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 ?
As investment rates and longterm interest rates begin to ascend, it is critical that credit unions tap into their balance sheet to identify non-earning assets such as branch and ATM cash" said David Austin, vice president of CetoLogic, adding implementing a vault cash management tool reduces cash levels by an average of 15% to 25% and cash delivery costs are pared by about 15%, The $810 million Credit Union ONE in Ferndale, Mich.
weekly reporters whose vault cash exceeds their required reserves) the
The monetary base (total currency in circulation plus total reserves plus vault cash of depository institutions not applied to reserve requirements) grew fairly steadily in the first half of 2002.
In the United States, vault cash could not be used to satisfy reserve requirements between 1917 and 1959.
Bancorp (NYSE: USB), has signed an agreement 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).
Beginning in 1959, Federal Reserve member banks were allowed to use both vault cash and deposits at Federal Reserve Banks to satisfy statutory reserve requirements.
PDNB is a nationally chartered and FDIC-insured financial institution with assets exceeding $400 million, and is home to Electronic Banking Solutions, an acknowledged industry leader that provides a variety of electronic banking solutions including vault cash, and cash management to off premise ATMs and self service kiosks, merchant point of sale sponsorship, and stored value prepaid card programs throughout the nation.
Branches keep no vault cash, other than bagged coin from our coin machines.
Banks can satisfy these reserve requirements by holdings of vault cash and balances at Federal Reserve Banks.
Because the new reserve requirements were phased in for these institutions over an eight-year period, many initially found their vault cash more than sufficient to satisfy the requirements.
PDNB is a nationally chartered financial institution with assets exceeding $400 million, and is home to Electronic Banking Solutions, an acknowledged industry leader that provides a variety of electronic banking solutions including vault cash, and cash management to off premise ATMs and self service kiosks, merchant point of sale sponsorship, and stored value prepaid card programs throughout the nation.
Total required balances are calculated as required reserves minus applied vault cash plus required clearing balances.