12 CFR 969.2 - Deposits from members.

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Title 12: Banks and Banking

CHAPTER IX: FEDERAL HOUSING FINANCE BOARD

SUBCHAPTER H: FEDERAL HOME LOAN BANK LIABILITIES

PART 969: DEPOSITS

969.2 - Deposits from members.

Banks may accept demand and time deposits from members, reserving the right to require notice of intention to withdraw any part of time deposits. Rates of interest paid on all deposits shall be set by the Bank's board of directors (or, between regular meetings thereof, by a committee of directors selected by the board) or by the Bank President, if so authorized by the board. Unless otherwise specified by the board, a Bank President may delegate to any officer or employee of the Bank any authority he possesses under this section.

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