Public Funds on Deposit definition

Public Funds on Deposit means the total dollar amount of Public Funds deposited at a specific Depository. Public Funds on Deposit includes, but is not limited to, all funds held in Deposit accounts, as defined by IC 5-13-4-7, in any account subject to withdrawal by negotiable orders of withdrawal, in passbook savings accounts, in certificates of deposit, in money market deposit accounts, and in any interest-bearing account that is authorized to be set up and offered by a financial institution in the course of its business. If a Depository can determine the total dollar amount of Public Funds that are on deposit and are covered by the insurance of any Federal Deposit Insurance Agency, the Public Funds on Deposit for such Depository shall be defined as the total dollar amount of Public Funds deposited at a specific Depository less the total dollar amount of Public Funds deposited at the Depository that are covered by insurance of any Federal Deposit Insurance Agency.
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Public Funds on Deposit means the total dollar amount of Public Funds deposited at a specific Depository. Public Funds on Deposit includes, but is not limited to, all funds held in Deposit accounts, as defined by IC 5-13-4-7, in any account subject to withdrawal by negotiable orders of withdrawal, in passbook savings accounts, in certificates of deposit, in money market deposit accounts, and in any interest-bearing account that is authorized to be set up and offered by a financial institution in the course of its business. If a Depository can determine the total dollar amount of Public Funds that are on deposit and are covered by the insurance of any Federal Deposit Insurance Agency, the Public Funds on Deposit for such Depository shall be defined as the total dollar amount of Public Funds deposited at a specific Depository less the total dollar amount of Public Funds deposited at the Depository that are covered by insurance of any Federal Deposit Insurance Agency. For purposes of a collateralization requirement under these Rules, a Depository subject to Article 3 may deduct the total dollar amount of Public Funds deposited in Certificates of Deposit prior to November 15, 2010 from the total amount of Public Funds on Deposit in calculating the Public Funds on Deposit for collateralization purposes. If a Depository elects to make the deduction described in the preceding sentence, it must submit a schedule to the Board specifically identifying each certificate of deposit, its dollar amount, interest rate, date of issuance and the maturity date of each certificate of deposit being deducted from the calculation of total Public Funds on Deposit for collateralization purposes. This schedule shall be submitted to the Board within 15 Business Days of receipt of the Depository's initial Order to receive the benefit of this calculation.
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Public Funds on Deposit means the total dollar amount of Public Funds deposited at a specific Depository. If a Depository can determine the total dollar amount of Public Funds that are on deposit and are covered by the insurance of any Federal Deposit Insurance Agency, the Public Funds on Deposit for such Depository shall be defined as the total dollar amount of Public Funds deposited at a specific Depository less the total dollar amount of Public Funds deposited at the Depository that are covered by insurance of any Federal Deposit Insurance Agency. For purposes of a collateralization requirement under these Rules, a Depository subject to Article 3 may deduct the total dollar amount of Public Funds deposited in Certificates of Deposit prior to November 15, 2010 from the total amount of Public Funds on Deposit in calculating the Public Funds on Deposit for collateralization
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Examples of Public Funds on Deposit in a sentence

  • A use right accrues to land and not to a person, unless the exceptional circumstances of a specific person requires the allocation of a use right which is not intended for successors in title of that person in respect of specific land.

  • The largest number of allegations against police related to abuse of authority, followed by neglect of duty.

  • Pursuant to IC 5-13-13-7(e), an eligible Depository may, at any time, elect to pledge and deliver to the Board, which, at the discretion of the Board, may be to a Restricted Securities Account at the Depository's Federal Reserve Bank, Eligible Collateral in an amount equal to One Hundred Percent (100%) of its Public Funds on Deposit.

  • To insure the security of Public Funds on Deposit, the Board has determined to establish a framework for requiring the collateralization of such Public Funds maintained at Depositories throughout the State.

  • As a Financial Institution must be designated as a Depository for Public Funds of the State in order to be designated as a Depository for Public Funds of political subdivisions, the authority of the State Board of Finance extends to the supervision of Public Funds on Deposit at a Financial Institution desiring to be a Depository of Public Funds of political subdivisions.

  • If a Depository’s approved status is revoked, it shall be required to collateralize its remaining Public Funds on Deposit at a 100% Collateralization Level.

  • If the Board's Order requires the Depository to deliver Eligible Collateral to the Custodian, the Depository shall calculate the Public Funds on Deposit at the Close of Business on each Business Day and report this total to the Board through the Board's electronic reporting system and the Board's Custodian, if collateral has been pledged and delivered to the Board Custodian, daily.

  • Capitol Suite 900, Indianapolis, IN 46204-2043 Office: 317-232-5257 – Email: BFD@tos.in.gov Bank Name: City: Quarterly Report Due Date: Public Funds on Deposit 1.

  • Pursuant to IC 5-13-13-7(e), an eligible Depository may, at any time, elect to pledge and deliver to the Board, which, at the discretion of the Board, may be to a Restricted Securities Account at the Depository’s Federal Reserve Bank, Eligible Collateral in an amount equal to one hundred percent (100%) of its Public Funds on Deposit.

  • He or she shall invest the funds in the manner authorized by M.G.L Chapter 44, s 55 (Public Funds on Deposit; Limitations; Investments,) s 55A, (Liability of Depositor for Losses Due to Bankruptcy), s 55B (Investment of Public Funds).

Related to Public Funds on Deposit

  • Sums on deposit means the balance payable on a multiple-party account including interest, dividends, and in addition any deposit life insurance proceeds added to the account by reason of the death of a party.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Cash Deposit means a cash security deposit in U.S. dollars held by AT&T-21STATE.

  • the Deposit means 10% of the Purchase Price;

  • Disbursement Account means any Deposit Account maintained by Borrower with a financial institution for the purpose of receiving and disbursing the proceeds of Loans made pursuant hereto.

  • Initial Reserve Account Deposit means $3,000,000.

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Loss Proceeds Account has the meaning set forth in Section 3.3(a).

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).

  • Fund Deposit means the deposit of funds transferred by the Client or the Client's Authorized person and credited to the Company Account for transfer to the Client's Account.

  • Investment Account As defined in Section 3.12(a).

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,802,496.17.

  • Investment Accounts means the Collateral Account, Securities Accounts, Commodities Accounts and Deposit Accounts.

  • Direct Account : means any Account which is not an ISA Account.

  • Cash Collateral Account Agreement With respect to any Mortgage Loan, the cash collateral account agreement, if any, between the originator of such Mortgage Loan and the related Mortgagor, pursuant to which the related Cash Collateral Account, if any, may have been established.

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Revenue Account means the Revenue Account established pursuant to the Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Depository Account includes any commercial, checking, savings, time, or thrift account, or an account that is evidenced by a certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument maintained by a Financial Institution in the ordinary course of a banking or similar business. A Depository Account also includes an amount held by an insurance company pursuant to a guaranteed investment contract or similar agreement to pay or credit interest thereon.

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee with the Bank in its trust department for the benefit of the Securityholders in which all amounts paid in respect of the Debentures shall be held and from which the Property Trustee shall make payments to the Securityholders in accordance with Sections 401 and 402.

  • Initial Deposit shall have the meaning set forth in Section 2.5(a).

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Merchant Account means an account used to submit credit card or debit card transactions or process credit card or debit card transactions.