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Title 12: Banks and Banking
CHAPTER IX: FEDERAL HOUSING FINANCE BOARD
SUBCHAPTER H: FEDERAL HOME LOAN BANK LIABILITIES
PART 965: SOURCE OF FUNDS
965.1 - Definitions.
As used in this part:
Deposits in banks or trust companies means:
(1) A deposit in another Bank;
(2) A demand account in a Federal Reserve Bank;
(3) A deposit in, or a sale of Federal funds to:
(i) An insured depository institution, as defined in section 2(12)(A) of the Act (12 U.S.C. 1422(12)(A)), that is designated by a Bank's board of directors;
(ii) A trust company that is a member of the Federal Reserve System or insured by the FDIC, and is designated by a Bank's board of directors; or
(iii) A U.S. branch or agency of a foreign bank, as defined in the International Banking Act of 1978, as amended (12 U.S.C. 3101 et seq.), that is subject to the supervision of the FRB, and is designated by a Bank's board of directors.
Repurchase agreement means an agreement in which a Bank sells securities and simultaneously agrees to repurchase those securities or similar securities at an agreed upon price, with or without a stated time for repurchase.
[65 FR 36298, June 7, 2000, as amended at 67 FR 12853, Mar. 20, 2002]
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