Section 113-40-05 - Collateral sufficiency(A) In calculating the collateral percentage required at a bank account level, OPCS will require the greater of the following two calculations: (1) The public unit (PU) negotiated collateral requirement plus the cushion collateral requirement; or(2) The reduced collateral floor requirement plus any bank monitoring collateral requirement, any economic monitoring requirement, and any cushion collateral requirement.(B) In calculating collateral sufficiency, the treasurer of state will: (1) Use existing market pricing available through a reputable source to determine the collateral valuation to calculate the collateral sufficiency. (a) The treasurer will share the source of market pricing upon request.(b) A financial institution (FI) may challenge this collateral valuation, but the treasurer shall make the final determination.(2) Conduct a daily review of collateral sufficiency based upon the collateral requirement calculation and the collateral valuation. (a) A FI may challenge this collateral sufficiency, but the treasurer shall make the final determination.(b) A FI will be notified by the treasurer of any collateral deficiencies, and will be responsible to address the deficiencies in accordance with the operating policies.Replaces: 113-40-06
Ohio Admin. Code 113-40-05
Effective: 8/10/2023
Five Year Review (FYR) Dates: 08/10/2028
Promulgated Under: 119.03
Statutory Authority: R.C. 135.182
Rule Amplifies: R.C. 135.18, R.C. 135.182
Prior Effective Dates: 08/06/2017