Nebraska Administrative Code
Topic - INVESTMENT COUNCIL
Title 213 - NEBRASKA INVESTMENT COUNCIL
Chapter 1 - PROCEDURES FOR DISTRIBUTION OF FUNDS TO BANKS, CAPITAL STOCK FINANCIAL INSTITUTIONS, AND QUALIFYING MUTUAL FINANCIAL INSTITUTIONS
Section 213-1-004 - COLLATERAL

Universal Citation: 213 NE Admin Rules and Regs ch 1 ยง 004
Current through March 20, 2024

All deposits over the amount insured or guaranteed by the Federal Deposit Insurance Corporation shall be secured by collateral as required by the Public Funds Deposit Security Act. A list of acceptable securities that may be pledged are defined by the Nebraska Capital Expansion Act and the Public Funds Deposit Security Act. For the purpose of the investments for which the State Investment Officer is responsible by law, he or she may choose to restrict the types and classes of investments he or she will accept as collateral. For the purposes of the funds distributed to banks, capita! stock financial institutions, and qualifying mutual financial institutions, the collateral restriction may occur because of the difficulty in valuing certain types of collateral or the difficulty in collecting on the collateral in the case of a bank default.

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