If we setup an interest bearing account to take on the function and specifications of being a NOW account under 12 USC 1832 - is it Required the word "NOW' has to appear in the account type name specification. e.g. 'XYZ NOW Account' vs 'XYZ Checking Account' (Which will disclose as a NOW account when opened.)

You do not have to use "NOW" in your account names. You can call them "Checking with Interest," "Interesting Checking," or "Sally." You simply have to control who gets one, what information you hand out when opening them, and how you report the balances in your Call Report.

Thank you John - I feel a lot better now. Have a great day.