N.J. Admin. Code § 3:11-8.2

Current through Register Vol. 56, No. 19, October 7, 2024

Section 3:11-8.2 - Approved foreign obligations

(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.

N.J. Admin. Code § 3:11-8.2

R.1977 d.238, eff. 7/7/1977 .
See: 9 New Jersey Register 251(c), 9 New Jersey Register 355(b).