Board of Governors of the Federal Reserve System

Data Dictionary

Item Number 2514

Call confidentiality applies to FFIEC 031/041.

Data Description:

Includes as time deposits: (1)   Funds that are payable on a specified date not less than seven days after the date of deposit or payable at the expiration of a specified time not less than seven days after the date of deposit, or payable only upon written notice that is actually required to be given by the depositor not less than seven days prior to withdrawal. (2)   Time certificates of deposit (including roll-over certificates of deposit), whether evidenced by negotiable or nonnegotiable instruments. (3)   Time deposits, open account, evidenced by written contracts. (4)   Club accounts, such as Christmas club, vacation club or other similar club accounts that are not maintained as savings deposits, that are deposited under written contracts providing that no withdrawal shall be made until a certain number of periodic deposits have been made during a period of not less than three months even though some of the deposits may be made within six days from the end of the period. (5)   Savings certificates, notice accounts, and passbook accounts (but not savings deposits). (6)   Funds received or held in escrow accounts that meets the criteria for a time deposit. (7)   Interest-bearing and noninterest-bearing time deposits. (8)   Individual Retirement Account (IRA) funds or Keogh Plan accounts held in the form of time deposits. (9)   Time deposits held by an employer as part of an unfunded deferred compensation plan established pursuant to subtitle D of the Revenue Act of 1978 (Pub. L. No. 95-600; 92 Stat. 2763). (10) Time deposits maintained as compensating balances or pledged as collateral for loans. (11) All interest paid by crediting time deposit accounts. (12) Time deposit accounts at non-U.S. offices of the reporting depository institution when the deposit is payable in the U.S. or is guaranteed payable at a U.S. office. (13) The reporting institution's liability on primary obligations that are issued in original maturities of seven days or more to nonexempt entities. (14) Due bills that are issued to any U.S. or non-U.S. entity in original maturities of seven days or more. (15) Credit balances that meets the criteria for time deposits. (16) Any funds received by the reporting institution's affiliate and later channeled to the reporting institution by the affiliate in the form of a time deposit. Excludes: (1)   Any deposit or account that otherwise meets the definition of a time deposit but that allows withdrawals within the first six days after the date of deposit and that does not require an early withdrawal penalty of at least seven days' simple interest on amounts withdrawn within those first six days. Such deposits or accounts that meets the definition of a savings deposit are reported as savings deposits in item 2389; or otherwise they are reported as demand deposits in items 2698, 2280, or 2340. (2)   The remaining balance of a time deposit if a partial early withdrawal is made and the remaining balance is not subject to additional early withdrawal penalties of at least seven days' simple interest on amounts withdrawn within six days after each partial withdrawal. Such time deposits that meets the definition of a savings deposit are reported as savings deposits in item 2389; otherwise they are reported as demand deposits in items 2698, 2280, or 2340. (3)   Time deposit accounts maintained in connection with an arrangement that permits the depositor to obtain credit directly or indirectly through the drawing of a negotiable or nonnegotiable check, draft, order or instruction or other similar device (including telephone or electronic order or instruction) on the issuing institution that can be used for the purpose of making payments or transfers to third persons or others, or to a deposit account of the depositor. Such deposits are regarded as transaction accounts and are reported in item 6917. (4)   Any accounts that are TIME DEPOSITS in form but that the Federal Reserve Board has determined, by rule or order, to be TRANSACTION ACCOUNTS. (Reported in the appropriate item of Section A Transaction Accounts for the FR 2900 (EDDS) report.) (5)   Matured time certificates of deposit, even if interest is paid after maturity, unless the deposit provides for automatic renewal at maturity. (6)   Interest accrued on time deposits but not yet paid or credited to a deposit account. (7)   ATS and NOW accounts (reported in item 6917). (8)   Telephone or preauthorized transfer accounts that meets the definition of a transaction account (reported in item 6917). (9)   Savings deposits (reported in item 2389). (10) Deposits for which the reporting institution merely reserves the right to require at least seven days' written notice of an intended withdrawal. (11) Hypothecated deposits. For purposes of the FR 2900 (EDDS) report, hypothecated deposits does not include deposits serving simply as collateral for loans. (12) Funds received and credited to dealer reserve or dealer differential accounts that the reporting institution is not obligated to make available to either the dealer or the dealer's creditors. (13) Funds obtained from state and local housing authorities under loan-to-lender programs involving the issuance of tax exempt bonds and the subsequent lending of the proceeds to the reporting institution for housing finance purposes. (14) Repurchase agreements involving obligations of, or obligations fully guaranteed as to principal and interest by, the U.S. Government or a federal agency, or the shares of a money market mutual fund whose portfolio consists wholly of obligations of, or obligations fully guaranteed as to principal and interest by, the U.S. Government or a federal agency. (15) Borrowings from a Federal Reserve Bank or a Federal Home Loan Bank. (16) Due bills issued to any entity that are collateralized within three business days by securities similar to the securities purchased. (17) Except for due bills, any primary obligation issued or undertaken to obtain funds, regardless of the use of the proceeds, when transacted with the U.S. offices of exempt entities. (18) Subordinated notes and debentures. (19) Certain obligations issued by the reporting institution's nondepository affiliates. These transactions are reported in item 6919 if nonpersonal. (20) Amounts of outstanding bankers acceptances that are created by the reporting institution and that are of the type that are ineligible for discount at Federal Reserve Banks. (21) Any liability of a U.S. branch or agency of a foreign bank to another U.S. branch or agency of the same foreign bank, or the liability of the U.S. office of an Edge or Agreement Corporation to another U.S. office of the same Edge or Agreement Corporation. COMPARABILITY: For the "EDDS" series, prior to 9/23/91, includes the sum of "Time Deposits--Personal (2563)", "Time Deposits--Nonpersonal With Original Maturities of Less Than 1-1/2 Years (2557)" and "Time Deposits--Nonpersonal With Original Maturities of 1-1/2 Years or More (2558)". Prior to 10/31/83, the original maturity and required notice period for time deposits is 14 days or more. Prior to 12/31/80, the original maturity and required notice period for time deposits is 30 days or more. NOTE: For the purpose of the Report of Transaction Accounts, Other Deposits and Vault Cash (EDDS) Report, club accounts are reported by all depository institutions in this item except commercial banks that were members of the Federal Reserve System (a) on or after July 1, 1979, but that withdrew from membership prior to September