Nonmember bank

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Nonmember bank

Depository institution that is not a member of the Federal Reserve System. Specifically, a state-chartered commercial bank that has elected not to join the System.

Nonmember Bank

In the United States, a state-chartered bank that has opted not to join the Federal Reserve System. Such banks are required to place a certain number of their accounts at a Federal Reserve Bank so as to meet reserve requirements. However, nonmember banks allowed access to the Federal Reserve's discount window are not required to purchase stock in the Federal Reserve. In general, nonmember banks are less regulated than member banks. For example, they are allowed to keep at least a portion of their reserves in interest-bearing securities. They are subject only to the laws of the states in which they are chartered.
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Valley Republic Bank is an insured, state-chartered, non-member bank of the Federal Reserve System.
CU Bancorp, headquartered in Los Angeles, , is the parent of California United Bank, a California state-chartered non-member bank, with approximately USD 3bn in assets and nine branches located in Los Angeles, Orange, Ventura and San Bernardino counties at 31 December 2016.
CU Bancorp, headquartered in Los Angeles, CA, is the parent of California United Bank, a California state-chartered non-member bank, with approximately $3.
Worcester, Massachusetts, which is a state non-member bank supervised by the FDIC.
As of September 30, 2009, Doral Bank PR and Doral Bank NY were in compliance with the regulatory capital requirements that were applicable to them as a state non-member bank and federal savings bank, respectively (ie.
Andrew Voysey, Director of Finance Sector Platforms at Cambridge Institute for Sustainability Leadership declared: The BEI has been pleased to work with BNP Paribas for over a year as a non-member bank that adopted the BEI s Soft Commodities Compact with the Consumer Goods Forum.
First NBC, headquartered in New Orleans, Louisiana, offers a broad range of financial services through its banking subsidiary, First NBC Bank, a Louisiana non-member bank.
The Milton Banking Company operates as a full service, state-chartered, non-member bank and offers a broad array of deposit and loan services to customers, including mortgage, consumer and commercial loans.
FirstCity Bank, headquartered in North Palm Beach, Florida, is a Florida chartered non-member bank.
First NBC, headquartered in New Orleans, Louisiana, offers a range of financial services through its wholly-owned banking subsidiary, First NBC Bank, a Louisiana state non-member bank.
In late November 2001, California Center Bank completed its conversion from a member bank under the supervision of the Federal Reserve Board ("FRB") to a non-member bank under the supervision of the FDIC.
Those non-member banks operated in an environment similar to that which existed before the Federal Reserve was established in 1914.