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Alabama State Banking Board Regulation No. 1: Investment Securities
The Alabama State Banking Board issued Regulation No. 1 to establish comprehensive rules for the investment securities activities of banks under its jurisdiction. The regulation mandates robust corporate governance, requiring boards to approve investment policies, conduct risk assessments, and perform quarterly portfolio reviews. It defines eligible security types, classification standards for sub-investment quality assets, and imposes specific limits on derivatives, community development securities, and bank-owned life insurance.
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