FL H0145

Amends section 280.13, Florida Statutes, regarding eligible collateral requirements for letters of credit issued by Federal Home Loan Banks

Revises the rating standard for Federal Home Loan Bank obligations from requiring triple-A rating to allowing a rating at or above the long-term sovereign credit rating of the United States if triple-A rating is no longer maintained

Allows Federal Home Loan Bank letters of credit to remain eligible as collateral even if their credit rating falls below triple-A, provided they meet the U.S. sovereign credit rating threshold

Takes effect July 1, 2013