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This website publishes administrative rules on their effective dates, as designated by the adopting state agencies, colleges, and universities.

Rule 113-40-05 | Collateral sufficiency.

 

(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.

Last updated August 11, 2023 at 8:30 AM

Supplemental Information

Authorized By: R.C. 135.182
Amplifies: R.C. 135.18, R.C. 135.182
Five Year Review Date: 8/10/2028
Prior Effective Dates: 8/6/2017