Vault cash

Vault cash

Cash kept on hand in a depository institution's vault to meet day-to-day business needs, such as cashing checks for customers; can be counted as a portion of the institution's required reserves.

Vault Cash

Capital kept at a bank or other financial institution to cover day-to-day expenses such as cash withdrawals. It is called vault cash because the bulk of it is traditionally kept in a heavily-guarded vault.
References in periodicals archive ?
Can be serviced in only 5-8 hrs per wk w/1 week of vault cash.
If defendants had ever opened the vault, counted the vault cash, reconciled the counted vault cash to the general ledger account or reviewed the balancing sheets prepared by Fortson during the course of their reconciliation of cash accounts, the fraud and embezzlement scheme would have been discovered by defendants," CUMIS added.
Put another way, how much do you invest in your people that is notrelat-ing to operations, such as how to order vault cash, or compliance?
a leading provider of currency supply chain management solutions for the banking industry, announced today that First Citizens Bank has renewed the partnership with a new focus on central vault cash management.
Currency in circulation includes vault cash (coin and Federal Reserve notes held by the depository institutions) and cash held by the general public.
US Bank, the lead bank of US Bancorp (NYSE: USB), has agreed to purchase the ATM and kiosk terminal management services, cash management and vault cash operations of the Electronic Banking Solutions (EBS) division of Palm Desert National Bank (PDNB).
Key figures in the report also included the third quarter's money reserves or vault cash plus amount in demand accounts (M1), which stood at BD1.
All depository institutions must hold a percentage of certain types of deposits as reserves in the form of vault cash, as a deposit in a Federal Reserve Bank, or as a deposit in a pass-through account at a correspondent institution.
The new Lloyds vault cash facility will release these funds and the group is now liquid and able to fund its proposed development from existing resources.
To provide customers with payments-related services, banks hold assets in two forms that also qualify as reserves: vault cash and balances deposited in Federal Reserve accounts.
The data set used in this analysis does not include any vault cash data, since vault cash did not count as a legal reserve in this period.
Vault cash limits should be based on the volume of cash required for daily operation, the number of segregated cash containment facilities inside the vault or safe, and the Underwriters Laboratories (UL) ratings of these individual containment facilities.