Data Dictionary
Item Number 2394
DEBITS TO ATS ACCOUNTS AND NOW ACCOUNTSCall confidentiality applies to FFIEC 031/041.
| Series | Start Date | End Date | Confidential? | Reporting Forms |
|---|---|---|---|---|
| DBIT2394 | 1978-12-31 | 1993-12-31 | Yes | FR 2573 |
Data Description:
Includes all debits to ATS and NOW accounts. Excludes debits to MMDA accounts. ATS accounts are deposits of individuals that are authorized for automatic transfer to demand deposit or other accounts pursuant to written agreement arranged in advance between the reporting entity and the depositor. A telephone transfer is not considered an automatic transfer; thus, an account subject solely to telephone transfer is not considered an ATS account. NOW (negotiable order of withdrawal) accounts are interest-bearing deposits that can be withdrawn or transferred to third parties by issuance of a negotiable or transferable instrument. May be maintain by individuals, nonprofit organizations and proprietorships and states and political subdivisions. Governmental units are eligible to maintain NOW accounts only if the funds are in the name of, or are to be used exclusively by schools, libraries, colleges, universities, hospitals, or other educational or medical facilities. Pursuant to the DIDC action taken on December 6, 1982, effective January 5, 1983, "Super NOWs" are NOW accounts containing an agreement between depositor and depository such that, providing certain conditions--including a minimum balance requirement even though one is not required by regulation after December 31, 1985, and some or all funds deposited are eligible to earn more than 5.25 percent. Excludes Money Market Deposit Accounts (MMDA's). COMPARABILITY: Prior to 9/30/92, includes "Super NOW" accounts. Prior to 1/1/86, the minimum balance requirement was $1,000. Prior to 1/1/85, the minimum balance requirement was $2,500. Prior to 1/5/83, excludes "Super NOW" accounts. Prior to 6/1/80, excludes Negotiable Order Of Withdrawal (NOW) accounts.