New Jersey Administrative Code
Title 3 - BANKING
Chapter 11 - INVESTMENTS
Subchapter 8 - SAVINGS BANKS INVESTMENT SECURITIES
Section 3:11-8.2 - Approved foreign obligations
Universal Citation: NJ Admin Code 3:11-8.2
Current through Register Vol. 56, No. 18, September 16, 2024
(a) Pursuant to 17:2-10, savings banks are authorized to invest in the development bonds of foreign governments and obligations of international development banks provided:
1. The principal and interest of the
individual issue is payable in United States dollars;
2. The aggregate total of all such
investments made pursuant to this subchapter shall not exceed five percent of
the institution's capital deposits, surplus and reserves; and
3. Such obligations are approved by the
comptroller of the currency for investment by national banks.
(b) A list of obligations approved for such investment shall be kept on file in the office of the Commissioner and will be available upon written request.
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