Capital equivalency deposits.

CFR · 2024-01-01 · US · Title 12

(a) (i) Investment securities eligible for investment by national banks; (ii) United States dollar deposits payable in the United States or payable in any other Group of Ten country; (iii) Certificates of deposit, payable in the United States, and banker's acceptances, provided that, in either case, the issuer has an adequate capacity to meet financial commitments for the projected life of the asset or exposure. An issuer has an adequate capacity to meet financial commitments if the risk of default by the obligor is low and the full and timely repayment of principal and interest is expected; (iv) Repurchase agreements; or (v) Other similar assets permitted by the OCC to qualify to be included in the CED. (2) (3) (b) (c) (d) (1) May not be reduced in value below the minimum required for that branch or agency without the prior approval of the OCC, but in no event below the statutory minimum; (2) Must be maintained pursuant to an agreement prescribed by the OCC that shall be a written agreement entered into with the OCC for purposes of section 8 of the Federal Deposit Insurance Act, 12 U.S.C. 1818; and (3) Must be free from any lien, charge, right of setoff, credit, or preference in connection with any claim of the depository bank against the foreign bank. (e)(1) (2) (f)

official document · source cfr-2024 · id 12:§ 28.15