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E.1. Vault Cash

E.1. Vault Cash . Julie Powell, Business Specialist 216/579-2085. E.1. Why are assets collected on a deposits report? Considered – Reserves (i.e. Satisfy reserve requirement) May be used at any time to satisfy depositors’ claims Must be reported to apply. E.1. Yes or No

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E.1. Vault Cash

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  1. E.1.Vault Cash Julie Powell, Business Specialist 216/579-2085

  2. E.1 • Why are assets collected on a deposits report? • Considered – Reserves • (i.e. Satisfy reserve requirement) • May be used at any time to satisfy depositors’ claims • Must be reported to apply

  3. E.1 Yes or No • May gold or silver be counted as vault cash? • May coin sent to a coin wrapper be included as vault cash? • May a depository sell its excess vault cash to another depository – overnight? • Are redeemed savings bonds vault cash? • May vault cash held at another depository be included as vault cash?

  4. E.1 Yes or No • May gold or silver be counted as vault cash? No, Section 19c of the Federal Reserve Act: 1. Not in the form of reserves 2. Not U.S. currency 3. Bullion or coin exceeds face value

  5. E.1 Yes or No • May coin sent to a coin wrapper be included as vault cash? Yes, if : 1. Still an asset 2. Immediately available

  6. E.1 Yes or No • May a depository sell its excess vault cash to another depository – overnight? No – typically viewed as reserve avoidance

  7. E.1 Yes or No • Are redeemed savings bonds vault cash? No, not U.S. currency

  8. E.1 Yes or No • May vault cash held at another depository be included as vault cash? Yes, if: 1. Full ownership 2. Immediately available – nearby 3. The depository storing does not count

  9. E.1 • What are includable items • US currency and coin in the vault/teller drawer • US currency and coin in transit to Fed or correspondent • ATM currency • US currency and coin in other vaults – exceptions

  10. E1 • Transit currency and coin • To a FRB; if you have not received credit • From a FRB; already charged

  11. E1 Legitimate Differences • Call Report – foreign currency is on the Call This is applicable to all organization types

  12. E1 Questions?

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