North Carolina Administrative Code
Title 20 - STATE TREASURER
Chapter 07 - COLLATERALIZATION OF DEPOSITS
Section .0300 - ESCROW OF SECURITIES
Section 07 .0302 - ESCROW WITH FEDERAL RESERVE BANK OR FEDERAL HOME LOAN BANK

Universal Citation: 20 NC Admin Code 07 .0302

Current through Register Vol. 39, No. 6, September 16, 2024

(a) Securities pledged with a Federal Reserve Bank or a branch thereof shall be deposited under Circular 16 of the Federal Reserve Banks in the name of the State Treasurer in the case of the Pooling Method or the public depositor in the case of the Dedicated Method. The appropriate signature card must be executed.

(b) Securities pledged with a Federal Home Loan Bank or a branch thereof shall be deposited pursuant to Rule .0303(b) of this Section, and pursuant to the terms of the Federal Home Loan Bank's "Pledge Agreement Custody Receipt" which may be in effect from time to time. The pledgee shall be the State Treasurer in the case of the Pooling Method or the public depositor in the case of the Dedicated Method.

Authority G.S. 115C-444(b); 147-79; 159-31(b);
Eff. August 1, 1980;
Readopted with Change Eff. February 1, 1982;
Amended Eff. April 1, 1994;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. April 5, 2016.

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