Nevada Administrative Code
Chapter 356 - Depositories of Public Money and Securities
Section 356.120 - Collateral pools: Required agreements

1. A depository that receives notification from a public depositor that wishes to participate in a collateral pool at the depository pursuant to NAC 356.110 shall execute an agreement with the State Treasurer, in a format approved by the State Treasurer, to pledge and maintain collateral against the uninsured deposits of the public depositor. Such an agreement must:

2. Except as otherwise provided in this subsection, if a depository that receives notification from a public depositor that wishes to participate in a collateral pool at the depository pursuant to NAC 356.110 has not yet established a collateral pool on the date of receipt of the notification, the depository shall execute an agreement with the State Treasurer and a third-party depository, in a format approved by the State Treasurer, to pledge and maintain collateral against the uninsured deposits of the public depositor at the third-party depository for the benefit of the State Treasurer. If the depository elects to use the Federal Reserve Bank as the third-party depository, the terms specified in the Operating Circulars of the Federal Reserve Banks governing book-entry securities apply.

3. An agreement entered into pursuant to subsection 2 with a third-party depository other than the Federal Reserve Bank must include a provision that requires the third-party depository to maintain only acceptable securities as pledged collateral from depositories.