Expedited Funds Availability Act - EFAA
- Expedited Funds Availability Act - EFAA
- The Expedited Funds Availability Act (EFAA) was implemented to regulate the hold periods on deposits made to commercial banks. Enacted by U.S. Congress in 1987, the EFAA also standardized financial institutions' use of the deposit holds. The EFAA specifies the types of holds that banks can utilize on a check deposit, depending on the type of account and the amount of the deposit.
The Expedited Funds Availability Act intends to standardize the handling of deposit holds. Banks and other financial institutions must inform customers of their policies regarding deposit holds, as well as any changes to the policies.
Investment dictionary.
Academic.
2012.
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Expedited Funds Availability Act — The Expedited Funds Availability Act (EFA or EFAA) was enacted in 1987 by the United States Congress for the purpose of standardizing hold periods on deposits made to commercial banks and to regulate institutions use of deposit holds. It is also… … Wikipedia
EFAA — An acronym for Expedited Funds Availability Act … International financial encyclopaedia
ЗАКОН О СРОКАХ ПОЛУЧЕНИЯ ИНКАССИРУЕМЫХ СУММ — EXPEDITED FUNDS AVAILABILITY ACT EFAAЗакон, установивший графики получения со счетов ден. средств для всех депозитных учреждений, в т. ч. график временного получения средств по операциям с банкометами, не принадлежащими данному учреждению. Срок… … Энциклопедия банковского дела и финансов
