Minnesota Administrative Rules
Agency 120 - Commerce Department
Chapter 2675 - FINANCIAL INSTITUTIONS
INVESTMENTS
Part 2675.1130 - INVESTMENT QUALITIES

Universal Citation: MN Rules 2675.1130

Current through Register Vol. 49, No. 13, September 23, 2024

Securities, in order to be eligible for purchase by state banks, must be in the form of bonds, notes, and/or debentures, and must be of recognized investment quality. Eligible securities are those which are included among the four highest ratings of the rating services, and nonrated securities of equivalent value. With regard to the ratings, the following items shall apply:

A. A security rated by only one service will be designated as an eligible security if it is rated within the first four grades by that service.

B. A security rated by two services will be designated as an eligible security if it is rated within the first four grades by both services.

C. A security rated by three services will be designated as an eligible security if it is rated within the first four grades by two of those services.

Statutory Authority: MS s 46.01

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