Night Depositories and Official Bank Signs

FDIC--94--17

March 28, 1994

Adrienne George, Attorney

In answer to your letter of March 25, it is my view that the official bank sign, which is required to be displayed by 12 C.F.R. § 328.2, need not be displayed on night depositories. FDIC regulations do not specifically reference night depositories, but FDIC staff has generally taken the view that deposits are not "received" by the bank when the deposits are placed in a night depository; hence, no sign is required.

I hope that this information will prove useful to you. If I can be of any further help, I can be reached at (202) 898-3859.