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 ?
C3 Financial is a SaaS solution that manages branch, ATM, device and vault cash. Deposit Reclassification, also known as a retail sweep program, is a Federal Reserve Board acknowledged practice that reduces reserve requirement through classifying an institution's checking accounts as savings, which are not subject to reserve requirements.
(3) Excludes vault cash used to satisfy required reserves.
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.
Cash Connect(r) is a premier provider of ATM vault cash and smart safe and cash logistics services in the United States.
The Federal Reserve requires depository institutions in the United States to hold a certain fraction of their deposits as reserves--either as vault cash or on deposit with a Federal Reserve Bank.
Can be serviced in only 5-8 hrs per wk w/1 week of vault cash. Ideal PT or use as an invstmnt.
"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?
For instance, a depositor withdraws Rs100 from a commercial bank, both vault cash and the deposits of the bank declines by the same amount (see Panel A).
The new services include: Currency Management Solution, powered by Transoft Inc; Vault Cash Verification; Mobile Banking Solution, developed in partnership with with mSHIFT; ATM Marketing Hosted Solution; Check21 ATM Solution; and RiskWatch IT Assessments, developed in partnership with RiskWatch International.
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).