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Target rate
Rate set by a bank's ALCO as a desirable objective in repricing maturing deposits or loans. This is also referred to as the internal rate of return, which is known as the hurdle rate.
Third-party service provider
Organization that performs any function of ACH processing of entries on behalf of the originator, third-party sender, ODFI, or RDFI (not including the originator, ODFI, or RDFI acting in such capacity) for such entries.
Time deposit account
An account with a maturity of at least seven (7) days in which the consumer generally does not have a right to make withdrawals for six (6) days after the account is opened, unless the deposit is subject to an early withdrawal penalty of at least seven (7) days' interest on the amount withdrawn.
TISA
See Truth in savings act (TISA).
Established uniform guidelines for how banks and other financial institutions disclose information about deposit accounts to individuals. Designed to help promote competition between depository institutions and make it easier for consumers to compare interest rates, fees and terms associated with savings institutions' deposit accounts.
