Kansas Administrative Regulations
Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER
Article 9 - INVESTMENT SECURITIES
Section 17-9-7 - Investment securities; repurchase
Universal Citation: KS Admin Regs 17-9-7
Current through Register Vol. 43, No. 52, December 26, 2024
(a) Subject to the limitation in subsection (b) of this regulation, a bank may purchase and sell investment securities under a repurchase agreement if one or more of the following provisions is part of the repurchase agreement:
(1) the bank has the option or right to
require the seller of the securities to repurchase them from the bank at a
price stated in the agreement, or at a price subject to determination under the
terms of the agreement, but in no case less than the value at the time of the
repurchase;
(2) the seller or the
seller's nominee reserves the right or the option to repurchase the securities
for a price stated or at a price subject to determination under the terms of
the agreement, but in no case shall the option be for an amount less than the
value at the time of the initial purchase;
(3) the bank selling securities has an option
or right to repurchase the securities from the buyer at a price stated or at a
price subject to determination under the terms of the agreement; or
(4) the seller or a third party guarantees
the bank against loss on resale of the securities.
(b) The total amount that any bank has committed to repurchase at any one time from the state of Kansas or its political subdivisions shall not exceed a sum equal to 10 times the bank's capital and surplus.
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