Regulatory Alerts2018-09-05 | I-18-03I-18-03 — Public Depository Eligible Investment-Collateral Applications
The Washington State Department of Financial Institutions issued Interpretive Letter I-18-03 to authorize the expedited approval of investment waiver applications for state-chartered credit unions. This guidance permits credit unions to invest in securities eligible as collateral for uninsured public funds under RCW 39.58.050, even if those securities are not listed as permissible investments under RCW 31.12.436. Credit unions must demonstrate that such investments are safe and prudent for their specific operations to receive this limited investment authority.
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