The purpose and effect is to amend existing rule to conform with and implement Chapter No. 2022-178, Laws of Florida, which was signed into law on June 8, 2022. The legislation updated the requirements a bank must meet in ....

 

DEPARTMENT OF FINANCIAL SERVICES

FSC - Financial Institution Regulation

RULE NO.:RULE TITLE:

69U-140.015Capital Equivalency or Asset Maintenance

PURPOSE AND EFFECT: The purpose and effect is to amend existing rule to conform with and implement Chapter No. 2022-178, Laws of Florida, which was signed into law on June 8, 2022. The legislation updated the requirements a bank must meet in order to be a depository at which an international bank agency or international branch may maintain its dollar deposits or investment securities, and the rule will be updated to include these requirements.

SUBJECT AREA TO BE ADDRESSED: Regulation of Financial Institutions

RULEMAKING AUTHORITY: 655.012(2), 663.13, 663.07(1), F.S.

LAW IMPLEMENTED: 663.07(1), (3), (5), (7), (9), 663.12(4) F.S.

IF REQUESTED IN WRITING AND NOT DEEMED UNNECESSARY BY THE AGENCY HEAD, A RULE DEVELOPMENT WORKSHOP WILL BE NOTICED IN THE NEXT AVAILABLE FLORIDA ADMINISTRATIVE REGISTER.

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: Ann Michelle Palecki, [phone], [e-mail]

THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS AVAILABLE AT NO CHARGE FROM THE CONTACT PERSON LISTED ABOVE.