subject to
reserve requirements. 4 Rules governing reserve requirements are contained in Regulation D.
Detailed instructions defining these reservable liabilities can be found in the appropriate
item-by-item instructions.
Deposits, as defined by Regulation D, are described in subsection G immediately below.
Please note, however, that in addition to reservable liabilities, certain nonreservable liabilities
are also reported on the FR 2900.
G. Deposits as Defined under Regulation D
Regulation D, section 204.2(a)(1), defines “deposits,” which, for the purposes of the FR 2900
report, are divided into two broad categories of liabilities: deposits and primary obligations
that are undertaken by the reporting institution as a means of obtaining funds.
G.1.

Deposits reported in sections A, C, D, and F of the FR 2900 consist of
a. funds (including brokered deposits) received or held by the reporting institution
for which credit has been given or is obligated to be given to a transaction account
(demand deposit, share draft account, telephone or preauthorized transfer, or ATS
account), a savings deposit account (including share accounts), or a time deposit

Nonpersonal time deposits and eurocurrency liabilities are reservable liabilities even though they currently are
subject to a 0 percent reserve requirement.

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account (including share certificate accounts). Also include interest credited to
such accounts;
b. funds received or held by departments other than the trust department of the
reporting institution for a special or specific purpose, such as escrow funds, funds
held as security for securities lent by the reporting institution, funds deposited as
advance payments on subscriptions to U.S. government securities, and funds held
to meet the reporting institution’s acceptances. Refer to subsection I, Treatment
of Trust Funds, for clarification on trust reporting;
c. cashier’s checks, certified checks, teller’s checks, and other officer’s checks
issued for any purpose, including those issued in payment for services, dividends,
or purchases that are drawn on the reporting institution by any of its duly
authorized officers and that are outstanding on the report date. These checks
include
(1) those drawn by the reporting institution on itself and not payable at or through
another depository institution;
(2) those drawn by the reporting institution and drawn on, or payable at or
through, another depository institution on a zero balance account or an
account that is not routinely maintained with sufficient balances to cover
checks drawn in the normal course of business (including accounts where
funds are remitted by the reporting institution only when it has been advised
that the checks or drafts have been presented).
Those checks drawn by the reporting institution on a deposit account at
another depository institution that the reporting institution routinely maintains
with sufficient balances to cover checks or drafts drawn in the normal course
of business should be excluded from items A.1.a through A.1.c, Demand
Deposits, and recorded directly as a reduction in item B.1, Demand Balances
Due from Depository Institutions in the U.S.; and
(3) those drawn by the reporting institution on, or payable at or through, a Federal
Reserve Bank or a Federal Home Loan Bank;
d. funds received or held in connection with traveler’s checks and teller’s checks
sold (but not drawn) by the reporting institution, until the proceeds of the sale are
remitted to another party. Also include other funds received or held in connection
with any other checks used (but not drawn) by the reporting institution, until the
amount of the checks is remitted to another party;
e. money orders issued for any purpose (including those issued in payment for
services, dividends, or purchases) that are drawn on the reporting institution and
are outstanding on the report date. Also include funds received or held for money

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orders sold, but not drawn, by the reporting institution until the proceeds of the
sale are remitted to another party;
f. funds received or held in connection with letters of credit issued to customers,
including funds credited to cash collateral accounts and similar accounts;
g. checks or drafts drawn by, or on behalf of, a non-U.S. office of the reporting
institution on an account maintained at any U.S. office of the reporting institution;
h. deposits at non-U.S. offices of the reporting institution that are payable at a U.S.
office or for which the depositor is guaranteed payment at a U.S. office. A
deposit of a U.S. resident in a denomination of less than $100,000 is a deposit,
regardless of where it is payable;
i. any obligation to pay a check or draft (including a share draft) drawn on the
reporting institution that has been presented for collection by a third party when
the depositor’s account at the reporting institution has already been charged and
settlement of the check has not been made;
j. credit balances; and
k. any funds received by the reporting institution’s affiliate and later channeled to
the reporting institution by the affiliate in the form of a transaction account,
savings deposit (including share accounts), or time deposit (including share
certificates).
G.2.

Certain primary obligations are reported in sections A, C, D, and F of the FR 2900.
Primary obligations reported in these sections consist of
a. any obligation that can be sold or transferred to another party without the
knowledge of the reporting institution, regardless of the party to whom the
obligation was initially issued;
b. purchases of “federal funds,” either overnight or for a specified term, from nonexempt entities;
c. repurchase agreements entered into with non-exempt entities on any asset other
than (1) an obligation of, or an obligation fully guaranteed as to principal and
interest by, the U.S. government or a federal agency or (2) the shares of a money
market mutual fund whose portfolio consists wholly of obligations of, or
obligations fully guaranteed as to principal and interest by, the U.S. government
or a federal agency;
d. funds raised through the issuance and sale of mortgage securities (backed by a
pool of conventional, non-federally insured mortgages) to non-exempt entities if

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the originating reporting institution is obligated to incur more than the first 10
percent of any loss associated with that pool of mortgages.
This treatment, however, does not apply to normal mortgage loan participation
transactions in which the buyer and seller of a participation in a mortgage loan or
pool of mortgages share all risk of loss on a pro rata basis. In such instances, any
funds raised through the sale of such participations are not subject to reserve
requirements;
e. liabilities of the reporting institution in the form of mortgage-backed bonds that
are issued and sold by the reporting institution to non-exempt entities;
f. proceeds from outstanding sales to non-exempt entities of short-term loans made
under long-term lending commitments;
g. liabilities for outstanding bank notes or other debt instruments other than those
that are subordinated to the claims of depositors, are not insured by a federal
agency, have weighted-average maturities of five years or more, and are issued by
a depository institution with the approval or under the rules and regulations of its
primary federal supervisor;
h. the borrowing of cash equivalents that qualify as deposits for Regulation D
purposes (for example, precious metals); and
i. liabilities arising from the issuance of due bills or similar instruments that are
issued by the reporting institution to any customer (including another depository
institution), regardless of the use of the proceeds, or a debit to an account of the
customer before the securities are delivered, unless collateralized within three
business days from the date of issuance by a security similar to the security
purchased by the reporting institution’s customer. A security is similar if it is of
the same type and if it is of comparable maturity to that purchased by the
customer. In the absence of such collateral, due bills become reservable deposits
beginning on the fourth business day after the date of issuance, without regard to
the purpose of the due bill or the party to whom it was issued.
G.3.

Primary obligations to be reported in items AA.1 and BB.2 of the FR 2900 consist of
any liability of the reporting institution’s nonconsolidated affiliate on any promissory
note (including commercial paper), acknowledgment of advance, due bill, or similar
obligation (written or oral), regardless of maturity, to the extent that the proceeds are
used to supply or maintain the availability of funds (other than capital) to the
reporting institution (1) if the affiliate’s liability would have been regarded as
reservable if issued by the reporting institution and (2) if the proceeds from the
affiliate’s liability are channeled to the reporting institution in the form of a
nonreservable transaction (for example, a sale of the reporting institution’s assets to
its affiliate).

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The proceeds from the affiliate’s liability (whether regarded as reservable or
nonreservable if issued by the reporting institution) when channeled to the reporting
institution in the form of a transaction account, savings deposit (including share
accounts), or time deposit (including share certificates) should be reported by the
reporting institution as a transaction account, savings deposit, or time deposit
respectively (see subsection G.1.a). If the affiliate’s liability would have been
regarded as nonreservable if issued by the reporting institution, and if the proceeds
from the affiliate’s liability are channeled to the reporting institution in the form of a
nonreservable transaction, such funds are excluded from the FR 2900 report.
Regulations may require certain obligations that are not classified as deposits on other
reports to be treated as deposits on the FR 2900 report. For example, certain debt
obligations issued to non-exempt entities are defined as deposits for purposes of
Regulation D and the FR 2900 report but are reported as borrowings on the quarterly
report of condition. Consequently, the deposit balances on the FR 2900 report may
differ from amounts reported in corresponding lines reported on the reporting
institution’s report of condition and on other reports submitted to the reporting
institution’s regulator.
In general, funds received by a reporting institution that are immediately applied to
reduce or extinguish a customer’s indebtedness to that institution do not constitute
deposits because no liability is incurred. However, where a reporting institution
receives funds representing loan repayments in the course of servicing loans for
others, such funds represent deposits. Certain dealer reserve or dealer differential
accounts, such as those that arise when financing a merchant’s installment accounts
receivable and which provide that the dealer may not have access to the funds in the
account until the installment loans are repaid, are exempt from reserve requirements
until the reporting institution becomes obligated to the merchant for the full amount
or any portion of the funds. Similarly, funds that have been irrevocably assigned to
the reporting institution and cannot be reached by its customer or by the customer’s
creditors are not subject to reserve requirements. Finally, certain other liabilities that
do not result in a receipt of funds, such as accounts payable, are not regarded as
reservable liabilities.
H. Treatment of Pass-Through Balances
A reporting institution may satisfy its reserve requirements by holding vault cash, by holding
a reserve balance with its Federal Reserve Bank, or by electing to be a respondent and
passing its required reserve balance through a correspondent institution.
Correspondent institutions should exclude from the FR 2900 report all balances received
from respondent institutions that have been passed through to the Federal Reserve Bank to
satisfy reserve requirements. The correspondent institution should include on the FR 2900
report all balances received from respondent institutions in excess of those held to satisfy
reserve requirements, regardless of whether such balances have been passed through to a
Federal Reserve Bank.

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Respondent institutions should exclude from the FR 2900 report all balances that the
correspondent institution passes through to the Federal Reserve Bank on behalf of the
respondent to satisfy reserve requirements. The respondent institution should include on the
FR 2900 report all balances held by a correspondent institution in excess of the respondent
institution’s reserve requirements, regardless of whether the correspondent institution passes
these excess balances through to the Federal Reserve Bank.
To the extent that balances received by a correspondent institution from a respondent
institution are held pursuant to a general pass-through agreement, the correspondent
institution should report balances received from its respondent institutions in excess of those
held to satisfy reserve requirements in item A.1.a, Demand deposits due to depository
institutions. Accordingly, respondent institutions should report such balances in item B.1,
Demand deposits due from depository institutions in the U.S.

I. Treatment of Trust Funds
Trust funds should be reported as deposits of the reporting institution and should be classified
as transaction accounts, savings deposits (including share accounts), or time deposits
(including share certificates), depending on the terms of the underlying agreement when
I.1.

deposited by the trust department of the reporting institution in the commercial or
other department of the reporting institution;

I.2.

deposited by the trust department of another reporting institution in the commercial or
other department of the reporting institution; or

I.3.

mingled with the general assets of the reporting institution, regardless of where held.

Commingled balances of individual trusts held in a single transaction account may not be
netted. A negative balance in an individual trust account must be reflected as a zero balance
and should not be netted against positive balances in other trusts in computing the amount in
the commingled transaction account each day. The prohibition does not apply, however, if
(1) the applicable trust law specifically permits the netting, or if a written trust agreement,
valid under applicable trust law, permits a trust to lend money to another trust account; or (2)
the amount that caused the overdraft is still available in a settlement, suspense, or other trust
account within the trust department and may be used to offset the overdraft.
Exclude from the FR 2900 report trust funds that a reporting institution receives or holds but
keeps segregated from its general assets and that are not available for general investment or
lending purposes. Items such as bonds, stocks, jewelry, coin collections, and so on, that are
left with the reporting institution for safekeeping, sometimes referred to as “special deposits,”
should not be included as deposits on the FR 2900 report.

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J. Treatment of Escrow Funds
Escrow funds consist of funds deposited with a reporting institution under an agreement that
requires the reporting institution to pay all or some portion of the funds to a third party at a
certain time or upon fulfillment of certain conditions.
Escrow funds should be classified as transaction accounts, savings deposits (including share
accounts), or time deposits (including share certificates) based on the contractual maturity
date or disbursement schedule in the escrow agreement. When the escrow agreement has no
specific maturity date or disbursement schedule, these funds may be classified by when the
funds have been disbursed in practice.
Escrow funds will be regarded as personal savings deposits (including share accounts) or
personal time deposits (including share certificates) if the depositor is a natural person and
the other conditions of a savings deposit or time deposit are met, notwithstanding that the
funds are held by the reporting institution as an escrow agent. The classification of escrow
funds as time deposits or savings deposits (including share certificates and share accounts)
does not depend on whether or not interest or dividends are paid on the funds. Escrow
agreements entered into by the reporting institution in states where the payment of interest or
dividends on such accounts is required by law must comply with the notice or maturity
provisions applicable to time deposits or savings (including share accounts) deposits.
K. Treatment of Payment Errors
Demand deposits that are incurred because of payment errors must be reported in the appropriate
category on the FR 2900. The holder of the funds must report them on the FR 2900, even if the
depository institution that has the funds did not intend to receive these funds or intended to send
these funds but could or did not. Payment errors typically arise from the following transactions:
K.1.

Duplicate Payment. A duplicate payment occurs when the sending institution
transfers funds more than once. Part of this payment will eventually be returned.
However, the funds represent a demand deposit for the receiving institution, and the
amount must be reported as a demand deposit until the funds are disbursed. The
sending institution does not have either a due from depository institution deduction or
a cash item in the process of collection.

K.2.

Misdirected Payment. A misdirected payment occurs when the sending institution
transfers funds to the wrong depository institution. The funds will eventually be
returned to the sending institution or disbursed to the correct institution. However,
the institution that received the funds in error must report these funds as a demand
deposit until the funds are disbursed.
The sending institution does not have either a due from depository institution
deduction or a cash item in the process of collection. The institution that did not
receive the expected funds, regardless of whether or not the institution credited the

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customer’s account in anticipation of receiving payment, does not have either a due
from depository institution deduction or a cash item in the process of collection.
K.3.

Failed Payment. A failed payment occurs when an institution fails to make a
payment requested by a customer because of payment system failures (for example,
computer problems) or a clerical error. The funds retained because the transfer was
not executed must be reported as a demand deposit until the funds are disbursed.
The institution that did not receive the expected funds, regardless of whether or not
the institution credited the customer’s account in anticipation of receiving payment,
does not have either a due from depository institution deduction or a cash item in the
process of collection.

K.4.

Improper Third-Party Transfers. An improper third-party transfer occurs when a
third-party transfer is sent over Fedwire during the settlement period (for example,
after 6:00 p.m. EST). If the transfer is not reversed by the close of Fedwire, the
receiving depository institution must report these funds as a demand deposit. The
sending depository institution does not report these funds as either a due from
depository institution or a cash item in the process of collection.

L. Treatment of Sweep Arrangements
Sweep arrangements allow funds to be automatically transferred between different types of
deposit accounts or between deposit accounts and other interest-bearing instruments. The
FR 2900 should reflect amounts outstanding as of the close of business each day as reflected
on the reporting institution’s general ledger for each item. Therefore, any swept amounts
should be reported based on the account in which they reside at the close of each day, not
where the deposits originated. When deposits of a customer under a sweep program were not
transferred between transaction and nontransaction accounts on the general ledger for any
reason, the reporting institution should not make back-valued or post-closing adjustments to
the FR 2900 to reflect the sweep activity that did not actually occur.
L.1.

Retail Sweeps. When a depository institution establishes a retail sweep program
with respect to transaction account customers, the depository institution must ensure
that its customer account agreements provide for the existence of two distinct
accounts (a transaction account and a savings deposit account, including share
accounts) rather than a single (transaction) account and that funds are actually
transferred between these two accounts as described in the customer contract.
There are three key criteria for valid retail sweep programs:
a. A depository institution must establish by agreement with its transaction account
customer two legally separate accounts: a transaction account (a share draft or
demand deposit account) and a nontransaction account (usually a savings deposit
account (including share accounts), also sometimes called a “money market
deposit account” or “MMDA”).

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b. The swept funds must actually be moved from the customer’s transaction account
to the customer’s savings deposit account (including share accounts) on the
depository institution’s general ledger as of the close of business on the day(s) on
which the depository institution intends to report the funds in question as savings
deposits and not transaction accounts, and vice versa.
Transfers from
nontransaction accounts to transaction accounts associated with sweep
arrangements are considered third party transfers and must comply with the rules
specified in Regulation D 204.2(d)(2). (See item C.1, Total Savings Deposits.)
c. The maximum number of preauthorized or automatic funds transfers (“sweeps”)
from a savings deposit account into a transaction account in a retail sweep
program is limited to not more than six (6) per month.
L.2.

Offshore Investment Sweeps. When a depository institution intends to establish an
offshore sweep program, the deposit contractual agreement between the reporting
institution and its customer must be executed pursuant to which the deposit is payable
as a matter of right only at an office located outside the United States of the reporting
institution. However, if a deposit of a U.S. resident under an offshore sweep program
is less than $100,000, it must be reported on the reporting institution’s FR 2900 as a
deposit, regardless of any provisions in the applicable deposit agreement as to
payability only outside the United States.

L.3.

Domestic Investment Sweeps. When a depository institution intends to establish an
investment sweep program with its customer, a contractual agreement between the
reporting institution and the customer must be executed that clearly states that, for the
period during which the funds are swept, the liability for the funds is no longer a
deposit liability of the reporting institution but rather the liability of the issuer of the
alternate investment.

M. Mergers
The surviving entity of a merger should report consolidated FR 2900 balances as of the first
calendar day that the nonsurvivor no longer exists. This day should be based on the legal
date of the merger regardless of whether it occurs on a weekday, weekend, or holiday.
N. Treatment of Suspense Accounts
Funds in suspense accounts are transaction accounts and must be reported in item A.1.c,
Other Demand Deposits. When the disposition of funds in suspense has been determined, the
funds should be reported in the appropriate line item. However, what was previously
reported cannot be revised.
O. Netting
Netting liabilities against assets is generally not permitted on the FR 2900. Netting is
permitted only when explicitly outlined in these instructions (for example, reciprocal

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balances, bona fide cash management agreements) even if generally accepted accounting
standards permit additional netting practices (for example, FIN 39-1).

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Section 2 - Item-By-Item Instructions
Transaction Accounts (Items A.1 through A.3)
Items A.1 through A.3 of the report collect data on transaction accounts by component. Below is
a general description of transaction accounts, followed by a summary of transaction account
classifications. These descriptions are followed by detailed instructions for each item to be
reported under transaction accounts.

General Description of Transaction Accounts
With exceptions noted below, report in items A.1 through A.3, as appropriate, deposits or
accounts from which the depositor or account holder is permitted to make transfers or
withdrawals by negotiable or transferable instruments, payment orders of withdrawal, telephone
transfers, or other similar devices for the purpose of making payments or transfers to third
persons or others or from which the depositor may make third-party payments at an automated
teller machine (ATM), a remote service unit (RSU), or other electronic device, including by
debit card.
Transaction accounts include
1. demand deposits;
2. deposits or accounts on which the reporting institution has reserved the right to require at
least seven days’ written notice prior to withdrawal or transfer of any funds in the
account, whether or not this right is exercised, and are subject to more than six checks,
drafts, negotiable orders of withdrawal, share drafts, or other similar instrument per
payment cycle;
3. deposits or accounts, such as accounts authorized by 12 U.S.C. §371a (automatic transfer
service accounts, or ATS accounts), on which the reporting institution has reserved the
right to require at least seven days’ written notice prior to withdrawal or transfer of any
funds in the account, whether or not this right is exercised. Withdrawals from these
accounts may be made automatically through payment to the reporting institution itself or
through transfer of credit to a demand deposit account, share draft account, or other
account to cover checks or drafts drawn upon the reporting institution or to maintain a
specified balance in, or to make periodic transfers to, such other accounts provided that
the account consists of funds in which the entire beneficial interest is held by one or more
individuals as prescribed by 12 U.S.C. §371a;
4. deposits or accounts (other than saving deposits, including share accounts) (a) in which
the entire beneficial interest is held by a party eligible to hold a share draft account; and
(b) on which the reporting institution has reserved the right to require at least seven days’
written notice prior to withdrawal or transfer of any funds in the account, whether or not

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September 2012

this right is exercised; and (c) under the terms of which, or by practice of the reporting
institution, the depositor is permitted or authorized to make more than six preauthorized,
automatic, or telephonic withdrawals or transfers per month or statement cycle (or similar
period) of at least four weeks for purposes of
•
•
•

transferring funds to another account of the depositor at the same reporting institution
(including a transaction account); or
making payment to a third party by means of preauthorized transfer; or
making payment to a third party by means of telephonic (including data transmission)
agreement, order, or instruction.

An account that permits or authorizes more than six such withdrawals in a calendar
month, or statement cycle (or similar period) of at least four weeks, is a transaction
account whether or not more than six such withdrawals actually are made during such
period.
A preauthorized transfer includes any arrangement by the reporting institution to pay a
third party from the account of a depositor
•
•

upon written or oral instruction (including an order received through an automated
clearing house, or ACH); or
at a predetermined time or on a fixed schedule.

The following transactions do not constitute preauthorized, automatic, or telephonic
transfers or withdrawals:
•
•

transfers for the purpose of repaying loans and associated expenses at the same
reporting institution (as originator or servicer); or
transfers of funds from this account to another account of the same depositor at the
same institution or withdrawals (payments directly to the depositor) from the account
when such transfers or withdrawals are made by mail, messenger, ATM, or in person
or when such withdrawals are made by telephone (via check mailed to the depositor),
regardless of the number of such transfers or withdrawals;

5. deposits or accounts maintained in connection with an arrangement that permits the
depositor to obtain credit directly or indirectly through the drawing of a negotiable or
nonnegotiable check, draft, order or instruction, or other similar device (including
telephone or electronic order or instruction) on the issuing reporting institution that can
be used for the purpose of making payments or transfers to third parties or others or to a
deposit account of the depositor;
6. all deposits other than time deposit and savings deposit accounts (including share
certificates and share accounts), including those accounts that are time and savings
deposits in form but that the Federal Reserve Board has determined, by rule or order, to
be transaction accounts; and

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7. interest or dividends paid by crediting a transaction account.
Transaction accounts do not include
1. savings deposits (including share accounts and accounts commonly known as money
market deposit accounts (MMDAs)). Please note, however, that an account that
otherwise meets the definition of a savings deposit but that authorizes or permits the
depositor to exceed the withdrawal or transfer limitations specified for that account is a
transaction account (see item C.1, Total Savings Deposits);
2. time deposit accounts or share certificates; and
3. primary obligations maturing in less than seven days if they take the form of ineligible
acceptances or of obligations issued by the reporting institution’s affiliates described in
section 1, subsection G.3. These primary obligations should be reported in item AA.1.

Summary of Transaction Account Classifications
A. Always regarded as transaction accounts
1. demand deposits;
2. share draft accounts;
3. accounts (other than savings deposits, including share accounts) from which payments
may be made to third parties by means of an ATM,an RSU, or other electronic device,
including by debit card;
4. accounts (other than savings deposits, including share accounts) that permit third-party
payments through use of checks, drafts, negotiable instruments, or other similar
instruments;
5. accounts that are time or savings deposits (including share accounts) in form but that the
Federal Reserve Board has determined, by rule or order, to be transaction accounts; and
6. ATS accounts.
B. Deposits or accounts that are regarded as transaction accounts if the following specified
conditions exist:
1. accounts (including share accounts) that otherwise meet the definition of savings deposits
but that authorize or permit the depositor to exceed the transfer and withdrawal rules for a
savings deposit (including share accounts);

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2. any deposit or account that otherwise meets the definition of a time deposit but that
allows withdrawals within the first six days after the date of deposit and that does not
require an early withdrawal penalty of at least seven days’ simple interest on amounts
withdrawn within those first six days, unless the deposit or account meets the definition
of a savings deposit. Any such deposit or account that meets the definition of a savings
deposit shall be reported as a savings deposit (including share accounts). Otherwise, the
deposit or account shall be reported as a demand deposit in item A.1.a or item A.1.c; and
3. the remaining balance of a time deposit (including share certificates) from which a partial
early withdrawal has been made, unless the remaining balance either (a) is subject to
additional early withdrawal penalties of at least seven days’ simple interest on amounts
withdrawn within six days after each partial withdrawal (in which case the deposit or
account continues to be reported as a time deposit) or (b) is placed in an account that
meets the definition of a savings deposit (in which case the deposit or account shall be
reported as a savings deposit or a share account). Otherwise, the deposit or account shall
be reported as a demand deposit in item A.1.a or item A.1.c.
C. Not regarded as transaction accounts (unless specified above)
1. savings deposits (including share accounts) (including MMDAs);
2. accounts that permit telephone or preauthorized transfers or transfers by ATMs or RSUs
to repay loans made or serviced by the reporting institution;
3. accounts that permit telephone or preauthorized withdrawals where the proceeds are to be
mailed to or picked up by the depositor;
4. accounts that permit transfers to other accounts of the depositor at the reporting
institution through ATMs or RSUs; and
5. time deposits or share certificates.

Demand Deposits (Items A.1.a through A.1.c)
For items A.1.a through A.1.c of the FR 2900 report, demand deposits include deposits described
in section 1, subsection G.1, and primary obligations described in section 1, subsection G.2, that
are payable immediately on demand, or that are issued with an original maturity or required
notice period of less than seven days, or that represent funds for which the reporting institution
does not reserve the right to require at least seven days’ written notice of an intended withdrawal.
Include in items A.1.a through A.1.c
1. all checking accounts, including those pledged as collateral for loans or maintained as
compensating balances. However, do not include share draft accounts, which are
reported in item A.2;

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2. cashier’s checks, certified checks, teller’s checks, and other officer’s checks issued for
any purpose, including those issued in payment for services, dividends, or purchases that
are drawn on by any of the reporting institution’s duly authorized officers and that are
outstanding on the report date. These checks include
A. those drawn by the reporting institution on itself and not payable at or through
another depository institution;
B. those drawn by the reporting institution and drawn on, or payable at or through,
another depository institution on a zero balance account or an account that is not
routinely maintained with sufficient balances to cover checks drawn in the normal
course of business (including accounts where funds are remitted by the reporting
institution only when it has been advised that the checks or drafts have been
presented).
Those checks drawn by the reporting institution on a deposit account at another
depository institution that the reporting institution routinely maintains with sufficient
balances to cover checks or drafts drawn in the normal course of business should be
excluded from items A.1.a through A.1.c, Demand Deposits, and recorded directly as
a reduction in item B.1, Demand Balances Due from Depository Institutions in the
U.S.;
C. those checks drawn by the reporting institution on, or payable at or through, a Federal
Reserve Bank or a Federal Home Loan Bank;
3. funds received or held in connection with traveler’s checks and teller’s checks sold (but
not drawn) by the reporting institution, until the proceeds of the sale are remitted to
another party. Also includes other funds received or held in connection with any other
checks used (but not drawn) by the reporting institution, until the amount of the checks is
remitted to another party;
4. money orders issued for any purpose (including those issued in payment for services,
dividends, or purchases) that are drawn on the reporting institution and are outstanding on
the report date should be reported as deposits. In addition, funds received or held for
money orders sold, but not drawn on the reporting institution, should be included as
deposits until the proceeds of the sale are remitted to another party;
5. funds received or held in connection with letters of credit sold to customers, including
funds credited to cash collateral accounts and similar accounts;
6. unposted credits and suspense accounts;
7. withheld taxes, withheld insurance premiums, and other funds withheld from salaries of
the reporting institution’s employees. Also include taxes withheld from distributions or
payments from pensions, annuities, and other deferred income, including individual
retirement accounts (IRAs);

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8. funds received or held in escrow accounts that may be withdrawn on demand or within
six days from the date of deposit, except escrow funds that meet the definition of savings
deposits or time deposits (see section 1, subsection J, Treatment of Escrow Funds);
9. an obligation to pay on demand or within six days a check or share draft (or other
instrument, device, or arrangement for the transfer of funds) drawn on the reporting
institution, when the depositor’s account already has been debited;
10. checks or drafts drawn by, or on behalf of, a non-U.S. office of the reporting institution
on an account maintained at any of the reporting institution’s U.S. offices;
11. demand deposit accounts at non-U.S. offices of the reporting institution that are
guaranteed payable in the United States or when the depositor is guaranteed payment at a
U.S. office;
12. for any depositor that is not eligible to hold a share draft account, accounts that otherwise
meet the definition of savings deposits but under the terms of which, or by practice of the
reporting institution, the depositor is authorized or permitted to exceed the withdrawal or
transfer limitations specified for savings deposits, including share accounts see item C.1,
Total Savings Deposits);
13. any deposit or account that otherwise meets the definition of a time deposit but that
allows withdrawals within the first six days after the date of deposit and that does not
require an early withdrawal penalty of at least seven days’ simple interest on amounts
withdrawn within the first six days, unless the deposit or account meets the definition of a
savings deposit or share account. Any such deposit or account that meets the definition
of a savings deposit or share account shall be reported as a savings deposit. Otherwise,
the deposit or account shall be reported as a demand deposit in item A.1.a or item A.1.c;
14. the remaining balance of a time deposit (including share certificates) from which a partial
early withdrawal has been made, unless the remaining balance either (a) is subject to
additional early withdrawal penalties of at least seven days’ simple interest on amounts
withdrawn within six days after each partial withdrawal (in which case the deposit or
account continues to be reported as a time deposit) or (b) is placed in an account that
meets the definition of a savings deposit (in which case the deposit or account shall be
reported as a savings deposit). Otherwise, the deposit or account shall be reported as a
demand deposit in item A.1.a or item A.1.c;
15. all matured time certificates of deposit (including share certificates), even if interest is
paid after maturity, except matured time certificates of deposit during the grace period
after maturity, if such a grace period exists. (See 12 CFR § 329.104.)
Excludes matured time certificates of deposits (including share certificates) and proceeds
from time deposits or time deposit open accounts, wherein the deposit agreement
specifically provides for the funds to be transferred to an account type other than a
demand deposit in item A.1.a or item A.1.c;

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16. the institution’s liability on primary obligations described in section 1, subsections G.2.a,
c, d, e, and f, that are issued by the reporting institution to non-exempt entities in original
maturities of less than seven days;
17. due bills described in section 1, subsection G.2.i, that are issued by the reporting
institution in original maturities of less than seven days and that are not collateralized
within three business days by similar securities;
18. credit balances;
19. any funds received by the reporting institution’s affiliate and later channeled to the
reporting institution by the affiliate in the form of a demand deposit in item A.1.a or item
A.1.c; and
20. funds received as a result of payment errors. (See section 1, subsection K, Treatment of
Payment Errors.)
Exclude from demand deposits in either item A.1.a or item A.1.c, the following categories of
liabilities even if they have an original maturity of less than seven days:
1. savings deposits or share accounts (including MMDAs);
2. hypothecated deposits. Please note that for purposes of the FR 2900 report, hypothecated
deposits do not include shares or deposits simply serving as collateral for loans;
3. funds received and credited to dealer reserve or dealer differential accounts that the
reporting institution is not obligated to make available to either the dealer or the dealer’s
creditors;
4. checks or drafts drawn by the reporting institution on a deposit account at another
depository institution that the reporting institution routinely maintains with sufficient
balances to cover checks or drafts drawn in the normal course of business (see item B.1,
Demand Balances Due from Depository Institutions in the U.S.);
5. repurchase agreements involving
A. obligations of, or obligations fully guaranteed as to principal and interest by, the U.S.
government or a federal agency; or
B. the shares of a money market mutual fund whose portfolio consists wholly of
obligations of, or obligations fully guaranteed as to principal and interest by, the U.S.
government or a federal agency;

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6. due bills, issued to any entity, that are collateralized within three business days by
securities similar to the securities purchased (see section 1, subsection G.2.i, Primary
Obligations);
7. any primary obligation issued or undertaken as a means of obtaining funds (except for
due bills that are not collateralized within three business days by a similar security),
regardless of the use of the proceeds, when transacted with the U.S. office of the
following exempt entities:
A. U.S. commercial banks and trust companies and their majority-owned subsidiaries;
B. U.S. branches or agencies of a bank organized under foreign (non-U.S.) law
(including U.S. branches and agencies of foreign official banking institutions);
C. banking Edge Act and agreement corporations;
D. mutual and stock savings banks;
E. building or savings and loan associations, and homestead associations;
F. cooperative banks;
G. industrial banks;
H. credit unions (including corporate central credit unions);
I. the U.S. government and its agencies and instrumentalities, such as the National
Credit Union Administration (NCUA) Central Liquidity Facility, National Credit
Union Share Insurance Fund, Federal Home Loan Banks, Federal Intermediate Credit
Banks, Federal Land Banks, Banks for Cooperatives, the Federal Home Loan
Mortgage Corporation, Federal Deposit Insurance Corporation, Federal National
Mortgage Association, and Federal Financing Bank;
J. Export-Import Bank of the United States;
K. Government Development Bank of Puerto Rico;
L. Minbanc Capital Corporation;
M. securities dealers, but only when the borrowing (1) has a maturity of one day, (2) is in
immediately available funds, and (3) is in connection with the clearance of securities;
N. the U.S. Treasury;

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O. New York State investment companies (chartered under Article XII of the New York
State Banking Code) that perform a banking business and that are majority owned by
one or more non-U.S. banks; and
P. an investment company or trust whose entire beneficial interest is held exclusively by
one or more depository institutions;
8. funds obtained from state and municipal housing authorities under loan-to-lender
programs involving the issuance of tax-exempt bonds and the subsequent lending of the
proceeds to the reporting institution for housing finance purposes;
9. borrowings from a Federal Reserve Bank;
10. amounts of outstanding bankers’ acceptances that are created by the reporting institution
and that are of the type that are ineligible for discount at Federal Reserve Banks (see
section 1, subsection G.3, Primary Obligations). These transactions are reported in
schedule AA or BB;
11. certain obligations issued by the reporting institution’s nondepository affiliates (see
section 1, subsection G.3, Primary Obligations). These transactions are reported in
schedule AA or BB;
12. shares of the credit union held by the National Credit Union Administration (NCUA) or
the NCUA Central Liquidity Facility; and
13. overdrafts. (See section 1, subsection D.9, Overdrafts or Negative Balances.)

Demand Deposits Due to Depository Institutions (Item A.1.a)
Include in item A.1.a the balance of all demand deposits in the form of deposits that are due to
1. U.S. offices of the following institutions
A. U.S. commercial banks (including affiliates of the reporting institution that engage in
a commercial banking business and private banks) and trust companies conducting a
commercial banking business;
B. industrial banks;
C. bankers’ banks that are organized as commercial banks;
D. branches and agencies of foreign (non-U.S.) banks (including branches and agencies
of foreign official banking institutions);
E. banking Edge Act and agreement corporations; and

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F. New York State investment companies (chartered under Article XII of the New York
State Banking Code) that perform a banking business and that are majority owned by
one or more non-U.S. banks;
2. non-U.S. offices of
A. other U.S. banks and banking Edge Act and agreement corporations (that is, other
than the reporting institution’s own non-U.S. offices); and
B. commercial banks, merchant banks, discount houses, and similar banking institutions
(including banking affiliates of the reporting institution or its parent) organized under
the laws of a foreign country, Puerto Rico, Guam, American Samoa, or the Virgin
Islands, or other territories of the United States;
3. mutual or stock savings banks (including those that are bankers’ banks);
4. building or savings and loan associations, homestead associations, and cooperative banks
(including those that are bankers’ banks); and
5. credit unions (including corporate central credit unions).
Also include in this item balances subject to immediate withdrawal that are due to a respondent
institution and that have not been passed through to the Federal Reserve by the reporting
institution to satisfy a reserve requirement.
Also include in item A.1.a any deposit or account that otherwise meets the definition of a time
deposit but that allows withdrawals within the first six days after the date of deposit and that
does not require an early withdrawal penalty of at least seven days’ simple interest on amounts
withdrawn within those first six days, unless the deposit or account meets the definition of a
savings deposit. Any such deposit or account that meets the definition of a savings deposit shall
be reported as a savings deposit. Otherwise, the deposit or account shall be reported in this item
or in item A.1.c.
Also include the remaining balance of a time deposit (including share certificates) from which a
partial early withdrawal has been made unless the remaining balance either (a) is subject to
additional early withdrawal penalties of at least seven days’ simple interest on amounts
withdrawn within six days after each partial withdrawal (in which case the deposit or account
continues to be reported as a time deposit) or (b) is placed in an account that meets the definition
of a savings deposit (in which case the deposit or account shall be reported as a savings deposit).
Otherwise, the deposit or account shall be reported in this item or in item A.1.c. Include in this
item those accounts issued by the reporting institution to the depository institutions listed in 1
through 5 above that otherwise meet the definition of savings deposits but under the terms of
which, or by practice of the reporting institution, the depositor is authorized or permitted to
exceed the withdrawal or transfer limitations specified for that account. (See item C.1, Total
Savings Deposits.)

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Also include in this item all due bills that are issued by the reporting institution to U.S. offices of
those institutions listed in 1, 3, 4, and 5 above in original maturities of less than seven days and
that are not collateralized within three business days by similar securities. Except for such due
bills, all other primary obligations should be excluded from item A.1.a.
Reciprocal Balances: All demand balances, except for due bills, due to an institution that is
listed in 1.A through 1.E above may be reported net of balances due from those institutions (see
calculations of net reciprocal balances below).
All demand balances in the form of due bills issued to the U.S. offices of the institutions listed in
1, 3, 4, and 5 above and all other demand balances due to the institutions listed in 1.F, 2, 3, 4,
and 5 above shall be reported on a gross basis.
Calculation of net reciprocal balances (an example):
A. “Due to” Banks
Bank A
Bank B
Bank C

“Due from” Banks
$200,000
$500,000
$1,700,000

$1,000,000
$300,000
$2,500,000

B. Net “Due to” Banks
Bank A
Bank B
Bank C

Net “Due from” Banks

0
$200,000
0

$800,000
0
$800,000

C. Sum of Net Reciprocal Balances
“Due to” Banks

“Due from” Banks

$200,000

$1,600,000

(Report in item A.1.a)

(Report in item B.1)

Exclude from item A.1.a
1. demand deposits due to
A. respondent institutions to the extent that such deposits represent balances that the
reporting institution, serving as pass-through agent or correspondent, has passed
through to the Federal Reserve Bank to satisfy reserve requirements;
B. institutions to the extent that such deposits are placed by the reporting institution as
agent into an excess balance account at the Federal Reserve Bank;
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C. nondepository and limited purpose trust companies (report in item A.1.c, Other
Demand Deposits);
D. trust departments of the reporting institution and of other depository institutions
(report in item A.1.c, Other Demand Deposits);
E. nondepository affiliates of the reporting institution and of other depository institutions
(report in item A.1.c, Other Demand Deposits);
F. the U.S. government (report in item A.1.b, U.S. Government Demand Deposits) and
its agencies and instrumentalities (report in item A.1.c, Other Demand Deposits),
including the NCUA Central Liquidity Facility, National Credit Union Share
Insurance Fund, Federal Home Loan Banks, Federal Intermediate Credit Banks,
Federal Land Banks, Banks for Cooperatives, the Federal Home Loan Mortgage
Corporation, Federal Deposit Insurance Corporation, Federal National Mortgage
Association, Federal Financing Bank, and Export Import Bank of the United States;
and
G. foreign (non-U.S.) official banking institutions (report in item A.1.c, Other Demand
Deposits);
2. a demand deposit due to a depository institution that is negative (that is, overdrawn). The
amount of such negative balance should be regarded as zero when computing the deposit
total (see section 1, subsection D.9, Overdrafts or Negative Balances);
3. any negative “due from” balance that results when an account at another depository
institution that the reporting institution routinely maintains with sufficient balances to
cover checks or drafts drawn in the normal course of business becomes overdrawn;
negative balances that result from such occasional overdrafts are regarded as borrowings
by the reporting institution and should not be included on the FR 2900 report;
4. cashier’s checks, certified checks, teller’s checks, and other officer’s checks or any other
instrument drawn by the reporting institution (report in item A.1.c, Other Demand
Deposits);
5. all primary obligations (including due bills) issued to non-U.S. offices of U.S. depository
institutions and of non-U.S. banks (include in calculation of item CC.1, Net Eurocurrency
Liabilities); and
6. except for those due bills noted earlier for inclusion, all other primary obligations that are
issued to U.S. offices of depository institutions are excluded from item A.l.a and from the
FR 2900 report. Such obligations include, but are not limited to, federal funds
transactions and repurchase agreements with U.S. offices of depository institutions.

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September 2012

U.S. Government Demand Deposits (Item A.1.b)
Include in item A.1.b the balance of all demand deposit accounts in the form of deposits that are
designated as federal public funds, such as
1. U.S. Treasury general accounts and special collection accounts;
2. postmaster’s demand deposit accounts;
3. demand deposit accounts of the following:
A. the Tennessee Valley Authority and other government-owned corporations; and
B. disbursing officers of the Department of Defense and Department of the Treasury;
4. demand deposit accounts of other public funds that are subject to control or regulation by
the U.S. government, including U.S. Customs and Border Protection, accounts of military
organizations (such as post exchanges and military clubs), and similar entities.
Please note that for item A.1.b, demand deposits include only deposits held for the credit of the
U.S. government and exclude all primary obligations to the U.S. government. Such primary
obligations are exempt from reserve requirements.
Exclude from item A.1.b
1. demand deposits due to U.S. government agencies and instrumentalities (report in item
A.1.c, Other Demand Deposits), including the National Credit Union Share Insurance
Fund, NCUA Central Liquidity Facility, Federal Home Loan Banks, Federal Intermediate
Credit Banks, Federal Land Banks, Banks for Cooperatives, the Federal Home Loan
Mortgage Corporation, Federal Deposit Insurance Corporation, Federal National
Mortgage Association, Federal Financing Bank, and Export-Import Bank of the United
States;
2. demand deposits held for state or local governments or their political subdivisions (report
in item A.1.c); and
3. primary obligations.

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Other Demand Deposits (Item A.1.c)
Include in item A.1.c the balance of all other demand deposits in the form of deposits and
primary obligations, such as
1. demand deposits in the form of deposits held for
A. individuals, partnerships, and corporations, wherever located;
B. states and local governments and their political subdivisions;
C. U.S. government agencies and instrumentalities, including the National Credit Union
Share Insurance Fund, NCUA Central Liquidity Facility, Federal Home Loan Banks,
Federal Intermediate Credit Banks, Federal Land Banks, Banks for Cooperatives, the
Federal Home Loan Mortgage Corporation, Federal Deposit Insurance Corporation,
Federal National Mortgage Association, Federal Financing Bank, and Export Import
Bank of the United States;
D. nondepository and limited purpose trust companies;
E. trust departments of the reporting institution and of other institutions (see section 1,
subsection I, Treatment of Trust Funds);
F. nondepository affiliates of the reporting institution and of other depository
institutions;
G. foreign (non-U.S.) governments (including foreign official banking institutions), both
national and regional, and international institutions; and
H. holding companies;
2. withheld state and local government taxes, insurance premiums, and similar items (but
not withheld federal income tax payments, which are reported in item A.1.b, Demand
Deposits of the U.S. Government);
3. cashier’s checks, certified checks, teller’s checks, and other officer’s checks issued for
any purpose, including those issued in payment for services, dividends, or purchases that
are drawn by any of the reporting institution’s duly authorized officers and that are
outstanding on the report date. These checks include
A. those drawn by the reporting institution on itself and not payable at or through
another depository institution;
B. those drawn by the reporting institution and drawn on, or payable at or through,
another depository institution on a zero-balance account or an account that is not
routinely maintained with sufficient balances to cover checks drawn in the normal

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September 2012

course of business (including accounts where funds are remitted by the reporting
institution only when it has been advised that the checks or drafts have been
presented).
Those checks drawn by the reporting institution on a deposit account at another
depository institution that the reporting institution routinely maintains with sufficient
balances to cover checks or drafts drawn in the normal course of business should be
excluded from item A.1.a and item A.1.c, Demand Deposits, and recorded directly as
a reduction in item B.1, Demand Balances Due from Depository Institutions in the
U.S.;
C. those checks drawn by the reporting institution on, or payable at or through, a Federal
Reserve Bank or a Federal Home Loan Bank;
4. funds received or held in connection with traveler’s checks and teller’s checks sold (but
not drawn) by the reporting institution, until the proceeds of the sale are remitted to
another party. Also included are other funds received or held in connection with any
other checks used (but not drawn) by the reporting institution, until the amount of the
checks is remitted to another party;
5. money orders issued for any purpose (including those issued in payment for services,
dividends, or purchases) that are drawn on the reporting institution and are outstanding on
the report date should be reported as deposits. In addition, funds received or held for
money orders sold, but not drawn, by the reporting institution should be included as
deposits until the proceeds of the sale are remitted to another party;
6. unposted credits and suspense accounts;
7. funds received in connection with letters of credit issued to customers, including funds
credited to cash collateral accounts or similar accounts;
8. funds deposited to the credit of the reporting institution’s own trust department, where the
funds involved are utilized to cover checks or drafts;
9. funds received or held in escrow accounts that may be withdrawn on demand or within
six days from the date of deposit, except escrow funds held as savings deposits, including
share accounts, or time deposits, including share certificates (see section 1, subsection J,
Treatment of Escrow Funds);
10. deposits subject to payment orders of withdrawal (POWs);
11. for any depositor listed in 1.A through 1.H above that is not eligible to hold a share draft
account, accounts that otherwise meet the definition of savings deposits but under the
terms of which, or by practice of the reporting institution, the depositor is authorized or
permitted to exceed the withdrawal or transfer limitations specified for that account (see
item C.1, Total Savings Deposits);

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12. any deposit or account that otherwise meets the definition of a time deposit but that
allows withdrawals within the first six days after the date of deposit and that does not
require an early withdrawal penalty of at least seven days’ simple interest on amounts
withdrawn within those first six days, unless the deposit or account meets the definition
of a savings deposit or share account. Any such deposit or account that meets the
definition of a savings deposit or share account shall be reported as a savings deposit.
Otherwise, the deposit or account shall be reported in this item or in item A.1.a;
13. the remaining balance of a time deposit (including share certificates) from which a partial
early withdrawal has been made, unless the remaining balance either (a) is subject to
additional early withdrawal penalties of at least seven days’ simple interest on amounts
withdrawn within six days after each partial withdrawal (in which case the deposit or
account continues to be reported as a time deposit) or (b) is placed in an account that
meets the definition of a savings deposit or share account (in which case the deposit or
account shall be reported as a savings deposit or share account). Otherwise, the deposit
or account shall be reported in this item or in item A.1.a;
14. all matured time certificates of deposit (including share certificates), even if interest is
paid after maturity, except matured time certificates of deposit during the grace period
after maturity, if such a grace period exists. (See 12 CFR § 329.104.)
Excludes matured time certificates of deposit (including share certificates) and proceeds
from time deposits (including share certificates) or time deposit open accounts, wherein
the deposit agreement specifically provides for the funds to be transferred to an account
type other than a demand deposit;
15. due bills that remain uncollateralized by similar securities for more than three business
days and that are issued by the reporting institution in maturities of less than seven days
to the entities listed in 1.A through 1.H above; and
16. primary obligations (other than due bills as discussed immediately above) issued to nonexempt entities, except
A. amounts of outstanding bankers’ acceptances that are created by the reporting
institution and that are of the type that are ineligible for discount at Federal Reserve
Banks (see section 1, subsection G.3, Primary Obligations). These transactions are
reported in item AA.1 or BB.2;
B. certain obligations issued by the reporting institution’s nondepository affiliates (see
section 1, subsection G.3, Primary Obligations). These transactions are reported in
item AA.1 or BB.2.
Please note that all primary obligations issued to foreign national governments, foreign official
banking institutions, international institutions, and non-U.S. branches of U.S. depository
institutions and non-U.S. branches and agencies and head offices of non-U.S. depository

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September 2012

institutions are excluded from this item and should be included in the calculation of item CC.1,
Net Eurocurrency Liabilities.
Primary obligations having a maturity of less than seven days issued to a non-U.S. parent bank’s
holding company if the holding company is not a depository institution, a nonbanking subsidiary
of such a holding company, a nonbanking subsidiary of a non-U.S. parent depository institution’s
holding company if the holding company is a depository institution, and a non-U.S. parent
bank’s nonbanking subsidiary must be included in this item and excluded from the calculation of
item CC.1, Net Eurocurrency Liabilities.

ATS Accounts, NOW Accounts/Share Drafts, and Telephone and Preauthorized Transfers
(Item A.2)
Report in item A.2 the sum of the balance of all ATS accounts, share draft accounts, and
telephone and preauthorized transfer accounts. These types of accounts continue to have
different characteristics and regulatory distinctions. The definition of each type of account is
provided separately below. Each type of account is referenced separately as appropriate
elsewhere in the instructions.
Please also note that an account that otherwise meets the definition of a savings deposit but that
authorizes or permits the depositor to exceed the withdrawal or transfer limitations specified for
savings deposits is a transaction account. If the depositor is ineligible to hold a share draft
account, the account is considered a demand deposit and shall be reported in item A.1.c, Other
Demand Deposits. If the depositor is eligible to hold a share draft account, the account is
considered either a share draft account, a telephone or preauthorized transfer account, or an ATS
account; all such accounts shall be reported in item A.2.
Include in item A.2
1. ATS accounts, which are deposits or accounts of individuals or sole proprietorships on
which the reporting institution has reserved the right to require at least seven days’
written notice prior to withdrawal or transfer of any funds in the account and from which,
pursuant to written agreement arranged in advance between the reporting institution and
the depositor, withdrawals may be made automatically through payment to the reporting
institution itself or through transfer of credit to a demand deposit or other account to
cover checks or drafts drawn upon the institution or to maintain a specified balance in, or
to make periodic transfers to, such other accounts;
2. Share draft accounts, which represent deposits that may pay dividends (1) that can be
withdrawn upon demand, or on which the reporting institution has reserved the right to
require at least seven days’ written notice prior to withdrawal or transfer of any funds in
the account and (2) that can be withdrawn or transferred to third parties by issuance of a
negotiable or transferable instrument or other order such as a share draft. Share draft
accounts are authorized by federal law and are limited to accounts in which the entire
beneficial interest is held by

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September 2012

A. one or more individuals or members;
B. governmental units, including the federal government and its agencies and
instrumentalities; state governments; county and municipal governments and their
political subdivisions; the District of Columbia; and the Commonwealth of Puerto
Rico, American Somoa, Guam, and any territory or possession of the United States
and their political subdivisions; or
See section 205(f)(2) of the Federal Credit Union Act (12 U.S.C. §1785(f)(2)).
C. nonprofit organizations (under Federal Reserve Board rules) operated primarily for
the following purposes:
1.
2.
3.
4.
5.
6.

religious;
philanthropic;
charitable;
educational;
political; or
other similar purposes.

These include organizations, partnerships, corporations, or associations that are not
organized for profit and are described in section 501(c)(3) through (13) and (19) and
section 528 of the Internal Revenue Code (26 U.S.C. (I.R.C. 1954) §501(c)(3)
through (13), (19) and §527 through §528), such as church organizations;
professional associations; trade associations; labor unions; fraternities, sororities, and
other similar social organizations; and nonprofit recreational clubs;
3. telephone and preauthorized transfer accounts, which are deposits or accounts, other than
savings deposits (including share accounts),
A. in which the entire beneficial interest is held by a party eligible to hold a share draft
account;
B. on which the reporting institution has reserved the right to require at least seven days’
written notice prior to withdrawal or transfer of any funds in the account, and under
the terms of which, or by practice of the reporting institution, the depositor is
permitted or authorized to make more than six withdrawals per month or statement
cycle (or similar period of at least four weeks) for purposes of transferring funds to
another account of the depositor at the same institution (including a transaction
account) or of making payment to a third party by means of preauthorized transfer or
a telephonic (including data transmission) agreement, order, or instruction; and
C. in which the balances of deposits or accounts that otherwise meet the definition of
time deposits allow payments to be made to third parties by means of debit card

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September 2012

(including point of sale (POS) debits), an ATM, RSU, or other electronic device,
regardless of the number of payments made.

Total Transaction Accounts (Item A.3)
Report in this item the sum of items A.1.a, A.1.b, A.1.c, and A.2.

Deductions from Transaction Accounts (Items B.1 and B.2)

Demand Balances Due from Depository Institutions in the U.S. (Item B.1)
Report in this item all balances that are due from U.S. offices of banks or other depository
institutions and that are subject to immediate withdrawal by the reporting institution. Exclude
balances that are subject to deferred availability or funds that have been swept into other
investments (for example, sweep accounts and other cash management arrangements). Balances
to be reported must be the amount reflected on the reporting institution’s books rather than the
amount on the books of the other depository institution(s).
Include in item B.1 all deposit balances of the reporting institution subject to immediate
withdrawal (excluding primary obligations) and due from U.S. offices of the following
institutions:
1. U.S. commercial banks and trust companies conducting a commercial banking business;
2. depository institutions that are defined in 12 CFR § 204.12l as bankers’ banks;
3. banking Edge Act and agreement corporations. For banking Edge Act and agreement
corporations, report all demand balances due from depository institutions in the United
States (including affiliated U.S. depository institutions) and all demand balances due
from the domestic parent bank (unless the reporting institution’s parent is a banking Edge
Act and agreement corporation). Exclude from item B.1 all demand balances due from
the reporting institution’s non-U.S. parent bank or offices of the same Edge Act and
agreement corporation;
4. industrial banks;
5. U.S. branches and agencies of foreign (non-U.S.) banks (including U.S. branches and
agencies of foreign official banking institutions);
6. mutual and stock savings banks;
7. building or savings and loan associations, homestead associations, and cooperative banks;
and

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8. credit unions (including corporate central credit unions).
In general, all deposit accounts having a negative balance as of the close of business each day
should be regarded as having a zero balance. (See section 1, subsection D.9, Overdrafts or
Negative Balances.)
Also include in this item balances subject to immediate withdrawal that are due from a
correspondent institution and that have not been passed through to the Federal Reserve by the
correspondent institution to satisfy reserve requirements.
Reciprocal Balances: Reciprocal demand balances with the institutions listed in 1 through 5
above may be reported either on a net-by-institution basis or on a gross basis. Those institutions
reporting reciprocal demand balances on a net basis should see the sample calculation provided
earlier in the instructions for report item A.1.a, Demand Deposits Due to Depository Institutions.
All demand balances with the institutions listed in 6 through 8 above should be reported gross of
balances “due to” those institutions.
Exclude from item B.1
1. all balances due from Federal Reserve Banks, including
A. balances held directly with the Federal Reserve Bank, including those in an excess
balance account;
B. reserve balances that were passed through to the Federal Reserve Bank by a
correspondent institution to satisfy reserve requirements;
C. reserve balances of another institution for which the reporting institution is serving
under a pass-through agreement (acting as a correspondent institution) and that were
passed through to the Federal Reserve Bank; and
D. balances of another depository institution held in an excess balance account for which
the reporting institution is acting as agent;
2. demand deposit balances that are due from the NCUA Central Liquidity Facility or a
Federal Home Loan Bank;
3. demand deposit balances due from other depository institutions that are pledged or
encumbered and are not available for immediate withdrawal;
4. time and savings deposit balances (including share certificates and share accounts) held at
other depository institutions;
5. cash items in process of collection (report in item B.2);

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6. federal funds sold to other depository institutions;
7. any deposit account due to a correspondent institution or other depository institution that
is overdrawn, or amounts that, if charged against a correspondent’s account by the
respondent institution, would result in an overdraft in that account. These are loans and
are excluded from the FR 2900 report;
8. any deposit account due from a correspondent institution or other depository institution
that is negative (that is, overdrawn). The amount of such negative balances should be
regarded as zero when computing the deposit total;
9. balances that are due from
A. any non-U.S. office of any U.S. depository institution;
B. any non-U.S. office of any non-U.S. bank;
C. trust companies that do not conduct a commercial banking business;
D. New York State investment companies (chartered under Article XII of the New York
State Banking Code); and
E. private banks;
10. payment errors (see section 1, subsection K, Treatment of Payment Errors); and
11. a demand deposit account on which a corporate central credit union requires written
notice before an intended withdrawal is made, regardless of whether or not the corporate
central credit union actually exercises this right and regardless of how the reporting
institution uses the account.

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Cash Items in Process of Collection (Item B.2)
Cash items in the process of collection consist primarily of the reporting institution’s checks or
drafts, deposited by its customers (including other depository institutions), that have been sent
for collection through another entity for which settlement has not occurred and the funds are not
immediately available.
Funds for which the reporting institution is given immediate credit (that is, the funds are
available for withdrawal by close of business), even if settlement has not occurred, should be
excluded from this item. These funds may be included in item B.1 if the availability and form
meet the criteria outlined in item B.1.
Include in item B.2
1. checks or drafts in process of collection that are drawn on another depository institution,
deposited at the reporting institution, that are payable immediately upon presentation in
the United States, that have been posted to the general ledger, and for which credit has
already been given to the depositor’s account;
2. checks or share drafts on hand that will be presented for payment or forwarded for
collection on the following business day and that have been posted to the general ledger.
These include cash items that were not forwarded the day of their deposit for reasons
such as inclement weather, transportation difficulties, or natural disasters;
3. checks or drafts drawn on the Treasury of the United States that are in process of
collection;
4. other items in process of collection that are payable immediately upon presentation in the
United States and that are customarily cleared or collected by depository institutions as
cash items, such as
A. matured bonds and coupons (including bonds and coupons that have been called and
are payable on presentation). U.S. savings bonds that are cashed by the customer
before maturity are included as cash items in the process of collection;
B. postal and other money orders and traveler’s checks being forwarded for collection;
C. share drafts;
D. bank drafts and Federal Reserve drafts;
E. payable-through drafts that have been received by the reporting institution and that
will be forwarded to (deposited at) another depository institution for collection;
F. brokers’ security drafts and commodity or bill of lading drafts (including arrival
drafts) that are payable immediately upon presentation in the United States;

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G. amounts credited to deposit accounts in connection with automated payment
arrangements where such credits are made one business day prior to the scheduled
payment date to ensure that funds are available on the payment date;
H. returned items drawn on other depository institutions;
I. unposted debits; and
J. food coupons and certificates.
Exclude from item B.2
1. items handled as noncash items, 5 whether or not cleared through Federal Reserve Banks;
2. items not payable in the United States;
3. items that have been settled when the reporting institution has received immediately
available funds. These funds may be included in item B.1, Demand Balances Due from
Depository Institutions in the U.S., if they remain in a demand deposit account at the
close of business;
4. commodity or bill of lading drafts (including arrival drafts) not yet payable (because the
merchandise against which the draft was drawn has not yet arrived), whether or not
deposit credit has been given;
5. payable-through drafts received by the reporting institution, when the reporting
institution is acting in the capacity of a clearing agent for a nondepository institution, that
have not been collected from that nondepository institution which is the drawer of the
draft;
6. credit card or debit slips in process of collection, whether or not deposit credit has been
given;
7. checks or drafts in the process of collection until the check or draft is credited to a deposit
or the reporting institution’s general ledger;
8. payment errors (see section 1, subsection K, Treatment of Payment Errors); and
9. returned items drawn on the reporting institution.

Regulation J of the federal regulations defines a “noncash item” as an item that a receiving Reserve Bank
classifies in its operating circulars as requiring special handling. The term also means an item normally received as
a cash item if a Reserve Bank decides that special conditions require that it handle the item as a noncash item.

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Total Savings Deposits (Item C.1)
Report in item C.1 the balance of all savings deposits (including share accounts), as defined
below, both personal and nonpersonal, that are outstanding at the close of business each day.
A savings deposit (including share accounts) is a deposit described in section 1, subsection G.1,
or a primary obligation described in section 1, subsection G.2, with respect to which the
depositor is not required by the deposit contract, but may at any time be required by the reporting
institution, to give written notice of an intended withdrawal not less than seven days before the
withdrawal is made, and that is not payable on a specified date or at the expiration of a specified
time after the date of deposit. 6
The term “savings deposit” (including share accounts) also means a deposit or account, such as
an account commonly known as a passbook savings account, a statement savings account, or a
money market deposit account (MMDA), that otherwise meets the requirements of the preceding
paragraph and from which, under the terms of the deposit contract or by practice of the reporting
institution, the depositor is permitted or authorized to make no more than six transfers and
withdrawals, or a combination of such transfers and withdrawals, per calendar month or
statement cycle (or similar period) of at least four weeks to another account (including a
transaction account) of the depositor at the same institution or to a third party by means of a
preauthorized or automatic transfer; a telephonic (including data transmission) agreement, order,
or instruction; or by check, draft, debit card, or similar order made by the depositor and payable
to third parties.
Please note that transfers from savings deposits (including share accounts) for purposes of
covering overdrafts (overdraft protection plans or bona fide cash management agreements) are
included under the transfer and withdrawal limits specified for savings deposits.
Please also note the following with respect to savings deposits (including share accounts):
1. There are no regulatory restrictions on the following types of transfers or withdrawals
from a savings deposit (including share accounts):
A. transfers for the purpose of repaying loans (other than loans associated with covering
overdrafts in a transaction account) and associated expenses at the same reporting
institution (as originator or servicer);
B. transfers of funds to another account of the same depositor at the same reporting
institution when made by mail, messenger, ATM, or in person; and

When the reporting institution exercises its right to require written notice of an intended withdrawal in connection
with a savings deposit or share account, the deposit continues to be a savings deposit and should not be reclassified
as a time deposit. Where written notice actually is required by the reporting institution and such notice is received
from a depositor, the savings deposit becomes a demand deposit after expiration of the notice period and should be
reported in item A.1.a, A.1.b, or A.1.c, as appropriate.

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C. withdrawals for payment directly to the depositor when made by mail, messenger,
ATM, in person, or by telephone (via check mailed to the depositor).
2. No minimum maturity is required by regulation, but reporting institutions must reserve
the right to require at least seven days’ written notice prior to withdrawal as stipulated
above for a savings deposit (including share accounts).
3. No minimum balance is required by regulation.
4. There is no regulatory limitation on the amount of interest or dividends that may be paid
on a savings deposit (including share accounts).
Any depository institution may place restrictions and requirements on savings deposits
(including share accounts) in addition to those stipulated above and in Regulation D. In the case
of such further restrictions, the account would still be reported as a savings deposit.
However, an account that otherwise meets the definition of a savings deposit but that authorizes
or permits the depositor to exceed the six-transfer/withdrawal rule described above is a
transaction account, as follows:
1. If the depositor is ineligible to hold a share draft account, such an account is considered a
demand deposit and shall be reported in item A.1.a or item A.1.c.
2. If the depositor is eligible to hold a share draft account, the account will be considered
either a share draft account, a telephone or preauthorized transfer, or an ATS account.
For purposes of the FR 2900 report, all such accounts shall be reported in item A.2.
Multiple savings accounts where the reporting institution suggests, or otherwise promotes,
multiple accounts to permit transfers in excess of the limits applicable to individual savings
accounts also are transaction accounts and reported as above.
Include in item C.1
1. accounts commonly known as passbook savings accounts, statement savings accounts,
and MMDAs that meet the above definition of savings deposits;
2. interest-bearing and non-interest-bearing savings deposits or share accounts;
3. savings deposits or share accounts maintained as compensating balances or pledged as
collateral for loans. For purposes of the FR 2900 report, such savings deposits are not
defined as hypothecated deposits;
4. escrow deposits where the reporting institution reserves the right to require at least seven
days’ written notice before payment can be made and that otherwise meet the criteria
contained in the definition of a savings deposit (see section 1, subsection J, Treatment of
Escrow Funds);

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5. interest or dividends paid and credited to savings deposits (including share accounts);
6. savings deposits or share accounts in the form of individual retirement accounts (IRAs)
or Keogh Plan accounts;
7. club accounts, such as Christmas club, vacation club, or other similar club accounts, that
meet the criteria for savings deposits or share accounts;
8. any funds received by the reporting institution’s affiliate and later channeled to the
reporting institution by the affiliate in the form of savings deposits or share accounts;
9. any deposit or account (a) that otherwise meets the definition of a time deposit but that
allows withdrawals within the first six days after the date of deposit and (b) that does not
require an early withdrawal penalty of at least seven days’ simple interest on amounts
withdrawn within those first six days but that is subject to the minimum notice
requirement and withdrawal limitations of a savings deposit (including share accounts).
To meet these criteria, the reporting institution must expressly reserve the right to require
at least seven days’ written notice before an intended withdrawal, and the account must
be subject to the limits on the number and types of transfers specified for savings deposits
(including share accounts) as defined above. Otherwise, such a deposit or account must
be reported in item A.1.a or item A.1.c;
10. the remaining balance of a time deposit (including share certificates) from which a partial
early withdrawal has been made and the remaining balance is not subject to additional
early withdrawal penalties of at least seven days’ simple interest on amounts withdrawn
within six days after each partial withdrawal but that is subject to the minimum notice
requirement and withdrawal limitations of a savings deposit (including share accounts).
To meet these criteria, the reporting institution must expressly reserve the right to require
at least seven days’ written notice before an intended withdrawal, and the account must
be subject to the limits on the number and types of transfers specified for savings deposits
(including share accounts) as defined above. Otherwise, such a remaining balance must
be reported in item A.1.a or item A.1.c;
11. brokered deposits that meet the criteria of savings deposits (including share accounts);
and
12. the reporting institution’s liability on primary obligations described in section 1,
subsections G.2.a, b, d, e, f, and g, that are issued in original maturities of seven days or
more to non-exempt entities that meet the criteria of savings deposits (including share
accounts).
Exclude from item C.1
1. all accounts defined as transaction accounts, including
A. demand deposits (report in item A.1.a, A.1.b, or A.1.c, as appropriate);

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B. telephone or preauthorized transfer accounts that meet the definition of a transaction
account (report in item A.2);
C. POW (payment order of withdrawal) accounts (report in item A.1.c); and
D. share draft accounts and ATS accounts (report in item A.2);
2. any accounts that are savings deposits or share accounts in form but that the Federal
Reserve Board has determined, by rule or order, to be transaction accounts. These
accounts should be reported in the appropriate item of section A, Transaction Accounts;
3. special passbook or statement accounts, such as “ninety-day notice accounts,” “golden
passbook accounts,” or deposits labeled as “savings certificates,” that have a specified
original maturity of seven days or more (report in item D.1);
4. interest accrued on savings deposits or share accounts but not yet paid or credited to a
deposit account;
5. hypothecated deposits. For purposes of the FR 2900 report, hypothecated deposits do not
include deposits serving simply as collateral for loans;
6. funds deposited to the credit of the reporting institution’s own trust department where the
funds involved are utilized to cover checks or drafts. Such funds are reported in item
A.1.c, Other Demand Deposits;
7. amounts of outstanding bankers’ acceptances that are created by the reporting institution
and that are of the type that are ineligible for discount at Federal Reserve Banks. These
transactions are reported in item AA.1 or item BB.2; and
8. certain obligations issued by the reporting institution’s nonconsolidated affiliates. These
transactions are reported in item AA.1 or item BB.2. (See section 1, subsection G.3,
Primary Obligations.)

Procedures for Ensuring That the Permissible Number of Transfers from Savings Deposits
Is Not Exceeded
To ensure that no more than the permitted number of withdrawals or transfers is made for an
account to come within the definition of a savings deposit, a reporting institution must either
1. prevent withdrawals or transfers of funds in this account that are in excess of the limits
established for savings deposits; or
2. adopt procedures to monitor those transfers on an ex post basis and contact customers
who exceed the limits established for the particular account on more than an occasional
basis.

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In applying the limits to withdrawals and transfers per calendar month or statement cycle (or
similar period) of at least four weeks, the reporting institution at its option may use, on a
consistent basis, either the date on the check, draft, or similar item or the date the item is paid.
For customers who continue to violate those limits after being contacted by the reporting
institution, the reporting institution must either close the account and place the funds in another
account that the depositor is eligible to maintain or take away the account’s transfer and draft
capabilities.
An account that authorizes withdrawals or transfers in excess of the permitted number is a
transaction account, regardless of whether the authorized number of transactions is actually
made, and should be classified as follows:
1. If the depositor is ineligible to hold a share draft account, such an account is considered a
demand deposit and shall be reported in item A.1.a or item A.1.c.
2. If the depositor is eligible to hold a share draft account, the account will be considered
either a share draft account, a telephone or preauthorized transfer, or an ATS account.
For purposes of the FR 2900 report, all such accounts shall be reported in item A.2.
Multiple savings accounts (including share accounts) where the reporting institution suggests, or
otherwise promotes, multiple accounts to permit transfers in excess of the limits applicable to
individual savings accounts also are transaction accounts and reported as above.

Total Time Deposits (Item D.1)
Include in item D.1 the balance of all time deposits (including share certificates) in the form of
both deposits and primary obligations that are outstanding at the close of business each day.
Item D.1 covers both personal and nonpersonal time deposits.
Time deposits include deposits (including share certificates and certificates of indebtedness)
described in section 1, subsection G.1, and primary obligations described in section 1, subsection
G.2, from which the depositor does not have a right and is not permitted to make withdrawals
within six days after the date of deposit unless the deposit is subject to an early withdrawal
penalty of at least seven days’ simple interest on amounts withdrawn within the first six days
after deposit. A time deposit (including share certificates) from which partial early withdrawals
are permitted must impose additional early withdrawal penalties of at least seven days’ simple
interest on amounts withdrawn within six days after each partial withdrawal. If early withdrawal
penalties are not imposed, the account ceases to be a time deposit. The account may become a
savings deposit or share account if it meets the requirements for a savings deposit; otherwise, it
becomes a demand deposit.

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Reporting of Deposits Issued on a Discount Basis
Time deposits (including share certificates and certificates of indebtedness) issued on a discount
basis should be reported initially on the basis of the amount of funds actually received by the
reporting institution. For example, if the reporting institution received $96,000 in exchange for a
certificate of deposit issued at face value of $100,000, only the $96,000 received at the time of
issuance should be reported initially as a time deposit. However, as the institution’s obligation to
the depositor increases over the life of the deposit, representing interest earned on the deposit,
the incremental amounts as credited to the certificate also should be reported as time deposits.
Include in item D.1
1. funds that are payable on a specified date not less than seven days after the date of
deposit, or payable at the expiration of a specified time not less than seven days after the
date of deposit, or payable only upon written notice that is actually required to be given
by the depositor not less than seven days prior to withdrawal;
2. time certificates of deposit (including roll-over certificates of deposit) or share certificate
accounts, whether evidenced by negotiable or nonnegotiable instruments;
3. time deposit open accounts or share certificate accounts evidenced by written contracts;
4. club accounts, such as Christmas club, vacation club, or other similar club accounts that
are not maintained as savings deposits (including share accounts), that are deposited
under written contracts providing that no withdrawal shall be made until a certain number
of periodic deposits have been made during a period of not less than three months even
though some of the deposits may be made within six days from the end of the period;
5. savings certificates, notice accounts, and passbook accounts (but not savings deposits or
share accounts);
6. funds received or held in escrow accounts that meet the above criteria for a time deposit,
including a share certificate (also see section 1, subsection J, Treatment of Escrow
Funds);
7. interest-bearing and non-interest-bearing time deposits (including share certificates);
8. individual retirement account (IRA) funds or Keogh Plan accounts held in the form of
time deposits or share certificate accounts;
9. time deposits (including share certificates) held by an employer as part of an unfunded
deferred compensation plan established pursuant to subtitle D of the Revenue Act of
1978 (Pub. L. No. 95-600; 92 Stat. 2763);
10. time deposits or share certificate accounts maintained as compensating balances or
pledged as collateral for loans;

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11. all interest or dividends paid by crediting time deposit or share certificate accounts;
12. certificates of indebtedness;
13. the reporting institution’s liability on primary obligations described in section 1,
subsections G.2.a, b, d, e, f, and g, that are issued in original maturities of seven days or
more to non-exempt entities;
14. due bills described in section 1, subsection G.2.i, that are issued to any U.S. or non-U.S.
entity in original maturities of seven days or more;
15. any funds received by the reporting institution’s affiliate and later channeled to the
reporting institution by the affiliate in the form of a time deposit (including share
certificates);
16. brokered deposits that meet the criteria of time deposits (including share certificates);
17. all matured time certificates of deposits during the 10 day grace period following
maturity, if such a grace period exists (see 12 CFR § 329.104); and
18. deposit notes and bank notes.
Exclude from item D.1 the following categories of liabilities even if they have an original
maturity of seven days or more:
1. any deposit or account that otherwise meets the definition of a time deposit, but allows
withdrawals within the first six days after the date of deposit and that does not require an
early withdrawal penalty of at least seven days’ simple interest on amounts withdrawn
within those first six days. Such deposits or accounts that meet the definition of a savings
deposit shall be reported in item C.1, Total Savings Deposits; otherwise, they shall be
reported as demand deposits in item A.1.a or item A.1.c;
2. the remaining balance of a time deposit (including share certificates) from which a
partial early withdrawal has been made and the remaining balance is not subject to
additional early withdrawal penalties of at least seven days’ simple interest on amounts
withdrawn within six days after each partial withdrawal. Such time deposits that meet the
definition of a savings deposit shall be reported in item C.1, Total Savings Deposits;
otherwise, they shall be reported as demand deposits in item A.1.a or item A.1.c;
3. time deposit or share certificate accounts maintained in connection with an arrangement
that permits the depositor to obtain credit directly or indirectly through the drawing of a
negotiable or nonnegotiable check, draft, order or instruction, or other similar device
(including telephone or electronic order or instruction) on the issuing institution that can
be used for the purpose of making payments or transfers to third parties or a deposit
account of the depositor. Such time deposits that meet the definition of a savings deposit

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shall be reported in item C.1, Total Savings Deposits; otherwise, they shall be reported as
demand deposits in item A.1.a or item A.1.c;
4. any accounts that are time deposits (including share certificates) in form but that the
Federal Reserve Board has determined, by rule or order, to be transaction accounts
(report in items A.1 through A.3, as appropriate);
5. all matured time certificates of deposit, after the grace period following the maturity, if
such a grace period exists;
6. interest or dividends accrued on time deposits (including share certificates) but not yet
paid or credited to a deposit account;
7. share draft accounts and ATS accounts (report in item A.2);
8. telephone or preauthorized transfer accounts that meet the definition of a transaction
account (report in item A.2);
9. savings deposits or share draft accounts (report in item C.1);
10. deposits for which the reporting institution merely reserves the right to require at least
seven days’ written notice of an intended withdrawal;
11. hypothecated deposits. Please note that for purposes of the FR 2900 report, hypothecated
deposits do not include deposits serving simply as collateral for loans;
12. funds received and credited to dealer reserve or dealer differential accounts that the
reporting institution is not obligated to make available to either the dealer or the dealer’s
creditors;
13. funds obtained from state and local housing authorities under loan-to-lender programs
involving the issuance of tax-exempt bonds and the subsequent lending of the proceeds to
the reporting institution for housing finance purposes;
14. repurchase agreements involving obligations of, or obligations fully guaranteed as to
principal and interest by, the U.S. government or a federal agency, or the shares of a
money market mutual fund whose portfolio consists wholly of obligations of, or
obligations fully guaranteed as to principal and interest by, the U.S. government or a
federal agency;
15. borrowings from the NCUA Central Liquidity Facility or the National Credit Union
Share Insurance Fund, or shares held by the NCUA under a statutorily authorized
assistance program;
16. borrowings from a Federal Reserve Bank or a Federal Home Loan Bank;

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17. due bills issued to any entity that are collateralized within three business days by
securities similar to the securities purchased (see section 1, subsection G.2.i, Primary
Obligations);
18. any primary obligation, except for due bills, issued or undertaken to obtain funds,
regardless of the use of the proceeds, when transacted with the U.S. offices of exempt
entities;
19. subordinated notes and debentures;
20. certain obligations issued by the reporting institution’s nondepository affiliates (see
section 1, subsection G.3, Primary Obligations). These transactions are reported in item
BB.2 if nonpersonal; and
21. amounts of outstanding bankers’ acceptances that are created by the reporting institution
and that are of the type that are ineligible for discount at Federal Reserve Banks (see
section 1, subsection G.3, Primary Obligations). These transactions are reported in items
AA.1 and BB.2.

Vault Cash (Item E.1)
Include in item E.1
1. U.S. currency and coin owned by the reporting institution (booked as an asset) and held
at a physical location (including the reporting institution’s proprietary ATMs) of the
reporting institution that may, at any time, be used to satisfy depositors’ claims;
2. U.S. currency and coin in transit to a Federal Reserve Bank for which the reporting
institution has not yet received credit, and in transit from a Federal Reserve Bank when
the reporting institution has already been charged;
3. U.S. currency and coin in transit to a correspondent institution if the reporting
institution’s account at the correspondent institution has not yet been credited, and in
transit from a correspondent institution if the reporting institution’s account at the
correspondent institution has already been charged;
4. U.S. currency and coin held at an alternate physical location (including the reporting
institution’s nonproprietary ATMs) provided that all of the following conditions are
satisfied:
A. The reporting institution at all times retains full rights of ownership in and to the
currency and coin held at the alternate physical location.
B. The reporting institution at all times books the currency and coin held at the alternate
physical location as an asset.

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C. No other depository institution claims the currency and coin held at the alternate
physical location as vault cash that can be used to satisfy its reserve requirements.
D. The currency and coin held at the alternate physical location is reasonably nearby a
location of the reporting institution at which its depositors may make cash
withdrawals. An alternate physical location is considered “reasonably nearby” if the
reporting institution can recall the currency and coin by 10:00 a.m. and, relying solely
on ground transportation, receive the currency and coin no later than 4:00 p.m. on the
same calendar day.
E. The reporting institution has in place a written cash delivery plan, including written
contractual arrangements necessary to implement that plan, that demonstrates that the
currency and coin can be recalled and received at any time in accordance with the
requirements specified in the preceding sub-bullet D. The reporting institution shall
provide copies of the written cash delivery plan and written contractual arrangements
to its local Federal Reserve Bank upon request.
Exclude from item E.1
1. foreign (non-U.S.) currency and coin;
2. silver and gold coin and other currency and coin whose numismatic or bullion value is in
excess of face value;
3. U.S. currency and coin that the reporting institution does not have full and unrestricted
right to use, such as coin collections held for safekeeping for customers, currency and
coin pledged as collateral by the reporting institution or by customers, or currency and
coin sold under a repurchase agreement or purchased under a resale agreement;
4. currency and coin held under the custodial inventory program with the Federal Reserve
for which the reporting institution has received credit;
5. cash shipped by the reporting institution to a Federal Reserve Bank or correspondent
institution for which credit has been given to the reporting institution; and
6. checks, drafts, and cash items in process of collection.

Memorandum Section

All Time Deposits with Balances of $100,000 or More (Included in Item D.1) (Item F.1)
Report in this item the balance of all time deposits (including share certificates) of $100,000 or
more that are included in item D.1, Total Time Deposits. In determining if a time deposit has a
balance of $100,000 or more, do not combine deposits that are represented by separate

FR 2900 Credit Unions

September 2012

certificates or accounts, even if held by the same customer. Item F.1 covers both personal and
nonpersonal time deposits.
Include in item F.1
1. negotiable and nonnegotiable, and transferable and nontransferable, certificates of deposit
or share certificates issued in denominations of $100,000 or more;
2. time deposit open accounts (including share certificates) and other time deposits having
balances of $100,000 or more;
3. time deposits or share certificates (including certificates of indebtedness) that were
originally issued in denominations of less than $100,000 but that, because of interest or
dividends paid or credited, or because of additional deposits, now have a balance of
$100,000 or more;
4. primary obligations, which meet the definition of time deposits, with balances of
$100,000 or more; and
5. foreign (non-U.S.) currency-denominated deposits that were originally issued for
amounts of $100,000 or more but that, because of their having been converted to U.S.
dollars, now have a balance of less than $100,000 on the report date.
If the reporting institution receives brokered deposits in the form of time deposits (including
share certificates), only that portion of the deposit in amounts of $100,000 or more that is
credited to a single depositor should be included in this item. The remainder of the deposit is
regarded as small time deposits. For example, if a broker purchases one large certificate of
deposit (CD) for $5 million on behalf of several depositors, and each of the underlying
depositors’ shares in the CD is less than $100,000, the entire amount of the CD should be
excluded from this item. However, if any of the underlying depositors have balances of
$100,000 or more, that portion of the CD held by such a depositor or depositors should be
included in this item.
If the reporting institution is unable to collect information from a broker on the amounts credited
to underlying depositors, then, generally, the entire amount of the brokered time deposit
(including share certificates) should be excluded from this item. However, in such cases, the
reporting institution should use all available information to determine whether there is good
reason to believe that amounts credited to underlying depositors are $100,000 or greater. For
example, if the broker deals mainly with institutional customers, then the value of each
underlying share will likely be greater than $100,000, and the brokered deposit should be
included in this item.
Exclude from item F.1
1. time deposits or share certificates with balances of less than $100,000;

FR 2900 Credit Unions

September 2012

2. transaction accounts;
3. savings deposits or share accounts; and
4. any accounts that are time deposits or share certificates in form but that the Federal
Reserve Board has determined, by rule or order, to be transaction accounts.

Schedule AA and Schedule BB - Other Reservable Obligations by Remaining Maturity
Items AA.1 and BB.2 break down, by remaining maturity, the amounts outstanding (1) of
ineligible acceptances (finance bills) 7 and (2) of funds obtained through the issuance of
obligations by nonconsolidated affiliates. Please note that items AA.1 and BB.2 are applicable
only to those reporting institutions that have such obligations. If the reporting institution does
not have such obligations, the reporting institution need only check the boxes that precede
schedule AA and item BB.2 on the reporting form.

Ineligible Acceptances and Obligations Issued by Affiliates (Items AA.1 and BB.2)
Report the following transactions in items AA.1 and BB.2:
1. Amounts of ineligible acceptances (including finance bills): Report the dollar amounts of
ineligible acceptances (those that are not eligible for discount by Federal Reserve Bankssee paragraph 7 of section 13 of the Federal Reserve Act [12 U.S.C. section 372]). Some
ineligible acceptances are referred to as finance bills or “Working Capital Acceptances.”
For ineligible acceptances, report only those outstanding ineligible acceptances that
resulted in funds being obtained by the reporting institution (or its majority-owned
subsidiary) through the creation, discount, and subsequent sale of the acceptance by the
reporting institution (or its majority-owned subsidiary), except those sold to and held by
exempt entities. The amounts to be reported are the amounts of funds received and not
necessarily the face amounts of the ineligible acceptances created. For ineligible
acceptances, report the amounts outstanding of all ineligible acceptances, except those
sold to and held by exempt entities. For outstanding ineligible acceptances that resulted
in funds being obtained by the reporting institution (or its majority-owned subsidiaries),
except those sold to and held by exempt entities, report the dollar amounts of funds
received. For all other ineligible acceptances (those that did not result in funds being
obtained by the reporting institution or its majority-owned subsidiaries), report the face
amounts of the ineligible acceptances created.
2. Amounts of funds obtained through obligations issued by nonconsolidated affiliates:
Report the dollar amounts of the funds obtained by the reporting institution (or its
majority-owned subsidiaries) when its nonconsolidated affiliates use the proceeds of the
7

Include in items AA.1 and BB.2 all ineligible acceptances created by the reporting institution but not currently
held in the reporting institution’s own portfolio. Exclude all ineligible acceptances (1) created by the reporting
institution and sold to an exempt entity and (2) created by and held in the reporting institution’s own portfolio.

FR 2900 Credit Unions

September 2012

obligations that they issue to supply or maintain the availability of funds to the reporting
institution. Such obligations may be in the form of promissory notes (including
commercial paper), acknowledgments of advance, due bills, or similar obligations
(written or oral). However, such obligations should be reported only to the extent that
they would have constituted “deposits” as described in section 1, subsection G.1, or
primary obligations as described in section 1, subsection G.2, had they been issued
directly by the reporting institution.
Due bills issued by the reporting institution’s affiliates are reservable deposits, without regard to
the purpose of the due bills or the party to whom they were issued, unless collateralized within
three business days from the date of issuance by a security similar to the security purchased from
the customer of the reporting institution’s affiliates. The dollar amounts of due bills that are not
so collateralized are to be reported by original maturity and beneficial holder in the appropriate
line item or schedule.
Exclude from items AA.1 and BB.2 funds obtained by the reporting institution through
obligations issued by affiliates and deposited at the reporting institution in the form of
transaction accounts, savings deposits (including share accounts) or time deposits. Such funds
should be reported on the FR 2900 as transaction accounts, savings deposits, or time deposits
(including share accounts and share certificates), as appropriate.

Determining Maturities
For ineligible acceptances that were created, discounted, and sold by the reporting institution (or
its majority-owned subsidiary), the maturities to be reported in items AA.1 and BB.2 are the
remaining maturities of the obligations at the time the proceeds are supplied to the reporting
institution. For acceptances that were not discounted and sold by the reporting institution (or its
majority-owned subsidiaries), the maturity to be reported is the original term of the instrument.
Balances should be classified based on the maturity category initially reported and not the
remaining maturity on the report date.
If the affiliate’s obligation is determined to be a deposit or primary obligation and reportable in
item AA.1 or item BB.2, then the appropriate maturity category is determined by the shorter of
(1) the maturity of the affiliate’s obligation or (2) the maturity of the obligation issued by the
reporting institution to the affiliate or, in the case of assets purchased from the reporting
institution, the remaining maturity of the assets purchased.

Classifying an Affiliate’s Obligation
The following chart summarizes the conditions under which the proceeds from the issuance of an
obligation by an affiliate would be a deposit or a primary obligation and indicates the appropriate
section of the FR 2900 in which the funds should be reported:

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September 2012

Affiliate’s obligation

Funds received by the reporting Funds received by the reporting
institution in the form of a institution not in the form of a
deposit or a primary obligation
deposit or a primary obligation

1. Affiliate’s obligation would
have been a deposit or a
primary obligation if issued
by the reporting institution.

To be reported on FR 2900 as a
transaction account, savings
deposit, or time deposit, as
appropriate.
(See example 1 below.)
2. Affiliate’s obligation would To be reported on FR 2900 as a
not have been a deposit or a transaction account, savings
primary obligation if issued deposit, or time deposit, as
by the reporting institution.
appropriate.
(See example 3 below.)

To be reported on FR 2900 item
AA.1 or item BB.2.
(See example 2 below.)

To be excluded from both the
body and schedule AA of the
FR 2900.
(See example 4 below.)

Example 1:
The nondepository affiliate issues commercial paper with a maturity of six months to a
nonfinancial corporation and immediately supplies the proceeds to the reporting institution by
buying from the reporting institution a time certificate of deposit (CD) with an original maturity
of one year. Although both the nondepository affiliate’s and the reporting institution’s
obligations are reservable liabilities, reserve requirements are not imposed on both obligations.
In this case, reserve requirements would be imposed on the amount of funds supplied to the
reporting institution (that is, the dollar amount of the CD). Maturity is determined by the shorter
of the maturity of the nondepository affiliate’s commercial paper or the maturity of the reporting
institution’s CD. In this example, the reservable obligation would be a nonpersonal time deposit
with a six month maturity. 8 The funds received by the reporting institution would be reported in
the body of the FR 2900 in item D.1, Total Time Deposits, and in item BB.1, Total Nonpersonal
Savings and Time Deposits. If the CD has a balance of $100,000 or more, it also is included in
item F.1, All Time Deposits with Balances of $100,000 or More.
Example 2:
The nondepository affiliate issues an unsecured due bill to a non-exempt entity with a maturity
of three months and supplies the proceeds to the reporting institution when the due bill has a
remaining maturity of two months. The nondepository affiliate supplies the proceeds of the due
bill to the reporting institution by purchasing from the reporting institution assets maturing in one
month. The nondepository affiliate’s obligation is reservable, but the sale of the assets by the
reporting institution to the nondepository affiliate is not. The reporting institution must hold
reserves on the transaction because the nondepository affiliate’s obligation is subject to reserve
requirements. The maturity category is determined by the remaining maturity of the assets sold
by the reporting institution to the nondepository affiliate (one month), which is shorter than the
remaining maturity of the due bill (two months). In this example, the reserve requirement would
be on the nondepository affiliate’s due bill (a primary obligation), and the appropriate maturity
8

Nonpersonal time deposits, regardless of maturity, are reservable liabilities that currently carry a 0 percent reserve
requirement.

FR 2900 Credit Unions

September 2012

would be one month, which is the remaining maturity of the assets purchased. The funds
received by the reporting institution should be reported in item BB.2, Ineligible Acceptances and
Obligations Issued by Affiliates Maturing in Seven Days or More (Nonpersonal Only).
Example 3:
The nondepository affiliate sells commercial paper with a maturity of three months to a
commercial bank and supplies the proceeds to the reporting institution by depositing such funds
in the reporting institution in a demand deposit account. The nondepository affiliate’s sale of
commercial paper to a commercial bank is not subject to reserve requirements, but the demand
deposit account is. Thus, the reporting institution would hold reserves on the demand deposit
account as a transaction account. The funds received by the reporting institution should be
reported in item A.1.c, Other Demand Deposits.
Example 4:
The nondepository affiliate sells U.S. government securities under an agreement to repurchase
and uses the proceeds to purchase assets from the reporting institution. Neither the sale of the
U.S. government securities under an agreement to repurchase nor the purchase of assets is
subject to reserve requirements. Thus, the reporting institution would not hold reserves against
this transaction. The funds received by the reporting institution should be excluded entirely from
the FR 2900.

Schedule AA

Ineligible Acceptances and Obligations Issued by Affiliates Maturing in Less Than Seven
Days (Item AA.1)
Report in item AA.1 the amounts of funds obtained through the issuance of obligations by
affiliates and of funds obtained through the use of ineligible acceptances (except those sold to
and held by exempt entities) both of which mature in less than seven days. Exclude from this
item all ineligible acceptances of the reporting institution sold to, and known to be held by, a
non-U.S. office of another depository institution or of an Edge Act and agreement corporation;
such ineligible acceptances should be included in item BB.2.

Schedule BB - Nonpersonal Items
These items are to be reported only one day each year. For weekly FR 2900 reporters, report the
balance as of the close of business on June 30. For quarterly FR 2900 reporters, report the
balance as of the close of business on the Monday of the June reporting week.

FR 2900 Credit Unions

September 2012

Total Nonpersonal Savings and Time Deposits (Item BB.1)
Report in item BB.1 the total of all nonpersonal savings (including share accounts) and time
deposits (including share certificates), regardless of denomination or maturity, that also are
included in items C.1, Total Savings Deposits, and D.1, Total Time Deposits.
Include in item BB.1
1. savings and time deposits (including share accounts and share certificates) that represent
funds deposited to the credit of, or in which any beneficial interest is held by, a depositor
that is not a natural person, other than a deposit to the credit of a trustee or other fiduciary
if the entire beneficial interest in the deposit is held by a natural person or persons; and
2. savings and time deposits (including share accounts and share certificates) that are
transferable, whether or not the entire beneficial interest is held by natural persons. A
deposit is transferable unless it includes on the face of a document evidencing the account
a statement that the deposit is not transferable or that it is transferable on the books of, or
with the permission of, the reporting institution.
Exclude from item BB.1
All personal savings and personal time deposits (including share accounts and share certificates)
that are not transferable and that represent funds in which the entire beneficial interest is held by
a depositor who is a natural person. Examples are as follows:
1. individual retirement accounts (IRAs), Keogh Plan Accounts, and accounts held by an
employer as part of an unfunded deferred compensation plan established pursuant to
Subtitle D of the Revenue Act of l978 (Public Law No. 95 600; 92 Stat. 2763) in the form
of savings or time deposits (including share accounts and share certificates). A
nontransferable deposit that is an asset of a pension fund normally would be regarded as a
personal deposit, as the entire beneficial interest in such funds normally is held by natural
persons;
2. escrow accounts, such as funds held for tax or insurance payments, if the depositor is a
natural person;
3. trust funds held in the name of a trustee or other fiduciary, whether or not a natural
person, if the entire beneficial interest is held by natural persons; and
4. club accounts, in the form of a savings or a time deposit (including share accounts and
share certificates) and held by natural persons, such as Christmas club, vacation club, and
similar club accounts.
If a broker provides a secondary market in these deposits, as is usually the case, such deposits are
transferable even if they are transferable only on the books and records of the broker and not on
the books and records of the reporting institution itself. Transferable brokered deposits in the

FR 2900 Credit Unions

September 2012

form of savings or time deposits (including share accounts and share certificates) are regarded as
nonpersonal savings or nonpersonal time deposits unless they are (1) deposited to the credit of,
and the entire beneficial interest is held by, natural persons and (2) subject to an agreement
between the broker and the reporting institution that includes all of the following essential terms:
1. The broker will maintain records of the names of the beneficial owners of all brokered
deposits, and such records will be made available to any agency regulating the reporting
institution.
2. The broker will determine the amount of deposits beneficially owned by natural persons
and by entities other than natural persons and will provide a written report to the
reporting institution with that information. That written report must (1) be submitted on
the close of business every Monday or on the opening of business Tuesday for the oneweek period beginning on the previous Tuesday and ending on Monday; (2) include daily
data on the actual amount of personal time deposits (including share certificates) and the
actual amount of nonpersonal time deposits; and (3) include daily data on the amount of
deposits in which the beneficial interest of any one depositor in principal plus interest
exceeds $100,000. (For this purpose, separate deposits or accounts are not aggregated
even if held by the same customer.)
3. The reporting institution has access to records concerning the deposits brokered for it,
and those records should either be delivered to the offices of the reporting institution or,
where appropriate, its federal or state regulator, or access to the records must be provided
to the reporting institution and its supervisory authority on the broker’s premises.
4. The broker will commit to provide the reporting institution with any other data about the
brokered deposits that may be needed in the future by the institution’s state or federal
regulator.

Ineligible Acceptances and Obligations Issued by Affiliates Maturing in Seven Days or
More (Nonpersonal Only) (Item BB.2)
For information on ineligible acceptances and obligations issued by affiliates, see schedule AA
and schedule BB, Other Reservable Obligations by Remaining Maturity.
Report in item BB.2 the amounts of funds obtained through the issuance of obligations by
affiliates and of funds obtained through the use of ineligible acceptances (except those sold to
and held by exempt entities), both of which mature in seven days or more. Also include all
ineligible acceptances of the reporting institution known to be held by a non-U.S. office of
another depository institution or of an Edge Act and agreement corporation. Report in item BB.2
only nonpersonal obligations, including
1. funds in which any beneficial interest is held by a depositor who is not a natural person,
other than a deposit to the credit of a trustee or other fiduciary if the entire beneficial
interest in the deposit is held by a natural person;

FR 2900 Credit Unions

September 2012

2. an obligation that is transferable, except an obligation issued to and held by a natural
person; and
3. an obligation that is issued to and held by a natural person that does not contain on its
face a statement that it is not transferable.
Exclude from item BB.2 all personal obligations.

Schedule CC - Net Eurocurrency Liabilities

Net Eurocurrency Liabilities (Item CC.1)
Item CC.1 is reported only one day each year. For weekly FR 2900 reporters, report the balance
as of the close of business on June 30. For quarterly FR 2900 reporters, report the balance as of
the close of business on the Monday of the June reporting week.

Who Must Report
Reporting institutions that do not maintain branches outside the 50 states of the United States and
the District of Columbia or that do not have an international banking facility (IBF) or
outstanding borrowings from non-U.S. offices of other depository institutions or from certain
other designated non-U.S. entities need only check the box that precedes schedule CC on the
reporting form. Schedule CC must be reported by the following:
1. all banking Edge Act and agreement corporations with foreign (non-U.S.) branches with
an IBF, or with outstanding borrowings from other non-U.S. institutions; and
2. all other depository institutions that have foreign (non-U.S.) branches, an IBF, or
outstanding borrowings from other non-U.S. institutions.
A worksheet and worksheet instructions for the preparation of item CC.1 follow below.

FR 2900 Credit Unions

September 2012

Worksheet for Preparation of Item CC.1, Net Eurocurrency Liabilities for All Depository
Institutions Other Than U.S. Branches and Agencies of Foreign (Non-U.S.) Banks
This worksheet is provided to assist the reporting institution in calculating item CC.1, Net
Eurocurrency Liabilities, to be reported on the FR 2900. This worksheet should not be submitted
to the Federal Reserve Bank.
Please refer to the FR 2900 instructions for descriptions of the items below.

Item List

June Report Date
Bil
Mil
Thou

Item 1:
Gross Borrowings from
Non-U.S. Offices of Other
Depository Institutions
and from Certain
Designated Non-U.S.
Entities
Item 2:
Gross Liabilities to Own
Non-U.S. Branches plus
Net Liabilities to Own
IBF 9

Bil

Example
Mil

Thou

000

Item 3:
Gross Claims on Own Non-

U.S. Branches plus
Net Claims on Own
IBF9
Item 4:
Assets Held by Own IBF and
Own Non-U.S. Branches
Acquired from U.S.
Offices
Item 5:
Credit Extended by Own
Non-U.S. Branches to
U.S. Residents

Calculate the reporting institution’s net eurocurrency liabilities using the formula below and
enter the result in item CC.1 on the FR 2900. Step-by-step instructions for using the formula are
given on the next page.
9

Include only a single net position in worksheet item 2 or 3 that represents the reporting institution’s net due
from/due to position with the reporting institution’s own international banking facility (IBF). Refer to the detailed
FR 2900 instructions to determine this amount. Under no circumstances should an amount be included in both
worksheet items 2 and 3 that represents the reporting institution’s net position with its own IBF.

FR 2900 Credit Unions

September 2012

Net Eurocurrency Liabilities = [(Item 2 + Item 4 + Item 5) – Item 3]† + Item 1
†If the result of the calculation enclosed within the brackets is negative,
that result is set to zero before proceeding with the rest of the equation.
In the example above, item CC.1 = 4,000, as shown below:
$4,000 = [(2,000 + 3,000 + 1,000) – 8,000] + 4,000

FR 2900 Credit Unions

September 2012

Step-by-Step Instructions for Calculating Item CC.1, Net Eurocurrency Liabilities,
Given the Five Items Listed on the Previous Page
Row
A.

Thou

Bil

Mil

Thou

Bil

Mil

Thou

Bil

Mil

Thou

Bil

Mil

Thou

Bil

Mil

Thou

Bil

Mil

Thou

Bil

Mil

Thou

Enter amount in worksheet item 4

Enter amount in worksheet item 5

Enter result of:
Row A + Row B + Row C

Enter amount in worksheet item 3

Enter result of:
Row D – Row E (enter 0 if negative)

Mil

Enter amount in worksheet item 2

Bil

Enter amount in worksheet item 1

Enter result of: Row F + Row G
Report this item on the FR 2900 reporting form
(item CC.1, Net Eurocurrency Liabilities, rounded to
the nearest thousand dollars).

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September 2012

Gross Borrowings from Non-U.S. Offices of Other Depository Institutions and from
Certain Designated Non-U.S. Entities (Worksheet Item 1)
Enter in this item all outstanding borrowings by the reporting institution that were obtained from
A. non-U.S. banking offices of other U.S. and non-U.S. depository institutions 10, including
1. a non-U.S. holding company if the holding company is a bank;
2. a banking subsidiary of a non-U.S. holding company regardless of whether the
holding company is a bank;
3. a non-U.S. bank’s non-U.S. banking subsidiary; and
4. a non-U.S. branch of
(a) a U.S. depository institution; and
(b) an Edge Act and agreement corporation;
B. foreign (non-U.S.) national governments and foreign official banking institutions; and
C. international institutions.
All borrowings are to be reported on a gross basis.
Borrowings from non-U.S. banking offices of other banks should be included in this item
regardless of the terminology used to describe such borrowings, including transactions that are
referred to as “federal funds.”
Include in worksheet item 1 as borrowings
1. obligations such as promissory notes, acknowledgments of advance, or similar
obligations (including the proceeds from loan strips);
2. due bills or similar obligations that remain uncollateralized after three business days; and
3. overdrawn balances at non-U.S. offices of other banks.
Exclude from worksheet item 1
1. any liability of the international banking facility (IBF); or

Reporting institutions that are subsidiaries of non-U.S. depository institutions should report on a gross basis any
borrowings from the non-U.S. parent in this item.

FR 2900 Credit Unions

September 2012

2. any liability actually in the form of, and recorded on the books of the reporting institution
as, a demand deposit, savings deposit, or time deposit (including share accounts and
share certificates); or
3. assets of the reporting institution that represent obligations fully guaranteed as to
principal and interest by the U.S. government or a federal agency, sold under an
agreement to repurchase.

Gross Liabilities to Own Non-U.S. Branches plus Net Liabilities to Own IBF
(Worksheet Item 2)
Enter in this item the outstanding balance at the close of business each day of gross liabilities of
the reporting institution’s U.S. offices to non-U.S. branches of the reporting institution. The net
position of the establishing entity with its international banking facility (IBF) should be included
in this item only if it is a net “due to.” (The instructions for the calculation of the reporting
institution’s net position with its own IBF are shown following the detailed instructions for
worksheet item 3.) All liabilities to non-U.S. branches should be reported gross and not netted
against claims. (Claims are reported gross in worksheet item 3.) These liabilities include,
among other items,
1. funds placed on deposit at the head office or other U.S. offices of the reporting institution
by non-U.S. branches;
2. borrowings by the head office or other U.S. offices of the reporting institution from the
reporting institution’s non-U.S. branches;
3. overdrawn deposit accounts of the head office or other U.S. offices of the reporting
institution at non-U.S. branches (note that such overdrawn accounts should not be treated
as negative balances in worksheet item 3);
4. assets (other than U.S. government or federal agency securities) sold under agreements to
repurchase by the reporting institution to its non-U.S. branches;
5. the proceeds from loan strips sold to the reporting institution’s non-U.S. branches; and
6. other liabilities to own non-U.S. branches, such as those resulting from clearing activities,
payments related to foreign exchange transactions, bankers’ acceptance transactions, and
other activities.
In addition, include in this item the reporting institution’s net liabilities, if any, to its own IBF.
For calculation of this amount, please see the section entitled “Calculation of net due to/due from
own IBF,” which appears immediately following the instructions for worksheet item 3 of the
FR 2900 report.

FR 2900 Credit Unions

September 2012

Gross Claims on Own Non-U.S. Branches plus Net Claims on Own IBF (Worksheet Item 3)
Enter in this item the outstanding balance at the close of business each day of gross claims of the
reporting institution’s U.S. offices on non-U.S. branches of the reporting institution. The net
position of the establishing entity with its international banking facility (IBF) should also be
entered in this line if it is a net “due from.” (See instructions below for the calculation of the
reporting institution’s net position with its IBF.) All claims on non-U.S. branches should be
reported gross and not netted against liabilities. (Liabilities are reported gross in worksheet
item 2.) These claims include, among other items,
1. funds placed on deposit by the head office and other U.S. offices of the reporting
institution at non-U.S. branches;
2. funds advanced by the head office and by other U.S. offices of the reporting institution to
non-U.S. branches;
3. overdrawn deposit accounts of the reporting institution’s non-U.S. branches at the head
office and at other U.S. offices of the reporting institution (note that such overdrawn
accounts should not be treated as negative balances in worksheet item 2);
4. assets (other than U.S. government or federal agency securities) purchased by the
reporting institution from its own non-U.S. branches under an agreement to resell; and
5. other claims on own non-U.S. branches, such as those resulting from clearing activities,
foreign exchange transactions, bankers’ acceptance transactions, unremitted branch
earnings, and other activities.
In addition, include in this item the reporting institution’s net claims, if any, on its own IBF. For
calculation of this amount, please see the section entitled “Calculation of net due to/due from
own IBF,” which appears immediately below.

FR 2900 Credit Unions

September 2012

Calculation of net due to/due from own IBF
To determine whether the reporting institution has net liabilities due to the reporting
institution’s own international banking facility (IBF) to be entered in worksheet item 2, or
net claims on the reporting institution’s own IBF to be entered in worksheet item 3, it is
necessary to perform the following calculations using the asset and liability accounts of
the reporting institution’s own IBF:
1. Compute IBF liabilities to parties other than U.S. offices of the establishing entity
minus IBF assets due from parties other than U.S. offices of the establishing entity.
2. If the difference calculated in (1) is positive, it represents, on the books of the IBF,
net balances due from U.S. offices of the establishing entity. For purposes of the
FR 2900 report, it represents the establishing entity’s net liabilities due to own IBF
and should be included in worksheet item 2.
3. If the difference calculated in (1) is negative, its absolute value represents, on the
books of the IBF, net balances due to U.S. offices of the establishing entity. For
purposes of the FR 2900 report, its absolute value represents the establishing entity’s
net claims on its own IBF and should be included in worksheet item 3.

Assets Held by Own IBF and Own Non-U.S. Branches Acquired from U.S. Offices
(Worksheet Item 4)
Enter in this item the amount of outstanding funds received by the reporting institution for assets
that were acquired and still held by the reporting institution’s own international banking facility
(IBF), by its own non-U.S. offices, and by non-U.S. offices of an affiliated Edge Act and
agreement corporation and that were acquired from the reporting institution’s U.S. offices. In
addition, for Edge Act and agreement corporations, include the amount of outstanding funds
received by the reporting institution for assets acquired and still held by non-U.S. offices of the
reporting institution’s U.S. or non-U.S. parent institution. 11
The amount entered here includes assets that are claims on both U.S. and non-U.S. entities.
Include such assets as
1. loans and securities sold outright by U.S. offices of the reporting institution to its own
IBF or its own non-U.S. branches; and
2. participations in loans and other assets acquired by the reporting institution’s own IBF or
non-U.S. branches.
11

Do not include those assets that were acquired by an IBF from its establishing entity before the end of the second
14-day reserve computation period after establishment of the IBF.

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Exclude from this item sales of assets under agreements to repurchase by U.S. offices to the
reporting institution’s non-U.S. branches. Such transactions should be reported in worksheet
item 2.

Credit Extended by Own Non-U.S. Branches to U.S. Residents (Worksheet Item 5)
Enter in this item the amount of credit extended directly by the reporting institution’s non-U.S.
branches to U.S. residents, regardless of where the proceeds will be used. However, if the
amount of credit extended to U.S. residents by any single non-U.S. branch did not exceed $1
million at any time during the computation period, the amount for that branch should not be
reported. In addition, if the aggregate amount of credit extended to any particular U.S. resident
by all non-U.S. branches did not exceed $100,000, the amount of credit to that U.S. resident
should not be reported. Also, do not include as credit extended to U.S. residents
1. amounts representing credit to U.S. residents acquired from U.S. offices of the reporting
institution;
2. credit extended to other depository institutions, to banking Edge Act and agreement
corporations, or to U.S. branches and agencies of non-U.S. banks;
3. credit extended to an IBF; and
4. credit extended to a non-U.S. branch, office, subsidiary, affiliate, or other foreign
establishment controlled by one or more U.S. corporations if the proceeds of the credit
will be used to finance its non-U.S. operations, even if the credit is guaranteed by the
U.S. corporation.
Perform the calculation detailed on the Worksheet for Preparation of Item CC.1, Net
Eurocurrency Liabilities, and enter the result on the FR 2900, item CC.1, Net Eurocurrency
Liabilities, rounded to the nearest thousand dollars.

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Glossary
This section provides definitions for terms in sections 1 and 2. These definitions are used for
purposes of the FR 2900. They may differ from definitions that appear in other rules,
regulations, statutes, or reports.
Acknowledgment of advance
A notification by a depository institution of its liability for funds that have been received.
Acknowledgments of advance may take the form of an electronic advice, written receipt,
issuance of a credit memo or other documentation, or simply an oral communication confirming
the receipt of funds under a borrowing-lending arrangement. Acknowledgments of advance are
primary obligations of the issuing depository institution.
ATS (Automatic transfer service) account
A deposit or account authorized by the last sentence of 12 U.S.C. § 371a and consisting only of
funds (1) in which the entire beneficial interest is held by one or more individuals, (2) on which
the depository institution has reserved the right to require at least seven days’ written notice prior
to withdrawal or transfer of any funds in the account, and (3) from which, pursuant to prior
written agreement between the institution and the depositor, withdrawals may be made
automatically through payment to the depository institution itself or through transfer of credit to
a demand deposit or other account in connection with checks or share drafts drawn upon the
institution or to maintain a specified balance in, or to make periodic transfers to, such other
accounts.
An ATS account is a transaction account.
Bankers’ acceptance
A draft or bill of exchange usually drawn under a letter of credit issued by the reporting
institution to a customer and “accepted” by the reporting institution (that is, the reporting
institution assumes an obligation to make payment at maturity). Generally, a bankers’
acceptance is eligible for discount by a Federal Reserve Bank if it is used to finance the export or
import of goods, the domestic shipment of goods, and the foreign or domestic storage of goods
and if it has a remaining maturity of l80 days or less. Bankers’ acceptances used to finance
dollar exchange are also eligible for discount by a Federal Reserve Bank if the remaining
maturity is three months or less. Bankers’ acceptances issued for other purposes, such as finance
bills and working capital acceptances, are ineligible for discount at Federal Reserve Banks. (See
12 U.S.C. § 372.)
Bankers’ bank
A bankers’ bank is an institution satisfying all of the following criteria:

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1. The institution is organized solely to do business with other financial institutions. This
requirement may be met even though the institution does a limited amount of business
with customers other than financial institutions. Those customers to whom the institution
may lend, or from whom it may receive, deposits are specified in 12 CFR § 204.121.
2. The institution is owned primarily (75 percent or more) by the financial institutions with
which it does business.
3. The institution does not do business with the general public except for customers
specified in 12 CFR § 204.121. Loans to customers other than financial institutions may
not exceed 10 percent of the institution’s total assets, and the deposits that the institution
receives from customers other than financial institutions may not exceed 10 percent of
the institution’s total liabilities.
Banking business
The business of accepting deposits, making loans, and providing related services. The banking
business does not include the acceptance of trust funds.
Bank note
A debt security issued by a depository institution with the term “Bank Note” included on the
instrument.
Bona fide cash management
A cash management plan can be regarded as bona fide when an institution and a depositor have
agreed that the institution may use the balance in one account to offset the overdrafts in another
account of the same type or a related depositor and where a bona fide cash management purpose
is served. Although a written agreement is not required, there should be some indication of this
purpose that can be referred to in order to demonstrate the bona fide nature of the arrangement.
It should be recognized that, depending on the nature and extent of any cash management plan,
sound banking practice may require that the institution’s authority and responsibility be
documented. A bona fide cash management function is not served when an institution nets a
depositor’s multiple accounts after an overdraft occurs in one of these accounts merely to reduce
its reservable liabilities.
Branches and agencies of foreign (non-U.S.) banks
See U.S. branches and agencies of foreign (non-U.S.) banks.
Brokered deposits
Funds in the form of deposits that a depository institution receives from brokers or dealers on
behalf of individual depositors. For details on reporting, see the memorandum section on item

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F.1, All Time Deposits with Balances of $100,000 or More, or item BB.1, Total Nonpersonal
Savings and Time Deposits.
Brokers security draft
A draft with securities or title to securities attached that is drawn to obtain payment for the
securities. This draft is sent to a bank for collection with instructions to release the securities
only on payment of the draft.
Cash collateral account
A liability account that is established typically in connection with the issuance of a commercial
letter of credit by the reporting institution. A cash collateral account appears on the books of the
reporting institution, through either a transfer of funds from a customer’s deposit account or a
deposit of cash, in an amount equal to all or some portion of the authorized amount of the letter
of credit. As drafts are drawn under the letter of credit and presented to the reporting institution
for payment, the amounts of the drafts are charged to the account. After the letter of credit
expires, any balance remaining in the account is paid or credited to the customer.
Certificates of indebtedness
Unsecured promissory notes that represent borrowings by a depository institution.
Club accounts
Christmas club, vacation club, or similar savings deposits, share accounts, time deposits, or share
certificate accounts for which there are written contracts providing that no withdrawals can be
made until a certain number of periodic deposits have been made during a period of not less that
three months, even though some of the deposits are made within six days from the end of the
period.
Commodity or bill of lading draft
A draft that is issued in connection with the shipment of goods. If the commodity or bill of
lading draft becomes payable only when the shipment of goods against which it is payable
arrives, it is an arrival draft. Arrival drafts are usually forwarded by the shipper to the collecting
depository institution with instructions to release the shipping documents (for example, a bill of
lading) conveying title to the goods only upon payment of the draft. Payment, however, cannot
be demanded until the goods have arrived at the drawee’s destination. Arrival drafts provide a
means of ensuring payment of shipped goods at the time that the goods are released.
Credit balance
A liability booked by the reporting institution as a credit balance or maintained by the reporting
institution and owed to a third party that is incidental to, or that arises from, the exercise of

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banking powers. Also include any credit balance that results from customers’ overpayments of
account balances on credit cards and related plans.
Custodial inventory program
Pursuant to the Federal Reserve Currency Recirculation Policy, the Federal Reserve Banks have
created a Custodial Inventory Program to help offset the opportunity costs associated with
holding additional currency in reporting institutions’ vaults to facilitate its recirculation. By
participating in this program, the reporting institution will be allowed to transfer currency to the
Federal Reserve Bank’s books but will continue to physically hold the currency within its
secured facility.
For more information about the policy, please visit
www.frbservices.org/operations/currency/custodial_inventory_program.html.
Dealer reserve or dealer differential account
An account that arises when a merchant or dealer (such as a home-improvement contractor, auto
dealer, or mobile home dealer) enters into an arrangement with the reporting institution to
furnish the dealer with financing of installment loans by selling the loans to the reporting
institution at discount. The proceeds of the sale that the dealer receives from the institution
represent only a portion (such as 90 percent) of the amount due on the installment loans. Typical
accounting entries by the reporting institution are a debit to “loans” for the principal amount due
on the loans purchased, a credit to the dealer’s “demand deposit” account for 90 percent of the
amount, and a credit to a “dealer reserve” or a “dealer differential” account for the remaining 10
percent. Because the dealer does not have access to the funds credited to the reporting
institution’s dealer reserve or differential account and may not make withdrawals from the
account, no deposit liability arises until such time as the reporting institution becomes liable to
the dealer for any portion of the funds.
Demand deposit
A deposit described in section 1, subsection G.1, or a primary obligation described in section 1,
subsection G.3, that is payable immediately on demand, or that is issued with an original
maturity or required notice period of less than seven days, or that represents funds for which the
depository institution does not reserve the right to require at least seven days’ written notice of
an intended withdrawal.
A demand deposit is a transaction account.
Deposit notes
A debt security issued by a depository institution with the term “deposit” included on the note.

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Depository institution
Any of the following institutions that are empowered to perform a banking business and that
perform this business as a substantial part of their operations and are federally insured or are
eligible to apply to become federally insured:
1. U.S. commercial banks
A. national banks;
B. state-chartered commercial banks; and
C. trust companies that perform a commercial banking business;
2. U.S. branches and agencies of foreign (non-U.S) banks;
3. banking Edge Act and agreement corporations;
4. savings banks (mutual and stock);
5. building or savings and loan associations;
6. cooperative banks;
7. homestead associations;
8. credit unions; and
9. industrial banks (including thrift and loan companies and industrial savings banks) when
chartered as a bank under state law.
The term “depository institution” excludes the following:
1. private banks or unincorporated banking institutions organized as partnerships or
proprietorships and authorized to perform commercial banking business;
2. a trust company whose principal function is to accept and execute trust arrangements or
act in a purely fiduciary capacity;
3. a cash depository, cooperative exchange, or similar depository organization whose
principal function is to serve as a safe deposit institution;
4. a finance company, whether or not empowered to receive deposits or sell certificates of
deposit;

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5. U.S. government agencies and instrumentalities, such as the Federal Home Loan Banks,
Federal Intermediate Credit Banks, Federal Land Banks, Banks for Cooperatives, the
Federal Home Loan Mortgage Corporation, Federal Deposit Insurance Corporation,
Federal National Mortgage Association, Federal Financing Bank, National Credit Union
Share Insurance Fund, and NCUA Central Liquidity Facility;
6. Export-Import Bank of the United States;
7. Government Development Bank of Puerto Rico;
8. Minbanc Capital Corporation; and
9. Federal Reserve Banks.
Deposits
See Regulation D, section 204.2(a)(1).
Dividend
Any payment to or for the account of a depositor as compensation for the use of funds
constituting a deposit.
Draft
An instrument signed by the drawer ordering the payment of a certain sum of money on demand
to the order of a specified person or bearer.
Due bill
An instrument representing an obligation or promise to sell or deliver at some future date
securities, foreign exchange, and so on. Due bills generally are issued in lieu of the item to be
sold or delivered at times when the item is in short supply or otherwise currently unavailable.
The issuance of due bills may give rise to a reservable deposit (see section 1, subsection G.2.i,
Primary Obligations).
Edge Act and agreement corporations
An Edge Act corporation is a corporation chartered by the Federal Reserve Board under section
25(a) of the Federal Reserve Act to engage in international banking and financial operations.
An agreement corporation is a state-chartered corporation that enters into a written agreement
with the Federal Reserve Board to enter into those activities that are permitted to Edge Act
corporations (which are chartered by the Federal Reserve Board).

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Excess balance account (EBA)
An account at a Reserve Bank established by one or more eligible institutions and in which only
excess balances of the participating eligible institution(s) may at any time be maintained.
Exempt entities
U.S. offices of the following:
1. U.S. commercial banks and trust companies conducting a commercial banking business
and their majority-owned subsidiaries;
2. U.S. branches or agencies of foreign (non-U.S.) banks (that is, banks organized under
foreign (non-U.S.) law);
3. banking Edge Act and agreement corporations;
4. mutual and stock savings banks;
5. building or savings and loan associations and homestead associations;
6. cooperative banks;
7. industrial banks;
8. credit unions (including corporate central credit unions);
9. the U.S. government and its agencies and instrumentalities, such as the Federal Reserve
Banks, Federal Home Loan Banks, Federal Intermediate Credit Banks, Federal Land
Banks, Banks for Cooperatives, the Federal Home Loan Mortgage Corporation, Federal
Deposit Insurance Corporation, Federal National Mortgage Association, Federal
Financing Bank, Student Loan Marketing Association, National Credit Union Share
Insurance Fund, and NCUA Central Liquidity Facility;
10. Export-Import Bank of the United States;
11. Government Development Bank of Puerto Rico;
12. Minbanc Capital Corporation;
13. securities dealers, but only when the borrowing (a) has a maturity of one day, (b) is in
immediately available funds, and (c) is in connection with the clearance of securities;
14. the U.S. Treasury;

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15. New York State investment companies (chartered under Article XII of the New York
State Banking Code) that perform a banking business and that are majority owned by one
or more non-U.S. banks; and
16. investment companies or trust companies whose entire beneficial interest is held
exclusively by one or more depository institutions.
Exemption amount
Section 411 of the Garn-St Germain Depository Institutions Act of 1982 subjects the first $2.0
million of a depository institution’s reservable liabilities to a reserve requirement of 0 percent.
The amount of reservable liabilities subject to the 0 percent reserve requirement (the exemption
amount) is adjusted each year for the next succeeding calendar year by 80 percent of the increase
in total reservable liabilities of all depository institutions, measured on an annual basis as of
June 30. (No corresponding adjustment is made in the event of a decrease in total reservable
liabilities of all depository institutions.) The revised exemption amount is to be effective for the
following calendar year. The exemption amount is used in two ways. First, it is used for all
FR 2900 reporters in the reserve requirement calculations during the calendar year (January
through December) following the announcement of the revised amount. Second, for those
depository institutions whose deposits reporting status is based on the level of their net
transaction accounts, it is used to determine who must file the FR 2900 and who is eligible for
reduced reporting for the 12-month period beginning in the September following the
announcement of the revised exemption amount each year.
The current exemption amount can be found in chapter V of the Reserve Maintenance Manual.
Federal public funds
Funds of the U.S. government and funds the deposit of which is subject to the control and
regulation of the United States or any of its officers, agents, or employees.
Federal Reserve draft
A draft issued by a depository institution that is drawn on its account at a Federal Reserve Bank
and that is payable by the Federal Reserve Bank.
Finance bills
A bill of exchange not accompanied by shipping documents, usually of 60 days tenor or over,
and drawn by a bank or banker in one country on a bank or banker in another for the purpose of
raising funds. Finance bills are not drawn against the shipment of goods. They are sometimes
drawn against balances maintained with the drawee bank but more often are not, being in the
nature of an advance from a bank in one country to a bank in another. The drawee bank accepts
a finance bill for a fixed commission but only, of course, when the drawing bank has a high
credit rating.

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Foreign (non-U.S.) bank
A bank organized under foreign (non-U.S.) law. Foreign banks include commercial banks,
merchant banks, discount houses, and similar depository institutions, including nationalized
banks that perform essentially a banking business and do not perform, to any significant extent,
official functions of foreign (non-U.S.) governments.
Foreign (non-U.S.) governments
Central, national, state, provincial, and local governments in foreign (non-U.S.) countries
(including their ministries, departments, and agencies) that perform functions similar to those
performed in the United States by government entities.
For purposes of Regulation D, foreign (non-U.S.) governments also include foreign (non-U.S.)
official banking institutions.
Foreign (non-U.S.) national government
A central or national government that performs functions similar to those performed by the
federal government of the United States. State, provincial, and local governments are not
included as foreign national governments.
Foreign (non-U.S.) official banking institutions
Central banks, nationalized banks, and other banking institutions in foreign (non-U.S.) countries
that are owned by central governments and that have as a significant part of their function
activities similar to those of a treasury, central bank, development bank, exchange control office,
stabilization fund, monetary agency, currency board, and so on.
Hypothecated deposits
Funds received by the reporting institution that are recorded as deposits generally in accordance
with state law and that reflect periodic payments by a borrower on an installment loan. These
payments are accumulated until the sum of the payments equals the entire amount of principal
and interest on the loan, at which time the loan is considered paid in full. The amounts received
by the reporting institution are not immediately used to reduce the unpaid balance of the note but
are assigned to the reporting institution and cannot be reached by the borrower or the borrower’s
creditors. Hypothecated deposits are not to be reported as reservable deposits.
Deposits that simply serve as collateral for loans are not considered hypothecated deposits for
purposes of the FR 2900 report.

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Immediately available funds
Funds that the reporting institution can invest or dispose of on the same business day that the
transaction giving rise to receipt of the funds is executed. Such funds are sometimes referred to
as “collected,” “actually collected,” “finally collected,” or “good” funds.
International institution
(1) Any international entity of which the United States is a member, such as the International
Bank for Reconstruction and Development (World Bank), International Monetary Fund, InterAmerican Development Bank, and the United Nations; and (2) other foreign, international, or
supranational entities of which the United States is not a member, such as the African
Development Bank, Central Treaty Organization, European Atomic Energy Community,
European Economic Community, European Development Fund, Caribbean Development Bank,
Bank for International Settlements, and so on. (See Regulation D 12 CFR § 204.125.)
Letter of credit
A letter of advice, from a depository institution to its agent or correspondent, requesting that a
sum of money be made available to the person named in the letter under specified conditions.
Loan-to-lender program
A loan-to-lender program involves the issuance of tax-exempt bonds by a state or local housing
authority and the subsequent lending of the proceeds to a reporting institution with the condition
that these funds be used to make specified types of residential real estate loans. The funds
advanced to institutions under the program are evidenced by a loan agreement and a promissory
note issued by the institution to the housing authority.
Majority-owned subsidiary
A U.S. subsidiary (except for an Edge Act and agreement corporation) of which a reporting
institution owns 50 percent or more.
MMDA (Money market deposit account)
See savings deposit.
Natural person
A natural person for purposes of the FR 2900 report is an individual or a sole proprietorship.
The term does not mean a corporation owned by an individual, a partnership, or other
association.

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Net transaction accounts
Total Transaction Accounts (item A.3) minus Demand Balances Due from Depository
Institutions in the U.S. (item B.1) minus Cash Items in Process of Collection (item B.2) plus
Ineligible Acceptances and Obligations Issued by Affiliates Maturing in Less Than Seven Days
(item AA.1). Note that if the first three terms produce a result that is less than zero, that result
should be set to zero before proceeding.
Noncash item
An item that would otherwise fit the definition of cash items except that it requires special
handling as classified by the Federal Reserve System’s Operating Circulars.
Examples of items requiring special handling are as follows:
•
•
•

items with a passbook, certificate, or other document attached;
items accompanied by special instructions (such as a request of special advise of payment
or dishonor); and
items that have not been preprinted or post-encoded in magnetic ink with the routing
number of the paying bank.

Nonconsolidated affiliate
An entity that
•

is controlled by the shareholders of the reporting institution; that is, control is held
directly or indirectly through stock ownership, or in any other manner, by (1)
shareholders of the reporting institution who own or control either a majority of the
shares of such depository institution or more than 50 percent of the number of shares
voted for the election of directors of the reporting institution at the preceding election or
by (2) trustees for the benefit of the shareholders of any such depository institution; or

•

has a majority of its directors on the board of directors of the reporting institution; that is,
the majority of its directors, trustees, or other persons exercising similar functions also
are directors of any other depository institution; or

•

owns or controls the reporting institution; that is, owns or controls directly or indirectly
either a majority of the shares of capital stock of the reporting institution or more than 50
percent of the number of shares voted for the election of directors, trustees, or other
persons exercising similar functions of the reporting institution at the preceding election
or controls in any manner the election of a majority of directors, trustees, or other persons
exercising similar functions of the reporting institution, or for the benefit of whose
shareholders or members all or substantially all the capital stock of a depository
institution is held by trustees.

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Non-exempt deposit cutoff
This cutoff is used to determine whether depository institutions report on the FR 2900 weekly or
quarterly.
The Federal Reserve Board determines the deposit cutoff. The Board also indexes the cutoff
annually to grow at 80 percent of the June-to-June growth rate of total transaction accounts,
savings deposits, and small time deposits at all depository institutions. Consistent with rules
governing indexing the exemption amount, if total transaction accounts, savings deposits, and
small time deposits decline in that period, the Board will make no downward adjustment through
the indexing process. On occasion, the Federal Reserve Board has increased the deposit cutoff
beyond its indexed level.
Non-exempt entity
A non-exempt entity is any one of the following:
1. individuals, partnerships, and corporations, wherever located;
2. security dealers wherever located, when the borrowing (a) has a maturity longer than one
day, (b) is not in immediately available funds, and (c) is not in connection with the
clearance of securities;
3. state and local governments in the United States and their political subdivisions;
4. a depository institution’s parent holding company if the holding company is not a bank;
5. a depository institution’s parent holding company’s nonbanking subsidiaries;
6. a depository institution’s nonbanking subsidiaries; and
7. international institutions.
Nonpersonal savings deposit
A savings deposit (including share accounts) that is transferable or that represents funds
deposited to the credit of, or in which any beneficial interest is held by, a depositor that is not a
natural person.
Nonpersonal time deposit
Nonpersonal time deposit means
1. a time deposit (including share certificates) representing funds deposited to the credit of,
or in which any beneficial interest is held by, a depositor that is not a natural person;

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September 2012

2. a time deposit (including share certificates) that is transferable and held by a natural
person; or
3. a time deposit (including share certificates) issued to and held by a natural person that
does not contain on its face a statement that the deposit is not transferable.
Non-U.S.
Any geographic location, including the Commonwealth of Puerto Rico and U.S. territories and
possessions, outside the 50 states of the United States and the District of Columbia.
Non-U.S. bank
See foreign (non-U.S.) bank.
Original maturity
The length of time from the date of issue to the earliest date that the funds may be withdrawn at
the option of the depositor under the terms of the deposit agreement. Where a deposit is
withdrawable on a specified date, the maturity is determined by the length of time between the
issue date and the specified maturity date. Where a deposit has no specified maturity but can be
withdrawn after written notice is provided to the reporting institution, the maturity is determined
by the length of the required notice period. Roll-over certificates of deposit, multiple maturity
deposits, alternative maturity deposits, or deposits providing other maturity combinations that
permit a depositor the option of withdrawing the deposit at different dates or periods of time
should be reported on the basis of the earliest allowable withdrawal date.
Payable-through drafts
A negotiable demand draft that can be sent for payment to an institution that is not the institution
on which the draft is drawn. The draft may be drawn on a depository institution, or it may be
drawn on a nondepository institution.
Personal savings deposit
A savings deposit that is not transferable and that represents funds deposited to the credit of, or
in which the entire beneficial interest is held by, a depositor who is a natural person.
Personal time deposit
A time deposit (including a share certificate) that represents funds deposited to the credit of, or in
which the entire beneficial interest is held by, a natural person, including a time deposit that is
issued to or held by a natural person and that contains a statement on its face that it is not
transferable.

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September 2012

Preauthorized transfer
See telephone and preauthorized transfer accounts.
Reduced reporting limit
The amount of total transaction accounts, savings deposits, and small time deposits that if
equaled or exceeded at a depository institution, requires the institution to report on the FR 2900
weekly, regardless of the level of their net transactions accounts.
Any institution with total transaction accounts, savings deposits, and small time deposits greater
than or equal to the reduced reporting limit is required to report an FR 2900 weekly, regardless
of the level of their net transaction accounts. Initially set at $1 billion in 2003, the reduced
reporting limit is indexed to 80 percent of the June 30-to-June 30 growth in total transaction
accounts, savings deposits, and small time deposits at all depository institutions. As with current
indexation procedures, if total transaction accounts, savings deposits, and small time deposits
decline in that period, the reduced reporting limit would remain unchanged. The revised reduced
reporting limit is effective for the 12-month period beginning in the September following the
announcement of the revised reduced reporting limit each year.
Remote service unit (RSU)
RSU includes, without limitation, point-of-service terminals, merchant-operated terminals, cashdispensing machines, and automated teller machines.
Repurchase agreement
An arrangement involving the sale of a security or other asset under a prearranged agreement to
repurchase the same or similar security or asset at a later date.
Returned item
A check or draft that is returned by a drawee institution to the presenting institution because of
certain irregularities that, if waived, might result in a loss to the drawee institution. The item is
returned so that the presenting institution may correct the defect or take such other action as may
be necessary, such as charging the depositor’s account.
Savings deposit
A savings deposit is a deposit described in section 1, subsection G.1, or a primary obligation
described in section 1, subsection G.2, with respect to which the depositor is not required by the
deposit contract, but may at any time be required by the depository institution, to give written
notice of an intended withdrawal not less than seven days before the withdrawal is made, and
that is not payable on a specified date or at the expiration of a specified time after the date of
deposit.

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The term “savings deposit” also means a deposit or account, such as an account commonly
known as a passbook savings account, a statement savings account, or a money market deposit
account (MMDA), that otherwise meets the requirements of the preceding paragraph and from
which, under the terms of the deposit contract or by practice of the depository institution, the
depositor is permitted or authorized to make no more than six transfers and withdrawals, or a
combination of such transfers and withdrawals, per calendar month or statement cycle (or similar
period) of at least four weeks to another account (including a transaction account) of the
depositor at the same institution or to a third party by means of a preauthorized or automatic
transfer; a telephonic (including data transmission) agreement, order, or instruction; or a check,
draft, debit card, or similar order made by the depositor and payable to third parties.
Share account
Funds in the form of shares purchased by a member or other approved depositor that are received
or held by the reporting institution in its usual course of business and for which the reporting
institution has given, or is obligated to give, credit to the account of the depositor. This account
is not payable on a specified date or after a specified period of time. However, the reporting
institution expressly reserves the right to require at least seven days’ written notice before an
intended withdrawal of all or any portion of the shares in an account.
Share certificate
A transferable or nontransferable instrument or account that provides on its face or in the
underlying agreement that a specified amount of shares is payable to the bearer or to any
specified person
1. on a certain date, specified in the instrument or underlying account, not less than seven days
after the purchase date of shares; or
2. at the expiration of a certain specified time not less than seven days after the date the
instrument is issued or the account is opened; or
3. upon notice in writing that actually is required to be given by the certificate holder not less
than seven days before the date of repayment.
Share draft
A share draft is a negotiable or nonnegotiable draft signed by the account holder and directing
the credit union on which the draft is drawn to pay a certain sum of money on demand to the
order of a specified person or bearer. Such drafts are used to withdraw funds from a share draft
account.
A share draft account is a share account from which funds may be withdrawn or transferred to
third parties by issuance of a negotiable or transferable instrument or other order.

FR 2900 Credit Unions

September 2012

Small time deposit
A time deposit issued in an amount less than $100,000.
Suspense accounts
Temporary holding accounts in which items are carried until they can be identified and their
disposition to the proper asset or liability account can be made.
Telephone and preauthorized transfer accounts
Telephone and preauthorized transfer accounts that are regarded as transaction accounts are
deposits or accounts, other than savings deposits, (1) in which the entire beneficial interest is
held by a party eligible to hold a share draft account, (2) on which the reporting institution has
reserved the right to require at least seven days’ written notice prior to withdrawals or transfer of
any funds in the account, and (3) under the terms of which, or by practice of the reporting
institution, the depositor is permitted or authorized to make more than six withdrawals per month
or statement cycle (or similar period) of at least four weeks for purposes of transferring funds to
another account of the depositor at the same institution (including a transaction account) or for
making payment to a third party by means of a preauthorized transfer; a telephonic (including
data transmission) agreement, order, or instruction; or a check, draft, debit card, or similar order
made by the depositor and payable to third parties. An account that permits or authorizes more
than six such withdrawals in a month is a transaction account whether or not more than six such
withdrawals actually are made in a month. (A month is a calendar month or any period
approximating a month that is at least four weeks long, such as a statement cycle.)
A preauthorized transfer includes any arrangement by the reporting institution to pay a third
party from the account of a depositor upon written or oral instruction (including an order
received through an automated clearing house, or ACH), or any arrangement by the reporting
institution to pay a third party from the account of the depositor at a predetermined time or on a
fixed schedule.
Telephone and preauthorized transfers also include deposits or accounts maintained in
connection with an arrangement that permits the depositor to obtain credit directly or indirectly
through the drawing of a negotiable or nonnegotiable check, draft, order or instruction, or other
similar device (including telephone or electronic order or instruction) on the issuing institution
that can be used for the purpose of making payments or transfers to third persons or others or to a
deposit account of the depositor.
Also include in this item the balance of deposits or accounts that otherwise meet the definition of
time deposits but from which payments may be made to third parties by means of a debit card
(including POS debits), an ATM, a RSU, or other electronic device, regardless of the number of
payments made.

FR 2900 Credit Unions

September 2012

Teller’s check
A check or draft drawn by a depository institution on another depository institution, a Federal
Reserve Bank, or a Federal Home Loan Bank or payable at or through a depository institution, a
Federal Reserve Bank, or a Federal Home Loan Bank.
Teller’s checks do not include checks or drafts sold by a bank acting in an agency capacity where
that capacity is clearly stated on the face of the check or checks, or drafts drawn without recourse
where permitted by state law.
Time certificate of deposit
A deposit described in section 1, subsection G.1, or a primary obligation described in section 1,
subsection G.2, that is payable on a specified date, after a specified period of time from the date
of deposit, or after a specified notice period, which may be not less than seven days from the date
of deposit.
A time deposit (including share certificates) may be represented by a transferable or
nontransferable, or a negotiable or nonnegotiable, certificate, instrument, passbook, or statement.
A nonnegotiable time deposit is distinguished from a nontransferable time deposit in that the
transferee of a nonnegotiable time deposit would not be a holder in due course and would not
have the ability to cut off certain defenses of an obligor even though an exchange for value can
be made. A nontransferable time deposit allows no exchange for value to be made.
Time deposit
A deposit (including share certificates) described in section 1, subsection G.1, or a primary
obligation described in section 1, subsection G.2, from which the depositor does not have a right
and is not permitted to make withdrawals from within six days after the date of deposit unless the
deposit is subject to an early withdrawal penalty of at least seven days’ simple interest on
amounts withdrawn within the first six days after deposit. A time deposit from which partial
early withdrawals are permitted must impose additional early withdrawal penalties of at least
seven days’ simple interest on amounts withdrawn within six days after each partial withdrawal.
If such additional early withdrawal penalties are not imposed, the account ceases to be a time
deposit. The account may become a savings deposit if it meets the requirements for a savings
deposit; otherwise, it becomes a demand deposit.
Time deposit open account
A deposit other than a time certificate of deposit, with respect to which there is in force a written
contract with the depositor that neither the whole nor any part of such deposit may be withdrawn
prior to the date of maturity, which shall be not less than seven days after the date of deposit, or
prior to the expiration of the period of notice, which must be given by the depositor in writing
not less than seven days in advance of withdrawal.

FR 2900 Credit Unions

September 2012

Transferable
Any deposit that does not contain a specific statement on the certificate, instrument, passbook,
statement, or other form representing the deposit that the deposit is not transferable. A deposit
that contains a specific statement that it is not transferable is not regarded as transferable even if
the following transactions can be effected: a pledge as collateral for a loan; a transaction that
occurs due to circumstances arising from death, incompetency, marriage, divorce, attachment, or
otherwise by operation of law; or a transfer on the books or records of the institution.
Unposted credits
Items that have been received for deposit and that are in process of collection but that have not
been posted to individual or general ledger deposit accounts. These credits should be reported as
deposits.
Unposted debits
Cash items drawn on the reporting institution that have been paid or credited by the institution
and that are chargeable but that have not been charged against deposits as of the close of
business. These items should be reported as “cash items in process of collection” until they have
been charged to either individual or general ledger deposit accounts.
U.S. (United States)
The 50 states of the United States and the District of Columbia, and military facilities, wherever
located.
U.S. branches and agencies of foreign (non-U.S.) banks
Branches and agencies of foreign (non-U.S.) banks that operate as a U.S. office of their foreign
(non-U.S.) parent bank. The branch or agency may be licensed by the U.S. government or by a
state of the United States. As defined by section 1 of the International Banking Act of l978
(12 U.S.C. §3101), a branch means any office or any place of business of a foreign bank located
in any state of the United States at which deposits are received; an agency means any office or
any place of business of a foreign bank located in any state of the United States at which credit
balances are maintained incidental to, or arising out of, the exercise of banking powers, checks
are paid, or money is lent but at which deposits may not be accepted from citizens or residents of
the United States.
U.S. Treasury general account
A Treasury account maintained at the reporting institution to which government officers deposit
funds obtained in connection with special collections, such as customs fees or other tax
collections.

FR 2900 Credit Unions

September 2012

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File Modified	2015-07-24
File Created	2014-01-31