N.J. Admin. Code § 3:6-10.1

Current through Register Vol. 57, No. 1, January 6, 2025

Section 3:6-10.1 - Description; unsecured days funds

Unsecured days funds transactions represents the sale of excess funds, usually on an unsecured basis, for a period longer than overnight or a weekend. Such transactions are commonly referred to as "term federal funds". Sales are restricted to an insured bank which is defined as being a commercial bank whose deposits are insured by the Federal Deposit Insurance Corporation.