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Short-Term Investment Funds

banking-occ · OCC · Rule · Published 2020-03-25 · Effective 2020-03-23 · 85 FR 16888

Document

Document number
2020-06293
Federal Register citation
85 FR 16888
CFR reference
12 CFR 9
Type
Rule
Action
Interim final rule and request for comment.
Category
banking-occ
Sub-agency
OCC
Publication date
2020-03-25
Effective date
2020-03-23
Treasury docket
Docket No. OCC-2020-0012

Abstract

The OCC is adopting an interim final rule to revise the OCC's short-term investment fund (STIF) rule (STIF Rule) for national banks acting in a fiduciary capacity. Sudden disruptions in the financial markets have created conditions that may constrain the ability of a national bank's management team to execute certain elements of a STIF's written investment policy, specifically with regard to investment plan components addressing the weighted average maturity and weighted average life of the STIF's investment portfolio. The OCC is issuing this interim final rule to allow national banks to operate affected STIFs on a limited-time basis with increased maturity limits under these circumstances.

Source

Authoritative
Federal Register document
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