Iowa Admin. Code r. 191-49.5

Current through Register Vol. 47, No. 5, August 21, 2024

Rule 191-49.5 - Trading requirements

Each derivative instrument qualifying for legal reserve purposes under Iowa Code section 5118(22). shall be:

1. Traded on a qualified exchange;

2. Entered into with, or guaranteed by, a business entity with an investment grade rating by the NAIC Securities and Valuation Office or by a majority of nationally recognized statistical rating organizations (NRSRO), on the NAIC/NRSRO list, that rate the business entity;

3. Issued or written by, or entered into with, the issuer of the underlying interest on which the derivative instrument is based; or

4. Entered into with a qualified foreign exchange.

Iowa Admin. Code r. 191-49.5