TN SB3217

Legislative Description

As enacted, changes requirements for federal home loan banks in regard to the issuance of letters of credit as eligible collateral for public funds to require that the banks be rated "investment grade" by at least one nationally recognized securities rating service instead of being rated in the highest category by at least two nationally recognized securities rating services. - Amends TCA Section 9-4-103(9)(A).

Public Funds and Financing

Last Action

Committee Referrals