Ohio Admin. Code 113-7-04 - Collateral and insurance

(A) Each eligible credit union receiving interim moneys under the various linked deposit programs authorized under section 135.61 of the Revised Code shall provide security for the repayment of all interim moneys by securing all uninsured public deposits of the state as set forth in divisions (B) to (J) of section 135.18 of the Revised Code.

(B) The treasurer of state shall not take into account private share insurance held by an eligible credit union when calculating the uninsured amount of public moneys held by such eligible credit union. All public moneys held by an eligible credit union that are not insured by the national credit union administration or another agency or instrumentality of the federal government are uninsured public deposits that must be collateralized in accordance with section 135.18 of the Revised Code.

(C) The treasurer of state will not accept private excess share insurance as collateral for interim moneys held by an eligible credit union pursuant to the various linked deposit programs authorized under section 135.61 of the Revised Code.

Replaces: 113-7-05

Notes

Ohio Admin. Code 113-7-04

Effective: 1/1/2024
Five Year Review (FYR) Dates: 12/31/2028
Promulgated Under: 111.15
Statutory Authority: 135.61
Rule Amplifies: 135.61, 135.62, 135.70
Prior Effective Dates: 11/05/2019, 11/07/2021