Tenn. Comp. R. & Regs. 0180-16-.03 - AMOUNT OF SPECIAL RESERVE

Current through March 20, 2022

The amount of the special reserve shall meet or exceed the suggested range of amounts for banks' blanket bond coverage as scheduled from time to time by the American Bankers Association, Security and Risk Management Division. For convenience, this schedule is incorporated in this rule. The amounts shown are subject to the approval by the commissioner since the extent and methods of banking operations, even in banks of similar size, may warrant carrying higher amounts.

Minimum Amounts of Bankers Blanket Bond Required

To Obtain Excess Fidelity Coverage

By Deposit Size

Deposit Size* Dollars) (Thousands of Minimum Underlying Amount of Bankers Blanket Bond
(Thousands of dollars)
GROUP 1: Less than 750 250
GROUP 2: 750 to 1,500 250
GROUP 3: 1,500 to 2,000 250
GROUP 4: 2,000 to 3,000 250
GROUP 5: 3,000 to 5,000 250
GROUP 6: 5,000 to 7,500 250
GROUP 7: 7,500 to 10,000 300

GROUP 8: 10,000 to 15,000 375
GROUP 9: 15,000 to 20,000 450
GROUP 10: 20,000 to 25,000 525
GROUP 11: 25,000 to 35,000 675
GROUP 12: 35,000 to 50,000 825
GROUP 13: 50,000 to 75,000 1,050
GROUP 14: 75,000 to 100,000 1,275
GROUP 15: 100,000 to 150,000 1,800
GROUP 16: 150,000 to 250,000 2,500
GROUP 17: 250,000 to 500,000 3,750
GROUP 18: 500,000 to 1,000,000 6,000
GROUP 19: 1,000,000 to 2,000,000 9,000
GROUP 20: 2,000,000 and over 9,000

*Average of total deposits reported in the latest June 30 and December 31 financial statements.

Notes

Tenn. Comp. R. & Regs. 0180-16-.03
Original rule filed August 13, 1986; effective November 29, 1986.

Authority: T.C.A. ยงยง 45-1-107 and 45-2-403; Public Chapter 865, Acts of 1986.

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