Regulation D Disclosure
Q: What is Federal Regulation "D"?
A: Regulation "D" requires financial institutions that offer Checking Accounts (also known as Transaction Accounts) to maintain enough money in the Federal Reserve System to cover outstanding checks should the institution fail. Although China Everbright Bank Group is a financially sound institution, we are still required to comply with this Regulation.
Q: So What Does the Regulation Mean to Me?
A: Regulation "D" requires China Everbright Bank Group to keep track of monthly transactions on Savings and Money Market Accounts (also known as Non-Transaction Accounts). Regulation "D" limits these types of transactions to six (6) per month.
Q: Can You Summarize the Types of Transactions that Count for Regulation "D" on Non-Transaction Accounts Such as Savings or Money Market?
A: Generally speaking, any combination of the following transactions cannot exceed six (6) per calendar month on Non-Transaction Accounts:
- Transfers made through 24-Hour Telephone Teller
- Overdrafts to checking
- Transfers made over the telephone (telephone transfers)
- Transfers made through China Everbright Bank Group Online Banking
- Automated Clearing House (ACH) or Electronic Funds Transfer (EFT) transactions
- Monthly automatic transfers
- Checks clearing a Money Market account
Q: Which Types of Transactions are Unlimited on Non-Transaction Accounts?
A: As a general rule of thumb, you may perform an unlimited number of transactions that you make in person or that you authorize with your signature, such as:
- Transfers made through an ATM
- Transfers made in person and with your signature
- Cashier's checks withdrawn from your account and mailed to you
- Loan payments to China Everbright Bank Group loans