The average FHLB member's housing-related assets make up 19 percent of total assets, while the average nonmember bank
holds roughly 14 percent of its assets in housing-related loans.
It should be noted that nonmember bank
reserve requirements were determined by the respective states, and usually took the form of interbank deposits or government securities.
As a result, Senator Hardwick of Georgia introduced an amendment that would have added to Section 16 the proviso that nothing in the Act shall be construed as prohibiting a member or nonmember bank
from "making reasonable charges, but in no case to exceed 10 cents per $100 .
The original statement strongly encouraged each state nonmember bank
to adopt an external auditing program that included an annual financial statement audit by an outside auditor.
1st Centennial Bank (the "Bank") is a state-chartered nonmember bank
that was wholly-owned by 1st Centennial.
Huberfeld did not seek the prior approval of the FDIC under section 19 of the Federal Deposit Insurance Act before an investment was made in what became The NorCrown Trust, an unregistered bank holding company that owns more than 99 percent of the voting shares of NorCrown Bank, Livingston, New Jersey, an insured state nonmember bank
A nonmember bank
may not engage in underwriting in the bank itself because Glass-Steagall's section 21 prohibits such activities for member and nonmember banks
The application for the conversion of Pacific Western to a state-chartered nonmember bank
is subject to state and federal regulatory approval.
The Federal Reserve Board on August 24, 2004, announced the issuance of a consent notice of prohibition against Charles Kushner, an institution-affiliated party of The NorCrown Trust, an unregistered bank holding company that owns or controls the shares of the NorCrown Bank, Livingston, New Jersey, a state nonmember bank
Costs of Reserves and the Relative Size of Member and Nonmember Bank
Demand Deposits," Journal of Monetary Economics (November 1978), pp.
data continued to be collected on call reports, typically two per year until 1960, when thereafter four per year were required.
Immediately after North Fork' s acquisition of Commercial Bank, North Fork's lead subsidiary bank, North Fork Bank, Melville, New York, a state-chartered nonmember bank
, would acquire substantially all Commercial Bank's assets and assume substantially all Commercial Bank's liabilities.