Proposed Amendments to 209 CMR 47.00 et seq., Parity with Federal or Out-of-State Banks
209 CMR 47.09(2) is hereby amended by adding at the end thereof the following:
(e) Limitation on Obligations of a Foreign Government or a Political Subdivision Thereof.
- The total obligations of a foreign country or a political subdivision thereof to a bank engaged in a global custody business that has no less than five billion dollars of foreign currency denominated deposits shall be limited to 40 percent of capital as defined in M.G.L. c. 167E, § 1.
- The total obligations of all foreign governments and political subdivisions thereof to a bank engaged in a global custody business that has no less than five billion dollars of foreign currency denominated deposits shall not be subject to any aggregate limitation.
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