[Code of Federal Regulations]
[Title 12, Volume 2]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 12CFR217.2]

[Page 455]
 
                       TITLE 12--BANKS AND BANKING
 
                   CHAPTER II--FEDERAL RESERVE SYSTEM
 
PART 217--PROHIBITION AGAINST THE PAYMENT OF INTEREST ON DEMAND DEPOSITS (REGULATION Q)--Table of Contents
 
Sec. 217.2  Definitions.

    For purposes of this part, the following definitions apply unless 
otherwise specified;
    (a) Demand deposit means any deposit that is considered to be a 
demand deposit under Sec. 204.2(b) of the Board's Regulation D--Reserve 
Requirements of Depository Institutions (12 CFR part 204).
    (b) Deposit means any liability of a member bank that is considered 
to be a deposit under Sec. 204.2(a) of the Board's Regulation D--Reserve 
Requirements of Depository Institutions (12 CFR part 204).
    (c) Foreign bank means any bank that is considered to be a foreign 
bank under Sec. 204.2(o) of the Board's Regulation D--Reserve 
Requirements of Depository Institutions (12 CFR part 204).
    (d) Interest means any payment to or for the account of any 
depositor as compensation for the use of funds constituting a deposit. A 
member bank's absorption of expenses incident to providing a normal 
banking function or its forbearance from charging a fee in connection 
with such a service is not considered a payment of interest.