Terminating Transfer [Banks & Banking] Law and Legal Definition
According to 12 CFR 327.8 [Title 12 -- Banks and Banking; Chapter III -- Federal Deposit Insurance Corporation; Subchapter B -- Regulations and Statements of General Policy; Part 327 – Assessments; Subpart A -- in General], terminating transfer means “the assumption by one insured depository institution of another insured depository institution's liability for deposits, whether by way of merger, consolidation, or other statutory assumption, or pursuant to contract, when the terminating institution goes out of business or transfers all or substantially all its assets and liabilities to other institutions or otherwise ceases to be obliged to pay subsequent assessments by or at the end of the assessment period during which such assumption of liability for deposits occurs. The term terminating transfer does not refer to the assumption of liability for deposits from the estate of a failed institution, or to a transaction in which the FDIC contributes its own resources in order to induce a surviving institution to assume liabilities of a terminating institution.”
Legal Definition list
- Terminating Transfer [Banks & Banking]
- Terminating Committee
- Terminated Portion of the Contract
- Terminally Ill
- Terminal Railroad Corporation [Internal Revenue]
- Termination
- Termination Agreement
- Termination at Will
- Termination by Agreement
- Termination Charges for a Leverage Contract
- Termination Date [Banks & Banking]
