Section 1161.35. Borrowing

Latest version.

(A) A savings bank may borrow money and may pledge and otherwise encumber any of its assets to secure its debts. All borrowings under this section shall comply with the applicable rules and regulations of the federal deposit insurance corporation regarding the borrowings and with rules adopted by the superintendent of savings banks in accordance with Chapter 119. of the Revised Code.
(B) The superintendent shall establish, by rule adopted in accordance with Chapter 119. of the Revised Code, standards of safety and soundness regarding the following:
(1) Investments in securities under repurchase or reverse repurchase agreements;
(2) Investment limits for repurchase or reverse repurchase agreements with a single broker-dealer or similar entity;
(3) Collateralization requirements for reverse repurchase agreements or other similar instruments.

Effective Date: 10-23-1991

                    
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