member bank

member bank
n.
A bank that is affiliated with the Federal Reserve System.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


member bank
USA
A US depository institution that is a member of the Federal Reserve System. National banks are required to be member banks while qualifying state-chartered banks may elect to become members (referred to as state member banks). State member banks are subject to the primary federal regulatory oversight of the Federal Reserve Board (FRB).
Member banks are required to, among other things:
• Purchase stock in the Federal Reserve System under the FRB's Regulation I (12 C.F.R. pt. 209).
• Follow the general safety and soundness guidelines provided under the FRB's Regulation H (12 C.F.R. pt. 208)

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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