Request for additional authority.

CFR · 2024-01-01 · US · Title 12

(a) (1) Borrowing repurchase transaction maximum maturity mismatch of 30 days under § 703.13(d)(3)(ii). (2) Zero-coupon investment 10-year maximum maturity under § 703.14(i), up to a maturity of no more than 30 years. (3) CMRS aggregate limit of 25% of net worth under § 703.14(j), up to no more than 50% of net worth. To obtain approval for additional authority, the federal credit union must demonstrate three consecutive years of effective CMRS portfolio management and the ability to evaluate key risk factors. (b) (1) A copy of the credit union's investment policy; (2) The higher limit sought; (3) An explanation of the need for additional authority; (4) Documentation supporting the credit union's ability to manage the investment or activity; and (5) An analysis of the credit union's prior experience with the investment or activity. (c) (d)

official document · source cfr-2024 · id 12:§ 703.20