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Can you summarize MNAC 2675.2246?

FINANCIAL INSTITUTIONS > CERTIFICATE OF DEPOSIT OF OTHER FINANCIAL INSTITUTIONS.

Short Summary

Where a bank makes a direct investment in a certificate of deposit of another financial institution, such investment shall not exceed its legal lending limit as provided in Minnesota Statutes, section 48.24 ; however, this limitation shall apply only to that portion, if any, of the investment which is not insured by an agency of the United States. Statutory Authority: MS s 46.01 History: 9 SR 1689 Published Electronically: September 14, 2007

Jurisdiction

Minnesota

Source
MNAC 2675.2246 [https://reggi.cloud.regology.com/regulations/US-MNAC/US-MNAC_D_120_C_2675_P_2246]