Restrictions on investments of idle funds by leveraged Licensees.

CFR · 2024-01-01 · US · Title 13

(a) (b) (1) Direct obligations of, or obligations guaranteed as to principal and interest by, the United States, which mature within 15 months from the date of the investment; or (2) Repurchase agreements with federally insured institutions, with a maturity of seven days or less. The securities underlying the repurchase agreements must be direct obligations of, or obligations guaranteed as to principal and interest by, the United States. The securities must be maintained in a custodial account at a federally insured institution; or (3) Mutual funds, securities, or other instruments that exclusively consist of, or represent pooled assets of, investments described in paragraphs (b)(1) or (b)(2) of this section; or (4) Certificates of deposit with a maturity of one year or less, issued by a federally insured institution; or (5) A deposit account in a federally insured institution, subject to a withdrawal restriction of one year or less; or (6) A checking account in a federally insured institution; or (7) A reasonable petty cash fund. (c) (2) Exception: You may make a temporary deposit (not to exceed 30 days) in excess of the insured amount, in a transfer account established to facilitate the receipt and disbursement of funds or to hold funds necessary to honor Commitments issued. (d)

official document · source cfr-2024 · id 13:§ 107.530