Ohio Administrative Code
Title 113 - Treasurer of State
Chapter 113-40 - Collateral Requirement
Section 113-40-05 - Collateral sufficiency
Universal Citation: OH Admin Code 113-40-05
Current through all regulations passed and filed through March 18, 2024
(A) In calculating the collateral percentage required at a bank account level, OPCS will require the greater of the following two calculations:
(1)
The public unit
(PU) negotiated collateral requirement plus the cushion collateral requirement;
or
(2)
The reduced collateral floor requirement plus any bank
monitoring collateral requirement, any economic monitoring requirement, and any
cushion collateral requirement.
(B) In calculating collateral sufficiency, the treasurer of state will:
(1)
Use existing
market pricing available through a reputable source to determine the collateral
valuation to calculate the collateral sufficiency.
(a)
The treasurer
will share the source of market pricing upon request.
(b)
A financial
institution (FI) may challenge this collateral valuation, but the treasurer
shall make the final determination.
(2)
Conduct a daily
review of collateral sufficiency based upon the collateral requirement
calculation and the collateral valuation.
(a)
A FI may
challenge this collateral sufficiency, but the treasurer shall make the final
determination.
(b)
A FI will be notified by the treasurer of any
collateral deficiencies, and will be responsible to address the deficiencies in
accordance with the operating policies.
Replaces: 113-40-06
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