(1) highest rating: Obligor's capacity to meet its commitment on the obligation is strong. (2) 2nd highest rating: Somewhat more susceptible to the adverse affects of changes in circumstances and economic conditions; however, the obligor's capacity to meet its financial commitment on the obligation is satisfactory. (3) 3rd highest rating: Obligation exhibits adequate protection parameters; however, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity of the obligor to meet its financial commitment on the obligation. (4) 4th highest rating: Having significant speculative characteristics; obligor currently has the capacity to meet its financial commitment on the obligation; however, it faces major ongoing uncertainties which could lead to the obligor's inadequate capacity to meet its financial commitment on the obligation. (These summarize Standard & Poor's ratings.)
Fiscal Estimate
This rule will have no fiscal impact on the Division of Savings Institutions. The required review of a savings bank's compliance with this rule will be done as part of routine examinations with existing personnel and resources.
Initial Regulatory Flexibility Analysis
This rule will impose on all savings banks -- including savings banks covered by the definition of “small business” under s.227.114(1)(a), Stats. -- with the requirement of maintaining sufficient liquidity to meet cash demands. Exempting small businesses from this rule would be contrary to this objective and not in the best interests of the public.
Text of Rule
Pursuant to the authority in the Division of Savings Institutions in the Department of Financial Institutions by s.214.715(1)(d), Stats., the division administrator renumbers and amends s.DFI-SB 3.08(3) and adopts s.DFI-SB 3.08(4) (i) relating to the definition of “primary liquid assets” in the liquidity rule for savings banks.
SECTION 1. SB 3.08 (3) is renumbered and amended to read:
DFI-SB 3.08 (3) A liquid asset shall be either cash or an obligation authorized for investment by a savings bank. Liquid assets do not include equity investments, loans, except marketable corporate debt instruments which are rated in one of the 4 highest ratings by a nationally recognized rating service, and loan receivables
and equity investments.
SECTION 2. DFI-SB 3.08 (4) (i) is created to read:
DFI-SB 3.08 (4) (i) Marketable corporate debt instruments which are rated in one of the 4 highest ratings by a nationally recognized rating service. In this par., marketable corporate debt instruments shall have a remaining maturity of no more than 36 months.
NOTE: “DFI-SB” will prefix the numbers of all savings bank administrative rules (currently prefixed “SB”) to indicate the merger of the agency regulating savings banks into the department of financial institutions as the savings institutions division.
Notice of Submission of Proposed Rules to the Presiding Officer of each House of the Legislature, Under S. 227.19, Stats.
Please check the Bulletin of Proceedings for further information on a particular rule.
Ch. DOC 326 - Relating to leave for qualified inmates.
Ch. DOC 325 - Relating to the temporary release of an inmate under supervision.
Ch. DOC 324 - Relating to the inmate work and study release program.
Health and Family Services
(CR 97-2):
Ch. HFS 125 - Relating to do-not-resuscitate (DNR) bracelets to alert emergency health care personnel of do-not-resuscitate orders.
Health and Family Services
(CR 97-8):
Ch. HSS 70 - Relating to loans to help establish group homes for recovering substance abusers.
Ch. Ins 23 - Relating to minimum standards for life insurance policies sold to fund prearranged funeral plans.
Chs. NR 102, 105, 106 and 207 - Relating to surface water quality standards, criteria and their implementation procedures.
Chs. NR 502, 503, 506, 512, 514, 516 and 520 - Relating to solid waste management.
Ch. PD 1 - Relating to the certification of private bar attorneys.
S. PD 2.06 - Relating to the assignment of trial division cases to the private bar.
S. DWD 56.08 - Relating to administration of child care funds and required parent copayments.
Administrative Rules Filed With The
Revisor Of Statutes Bureau
The following administrative rules have been filed with the Revisor of Statutes Bureau and are in the process of being published. The date assigned to each rule is the projected effective date. It is possible that the publication of these rules could be delayed. Contact the Revisor of Statutes Bureau at (608) 266-7275 for updated information on the effective dates for the listed rules.
An order amending s. Bkg 73.01, relating to adjustment service companies.
Effective 07-01-97.
An order repealing ch. DOD 13 and creating ch. Comm 113, relating to the annual allocation of volume cap on tax-exempt private activity bonds.
Effective 07-01-97.
An order creating ch. ERB 6, relating to reimbursement procedures for regional and local hazardous materials emergency response teams when a person responsible cannot be found or when the person responsible is unable or unwilling to pay.
Effective 06-01-97.
An order amending s. PD 3.02, relating to the cost of retained counsel.
Effective 06-01-97.
An order creating ch. DWD 58, relating to higher quality of care standards for child care providers, and the administration of staff retention grants for providers who meet the higher quality of care standards and quality improvement grants for providers who need assistance in meeting the higher quality of care standards.
Effective 07-01-97.
An order affecting chs. ILHR 272 and DWD 272, relating to the minimum wage.
Effective 06-01-97.
The State of Wisconsin
Department of Administration
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