Missouri Code of State Regulations
Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE
Division 1140 - Division of Finance
Chapter 17 - Association Reserves and Liquidity
Section 20 CSR 1140-17.020 - Liquidity
Current through Register Vol. 49, No. 6, March 15, 2024
PURPOSE: This rule establishes the minimum amount of liquid assets required to be maintained by associations.
(1) Liquid Assets Defined. Liquid assets shall include cash on hand and in deposits with banks, including Federal Home Loan Banks, and such other assets as may be determined from time-to-time to qualify under the rules of the federal regulatory agency for associations insured by the Federal Deposit Insurance Corporation.
(2) Associations shall maintain an average daily balance of liquid assets as required from time-to-time by applicable federal regulations for insured associations. For purposes of section 369.224, RSMo, an association shall maintain at a minimum an average daily balance of liquid assets not less than four percent (4%) of the average daily balance of its liquidity base during the preceding calendar month, or such other minimum that the director in his/her discretion may set on a case-by-case basis.
*Original authority: 369.014, RSMo 1971, amended 1982, 1986, 1994; 369.224, RSMo 1971, amended 1983, 1989, 1994; and 369.299, RSMo 1971, amended 1994.
