Examples of State member bank in a sentence
The expense of examination of affiliates of any State member bank may, in the discre- tion of the Board of Governors of the Federal Reserve System, be assessed against such bank and, when so assessed, shall be paid by such bank.
The term ‘‘uninsured State member bank’’ means a State member bank (as defined in section 3 of the Federal Deposit Insurance Act) the deposits of which are not insured by the Federal Deposit Insurance Corporation.
This section shall not apply to any interest held by a State member bank in accordance with sec- tion 24a of this title and subject to the same conditions and limitations provided in such sec- tion.(Dec.
Except as provided in paragraph (a) of this section, every State member bank effecting securities transactions for customers, including transactions in government securities, and municipal securities transactions by banks not subject to registration as municipal securities dealers, shall maintain the following records with re- spect to such transactions for at least three years.
Reports concerning changes in control of a State member bank are to be made by the president or other chief executive officer of the bank, and shall be submitted to the Federal Reserve Bank of its district.
Reports concerning loans by an insured bank on the stock of a State member bank are to be made by the president or other chief executive offi- cer of the lending bank, and shall be submitted to the Federal Reserve Bank of the State member bank on the stock of which the loan was made.
Nothing contained in this section prohibits a State member bank from accepting deposits or cashing or otherwise handling checks or other negotiable instruments, or performing other lawful banking services for a State operating a lottery, or for an officer or employee of that State who is charged with the administration of the lottery.
For purposes of this paragraph, sec- tion 84 of this title shall be deemed to apply to a State member bank as if the State member bank were a national banking association.
Where the bank resulting from any such transaction is a State member bank, the Board of Governors is the agency that must pass on the trans- action.
CLEARING BANK.—The term ‘‘clearing bank’’ means an uninsured State member bank, or a corporation organized under section 25A of the Federal Reserve Act, which oper- ates, or operates as, a multilateral clearing or- ganization pursuant to section 409 1 of the Fed- eral Deposit Insurance Corporation Improve- ment Act of 1991.(Added Pub.