CLASS NOTESBANKING 101

Bank’s main competitors are credit unions, consumer finance companies, insurance companies, mutual funds and securities brokerages.

Federal reserve act of 1913 established the federal reserve system commonly called the fed The Fed Funds Rate is a short term indicator of the changes in monetary policy. Increase = the

fed is attempting to slow the economy. Decrease= the fed is seeking rapid economic growth. Interest Income + Interest expense + FTP Expense + Provision for credit losses = Net Interest

Income Fee & Service Charge Revenue = Debit Card Revenue = ATM Revenue =Other Earnings=Non-

Interest Income Comp & Benefits + Occupancy & Equipment + Advertising + Deposit Account Losses + Divisional

Assessments + Corporate Assessments + Other Expenses = Non- Interest Expense GL ReconciliationPermanent GLS

48319 – Permanent Teller over/short48320 – Permanent Coin Counter Losses48323 – Permanent Vault Difference – RM Approval48324 – Permanent ATM Write off (under $1)48308 – Permanent ATM over/short48405 – Permanent Customer Resolution – RM Approval

FOUNDATIONS OF OPS 2 Business continuity - info updates in the event of a disaster/business disruption – 1-866-TCF-

NEWS Canadian checks < than $5000. Canadian checks and foreign checks are sent to the Federal

Reserve Bank Hard holds – complete the hard hold removal request form, key dhol to delete the hold. RM

approval SLP holds – LP personnel authorizes to physically remove SLP hold. Only Assistant Vice

Presidents and above are authorized to remove the SLP Document Storage at Iron Mountain: Order Records Retention Packet from purchasing

department which contains enough materials for 25 boxes. Customer id is G1425 Invoices- for every bill complete an Invoice Authorization forms. Make copes and sent original

bills and form to accounts payable @ 380-02-0 Collection letters: No letter sent if less than $20.00

20.00-99.99; letter is sent after being negative 61 days100.00 or more; letters sent at 5 days negative, 15 days, 30 days

Study Business continuity quiz

BRANCH IMAGE CAPTURE Encoding errors: Research of Transaction Request form Scans must be completed before 11am, 1om, 4pm and end of Within each transaction credits are scanned before debits BIC work retained for14 days (do not send if items remain in 17850) Queued items: item that has been captured but is still being processed to detect image or MICR

line quality Skewed items: item was scanned at an angle causing a crooked image. Proper scanning prevents

this Error messages

60017 Canadian items are not allowed 60018 This item failed image quality for the following reasons 60042 loan payments are not allowed 60042 MICR lie not read

Contact Branch Banking for Support

CLICK2STAFF Three panes within the Schedule Now window: My Team, Schedule Navigator, Scheduling

Manager What page do you use most often in the Scheduling application: Schedule Now in order to add a

new team member: Team Management What are two ways to shift the date range in the Schedule Now: scroll over, the calendar Where in the application do you navigate? Non-exempt employees: 20 min uninterrupted lunch break when working 5 ½ hours or more

BUSINESS ACCOUNTS Sole proprietorship : owned and managed by one person EXAMPLE:JOHN SMITH FINANCIAL

SERVICESTax payer id: SSN or EINDocuments: Assumed name certificate is need if the business name does not have the authorized signer’s full nameAuthority to act: When adding an authorized signer such as a secretary, “Bank Depository Declaration for Sole Proprietor Business Account” form is neededAdditional documents to verify sole prop needed; business card, business brochure, business invoice

General Partnership: association of two or more persons to carry on as co-owners of the business for profit EXAMPLE: JONES, SMITH AND ANDERSONTax payer id: EINDocuments: Partnership agreement and an Assumed Name Certificate

General partners have unlimited personal liability

Limited Liability Partnership : LLP partners are not liable for debt, obligations and liabilities or chargeable to the partnerships arising from negligence, wrongful acts, omissions, misconduct or malpractices EXAMPLE: TRAVELING GIRLS LLPTax payer id: EINDocuments: State filed LLP Registration

Corporation: legal entity and is the most complex form of organization. Corps may sell shares of stocks.

Tax payer id: EINDocuments: State filed Articles of IncorporationForeign authority docs needed when the corp, is not doing business in the state where they filed their paperwork.

Non for profit corporation: As a public charity, the organization must prove to the IRS that they are tax exempt. Exempt purposes are defined as an organization that is; religious, charitable, testing for public safety, scientific, literary,.

Tax payer id: must apply for tax exempt id from IRS or 503 ©(3)Documents: state filed articles of incorporation and nonprofit federal exempt statusNo owners, Board of directors acts as a group that makes decisions

Franchise : a right granted to an individual or a group to market a company’s goods or services within a certain territory or location. May be a corporation, LLC, type of partnership or sole prop. EXAMPLE; ON HE RUN DBA SUBWAY

Tax payer id: EIN Documents: Franchise agreement

Filmable Teller Work in order?What year was TCF profitableReg cc, reg gg regulationsSignature guarantee amount for tcf account holdersAuthorization limits