Related to:
Proposed

209 CMR 47: Parity with federal or out-of-state banks

Date: 05/19/2006
Organization: Division of Banks
Regulatory Authority: M.G.L. c. 167F, § 2, clause 31.; c. 30A, § 8.
Official Version: Published by the Massachusetts Register

This is an unofficial version of Commonwealth regulations and is posted here for the convenience of the public. It is not an official statement of the regulations.

47.09(2)

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.

  1. 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.
     
  2. 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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