Regulatory Alerts2001-03-08
Added · Updated
State Banking Board Approval of Bank of North Dakota Certificates of Deposit for Pledge to Public Funds
The North Dakota State Banking Board approved Bank of North Dakota certificates of deposit as eligible securities for pledging to public corporation deposits under North Dakota Century Code Section 21-04-09. This decision, made on March 8, 2001, responds to a request from the Bank of North Dakota to allow financial institutions to use these certificates as collateral for temporary deposits. The Board unanimously voted to authorize this pledge mechanism to facilitate liquidity management for member banks.
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