Nev. Admin. Code § 356.160

Current through November 8, 2024

Section 356.160 - Collateral pools: Duties of State Treasurer

For the purposes of carrying out NRS 356.300 to 356.390, inclusive, the State Treasurer will:

1. Ensure that:

(a) An agreement to pledge and maintain collateral against the uninsured deposits of a public depositor that participates in a collateral pool has been executed pursuant to NAC 356.120 with each depository that maintains a collateral pool.

(b) An agreement to pledge and maintain collateral against the uninsured deposits of a public depositor that participates in a collateral pool has been executed with a third-party depository pursuant to NAC 356.120.

2. Notify a depository of its failure to maintain the minimum amount of acceptable securities as collateral that is required in an agreement executed pursuant to NAC 356.120 within the deadlines established by the State Treasurer for such notification.

3. Make available by electronic mail, by facsimile or on the Internet to authorized personnel of public depositors and depositories the reports submitted pursuant to NAC 356.140 and 356.150.

4. Establish and maintain a recordkeeping system for the purpose of reviewing and analyzing the daily, weekly and monthly reports submitted by public depositors, depositories and third-party depositories pursuant to NAC 356.140 and 356.150 to:

(a) Monitor the type and minimum amount of collateral pledged by a depository at a third-party depository as security for the uninsured balances of deposits of public depositors that participate in a collateral pool at the depository;

(b) Ensure that any account opened at a depository by a public depositor that participates in a collateral pool at the depository is reported for the purposes of NRS 356.360; and

(c) Ensure compliance with an agreement executed pursuant to NAC 356.120.

5. Maintain a current list of participating public depositors, depositories and third-party depositories.

6. Establish and maintain an electronic database for the purposes of the receipt of reports submitted pursuant to NAC 356.140 and 356.150.

Nev. Admin. Code § 356.160

Added to NAC by St. Treasurer by R028-04, eff. 6-30-2004

NRS 356.350, 356.360, 356.390