Or. Admin. Code § 441-505-6010

Current through Register Vol. 63, No. 11, November 1, 2024

Section 441-505-6010 - Deposits Required by Extranational Institutions

(1) The deposit required to be posted by extranational institutions under ORS 713.025(2) shall be:

(a) Five percent of the total liability of each office in this state to Oregon based depositors, plus all acceptances, but excluding accrued expenses and amounts due to and other liabilities of offices, branches, agencies and subsidiaries of the extranational institution; and

(b) An additional $2,500,000 for the protection of depositors and the public interest.

(2) The requirements of subsection (1)(a) shall be adjusted quarterly by the institution with notice to the Director, based on growth or loss of Oregon based deposits for the ending quarter, provided the amount of change is in excess of $25,000.

Or. Admin. Code § 441-505-6010

FCS 1-1998, f. & cert ef. 3-31-98

Stat. Auth.: ORS 713.025

Stats. Implemented: ORS 713.025(2)