Collateral sufficiency.

(A) In calculating the collateral percentage required at a bank account level, OPCS will require the greater of the following two calculations: (1) The public unit (PU) negotiated collateral requirement plus the cushion collateral requirement; or (2) The reduced collateral floor requirement plus any bank monitoring collateral requirement, any economic monitoring requirement, and any cushion collateral requirement. (B) In calculating collateral sufficiency, the treasurer of state will: (1) Use existing market pricing available through a reputable source to determine the collateral valuation to calculate the collateral sufficiency. (a) The treasurer will share the source of market pricing upon request. (b) A financial institution (FI) may challenge this collateral valuation, but the treasurer shall make the final determination. (2) Conduct a daily review of collateral sufficiency based upon the collateral requirement calculation and the collateral valuation. (a) A FI may challenge this collateral sufficiency, but the treasurer shall make the final determination. (b) A FI will be notified by the treasurer of any collateral deficiencies, and will be responsible to address the deficiencies in accordance with the operating policies. Effective: August 10, 2023 Promulgated Under: 119.03 Supplemental Information Authorized By: R.C. 135.182 Amplifies: R.C. 135.18 , R.C. 135.182 Five Year Review Date: 8/10/2028 Prior Effective Dates: 8/6/2017