CT HB05418

Allows Connecticut banks to satisfy electronic data processing service change notices to the commissioner by providing a copy of the notice sent to the Federal Deposit Insurance Corporation under 12 USC 1867.

Revises the definition of "influence real estate appraisals" to prohibit causing appraisal values to be based on any factor other than the independent judgment of the appraiser, using broader language regarding coercion, extortion, inducement, bribery, intimidation, compensation, instruction or collusion.

Defines "uninsured public deposit" as the portion of a public deposit not insured or guaranteed by the Federal Deposit Insurance Corporation or National Credit Union Administration, with exceptions for redeposited amounts in federally insured accounts.

Modifies collateral requirements for qualified public depositories to apply percentages (10-120%) based on risk-based capital ratios to uninsured public deposits rather than all public deposits.

Expands letter of credit options for securing public deposits to include any federal home loan bank with highest credit ratings or deemed acceptable by the commissioner, rather than limiting to the Federal Home Loan Bank of Boston.