New Jersey Administrative Code
Title 3 - BANKING
Chapter 6 - GENERAL PROVISIONS
Subchapter 10 - UNSECURED DAYS FUNDS TRANSACTIONS
Section 3:6-10.2 - Limitation on such investments
Universal Citation: NJ Admin Code 3:6-10.2
Current through Register Vol. 56, No. 18, September 16, 2024
A bank or savings bank may sell unsecured days funds (term Federal funds) to any insured bank, as defined in 3:6-10.1, provided the total amount sold to any one insured bank does not exceed 15 percent of the capital funds of the bank or savings bank as reported in the latest consolidated report of condition on file with the Department of Banking and Insurance.
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