MONETARY CONTROL ACT & REG D Flashcards
1
Q
Transaction accounts are the key subject of concern to CU under reg D reserve requirements. True or False?
A
2
Q
A share or savings account may have up to, but no more than, 6 automatic or telephonic transfer per month. True or False?
A
3
Q
Online transfers from savings to checking count toward the limit of 6 transfers for savings and money market accounts. True or False?
A
4
Q
If the early w/d penalty on a time deposit (certificate acct) exceeds teh dividends earned on the deposit, the balance of the penalty must be paid from the principal in the account. True or False?
A
5
Q
Limiting the number of transactions on a deposit account is the feature that makes a deosit account a non-reservable liability. True or False?
A
