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Code of Federal Regulations (Last Updated: November 8, 2024) |
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Title 12 - Banks and Banking |
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Chapter V - Office of Thrift Supervision, Department of the Treasury |
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Part 550 - Fiduciary Powers of Savings Associations |
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Subpart B - Exercising Fiduciary Powers |
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Funds Awaiting Investment or Distribution |
§ 550.310 - What if the FDIC does not insure the deposits?
Latest version.
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§ 550.310 What if the FDIC does not insure the deposits?
If the FDIC does not insure the entire amount of a self deposit, you must set aside collateral as security. If the FDIC does not insure the entire amount of an affiliate deposit, you or your affiliate must set aside collateral as security. The market value of the collateral must at all times equal or exceed the amount of the uninsured fiduciary funds. You must place the collateral under the control of appropriate fiduciary officers and employees.
[62 FR 67703, Dec. 30, 1997, as amended at 67 FR 76299, Dec. 12, 2002]