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DE HB412
Bill
Status
8/29/2018
Primary Sponsor
Bryon Short
Click for details
AI Summary
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Expands the definition of pledging and hypothecating limitations in § 918 to apply to guarantees, credit exposures, and other potential liabilities in addition to borrowings.
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Exempts banks and trust companies supervised by federal banking agencies from state pledging and hypothecating limitations if the activity is permitted under applicable federal law, regulations, or orders.
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Clarifies that assets pledged under subsection (a) shall not count toward minimum capital stock and paid-in surplus requirements under § 745.
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Updates technical language regarding repledging and rehypothecation, including references to counterparties and property delivered to institutional accounts.
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Makes conforming changes to modernize the statute to align with current banking practices while maintaining safety and soundness standards.
Legislative Description
An Act To Amend Title 5 Of The Delaware Code Relating To Limitations On Pledging Or Hypothecating Assets Of Banks And Trust Companies.
Last Action
Signed by Governor
8/29/2018