[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR226.2]

[Page 79]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 226--RECOGNITION OF INSURANCE COVERING TREASURY TAX AND LOAN DEPOSITARIES--Table of Contents
 
Sec. 226.2  General.

    (a) Deposit or account insurance provided by the Federal Deposit 
Insurance Corporation, the Federal Savings and Loan Insurance 
Corporation, and the National Credit Union Share Insurance Fund, is 
hereby recognized. Deposits or accounts which are insured by a State or 
agency thereof, or by a corporation chartered by a State for the sole 
purpose of insuring deposits or accounts of financial institutions 
eligible to be Treasury tax and loan depositaries (hereinafter referred 
to as Insurance Arrangement), shall be approved as provided herein. Such 
approval constitutes recognition for the purpose of reducing the amount 
of collateral required of a tax and loan depositary by the amount of 
recognized insurance coverage pursuant to 31 CFR 203.15.
    (b) Generally, these regulations and their associated guidelines 
require that an organization providing insurance maintain a corpus of 
sufficient value and liquidity, and/or that it have sufficient State 
borrowing authority, in relation to its liabilities and total insured 
savings (or deposits) to provide adequate security to the Government's 
deposits and that adequate monitoring of the financial condition of the 
insured institutions is conducted.