Alaska Administrative Code
Title 3 - Commerce, Community, and Economic Development
Part 1 - Banking, Securities, Small Loans and Corporations
Chapter 02 - Banking
Article 2 - Banking Practices
3 AAC 02.195 - Borrowing

(a) Neither a bank's federal funds purchased nor its sale of securities, which a bank may deal in, underwrite, purchase, and sell for its own account without limitation, subject to an agreement that the bank will repurchase at the end of a stated period, constitute "money borrowed" for purposes of AS 06.05.255.

(b) The purchase of securities subject to an agreement that the seller will repurchase at the end of a stated period is regarded as a loan from the purchaser to the seller and not as an obligation of the underlying obligor or the security.

(c) The department will consider a bank's written request to allow a percentage larger than 15 percent of the bank's total assets, up to a maximum of 35 percent, under AS 06.05.255.