§ 344.7 What are Demand Deposit securities?
§ 344.8 What other provisions apply to subscriptions for Demand Deposit securities?
§ 344.9 How do I redeem a Demand Deposit security?

Terms Used In CFR > Title 31 > Subtitle B > Chapter II > Subchapter A > Part 344 > Subpart C

  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Contract: A legal written agreement that becomes binding when signed.
  • Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Issuer: refers to the Government body or other entity that issues state or local government bonds described in section 103 of the Internal Revenue Code. See 31 CFR 344.1
  • SLGS rate: means the current Treasury borrowing rate, less one basis point, as released daily by Treasury in a SLGS rate table. See 31 CFR 344.1
  • your: refers to a SLGS program user or a potential SLGS program user. See 31 CFR 344.1