Domestic Retail Deposit Activity Law and Legal Definition

According to 12 CFR 347.202 [Title 12 -- Banks and Banking; Chapter III -- Federal Deposit Insurance Corporation; Subchapter B -- Regulations and Statements of General Policy; Part 347 -- International Banking; Subpart B -- Foreign Banks], domestic retail deposit activity means “the acceptance by a Federal or State branch of any initial deposit of less than an amount equal to the standard maximum deposit insurance amount ("SMDIA").”