Indiana Administrative Code
Title 750 - DEPARTMENT OF FINANCIAL INSTITUTIONS
Article 3 - CREDIT UNIONS
Rule 3 - Reserve Requirements
Section 3-2 - Risk assets defined
Universal Citation: 750 IN Admin Code 3-2
Current through March 20, 2024
Authority: IC 28-1-2-7
Affected: IC 28-7-1-9
Sec. 2.
For the purpose of this regulation [ 750 IAC 3-3 ], the term:
(a) Risk Assets shall mean all assets except the following:
(1) Cash on hand.
(2) Deposits and/or shares in Federally or
State insured banks, savings and loan associations, and credit
unions.
(3) Investments which are
direct or indirect obligations of the U.S. Government or its
agencies.
(4) Loans to other credit
unions.
(5) Student loans insured
under the Higher Education Act (
20
U.S.C. 1071 et. seq.) or similar State
insurance programs.
(6) Loans
insured under the National Housing Act (
12 U.S.C.
1703 ) by the Federal Housing
Authority.
(7) Common trust
investments authorized by the Indiana Credit Union Act [IC
28-7-1-9(c)(3) ].
(8)
Prepaid expenses.
(9) Accrued
interest on nonrisk investments.
(10) Furniture and equipment.
(11) Land and buildings.
(12) Loans fully secured by a pledge of
shares in the lending credit union, equal to and maintained to at least the
amount of loan outstanding.
(13)
Loans which are purchased from liquidating credit unions and guaranteed by an
insuring agency of the Federal government, the State of Indiana or any agency
approved by the Department to insure credit union share accounts.
IAC citation in Indiana Register is incorrectly cited as 750 IAC 3-2-2.
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