N.J. Admin. Code § 3:6-10.2

Current through Register Vol. 57, No. 1, January 6, 2025

Section 3:6-10.2 - Limitation on such investments

A bank or savings bank may sell unsecured days funds (term Federal funds) to any insured bank, as defined in N.J.A.C. 3:6-10.1, provided the total amount sold to any one insured bank does not exceed 15 percent of the capital funds of the bank or savings bank as reported in the latest consolidated report of condition on file with the Department of Banking and Insurance.

Amended by R.1991 d.171, effective 4/1/1991.
See: 23 New Jersey Register 147(a), 23 New Jersey Register 998(a).
Changed from 10 percent to 15 percent.
Amended by R.2001 d.203, effective 6/18/2001.
See: 33 New Jersey Register 926(a), 33 New Jersey Register 2079(c).
Inserted "bank or" preceding "savings bank" throughout and substituted "capital funds" for "surplus" following "15 percent of the".