Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 12 - Banks and Banking |
Chapter IX - Federal Housing Finance Board |
SubChapter B - Federal Housing Finance Board Organization and Operations |
Part 934 - OPERATIONS OF THE BANKS |
§ 934.5 - Deposits from members.
Latest version.
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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.