### Question
Can you define what nonpersonal time deposits means?


### Answer
**Nonpersonal time deposits** is defined as the following in *12 U.S.C. § 461*:

> a transferable time deposit or account or a time deposit or account representing funds deposited to the credit of, or in which any beneficial interest is held by, a depositor who is not a natural person

#### Citation:
  - *12 U.S.C. § 461*
  - Heading: **CHAPTER 2-NATIONAL BANKS > SUBCHAPTER XIV-BANK RESERVES**

