26-2128. LIQUIDITY REQUIREMENTS. (a) Every credit union shall have on hand as a liquidity reserve an amount equal to four percent (4%) of its outstanding shares, certificates of deposit, and certificates of indebtedness. Share or deposit accounts from which a member may withdraw funds by the use of a negotiable instrument shall be subject to the liquidity reserve requirements of subsection (b) of this section and not to the liquidity reserve requirements of this subsection. Said liquidity reserves, except as hereinafter otherwise provided, shall be kept in cash on hand or on deposit subject to check or draft, with any bank or banks or corporate credit union located in the state of Idaho, which shall have been approved by the director as liquidity reserve depositories and shall be computed monthly as follows: on the basis of average daily bank deposits and average daily cash on hand.
(b) Every credit union which provides for its member’s share or deposit accounts from which the member may withdraw funds by the use of negotiable instrument shall have on hand as a liquidity reserve in addition to the liquidity reserve required by subsection (a) of this section an amount equal to ten percent (10%) of its share and deposit accounts which are subject to withdrawal by the use of negotiable instrument. Said liquidity reserves shall be kept in cash on hand or on deposit subject to check or draft, with any bank or banks or corporate credit union located in the state of Idaho which shall have been approved by the director as liquidity reserve depositories and shall be computed monthly as follows: on the basis of average daily bank or corporate credit union deposits, and average daily cash on hand.
(c) Certificates of deposit issued by the Idaho Corporate Credit Union may be included in meeting the requirements of this section. To the extent a credit union is required to maintain reserves pursuant to the monetary control act of 1980 and the implementing regulations of the board of governors of the federal reserve system, as the same is presently enacted and as it may be amended in the future, the reserves required to be so maintained shall be considered as a part of, and not in addition to, the liquidity reserves required by this section.
History:
[26-2128, added 1977, ch. 213, sec. 2, p. 598; am. 1979, ch. 230, sec. 1, p. 629; am. 1981, ch. 260, sec. 1, p. 551; am. 1991, ch. 236, sec. 3, p. 569.]
Structure Idaho Code
Chapter 21 - IDAHO CREDIT UNION ACT
Section 26-2103 - SUPPLEMENTARY GENERAL PRINCIPLES OF LAW APPLICABLE.
Section 26-2104 - DEFINITION AND USE OF TERMS.
Section 26-2105 - ORGANIZATION.
Section 26-2107 - RESTRICTIONS.
Section 26-2109 - POWER TO ACQUIRE AND HOLD REAL PROPERTY.
Section 26-2111 - EXPULSION AND WITHDRAWAL FROM FIELD OR MEMBERSHIP.
Section 26-2112 - FISCAL YEAR.
Section 26-2113 - MEMBER VOTING.
Section 26-2113A - ANNUAL MEMBERSHIP MEETINGS.
Section 26-2113B - SPECIAL MEMBERSHIP MEETINGS.
Section 26-2114 - BOARD OF DIRECTORS — ELECTION OF DIRECTORS — TERMS — VACANCIES — MEETINGS — RULES.
Section 26-2114A - BOARD MEMBERS — QUALIFICATIONS.
Section 26-2114B - OFFICIALS — FIDUCIARY DUTY — RELIANCE ON INFORMATION.
Section 26-2116 - BOARD OF DIRECTORS — POWERS AND DUTIES.
Section 26-2117 - PENALTIES FOR OFFICIAL MISCONDUCT.
Section 26-2118 - CREDIT COMMITTEE — APPOINTMENT — DUTIES.
Section 26-2120 - LIMIT ON LOAN AMOUNT — LOANS TO ONE BORROWER.
Section 26-2120A - LIMIT ON LOAN MATURITY.
Section 26-2121 - SUPERVISORY COMMITTEE — MEMBERSHIP — TERMS — VACANCIES.
Section 26-2121A - SUPERVISORY COMMITTEE DUTIES.
Section 26-2121B - SUSPENSION OF MEMBERS OF THE BOARD BY SUPERVISORY COMMITTEE — FOR CAUSE.
Section 26-2121C - SUSPENSION OF MEMBERS OF THE BOARD OR SUPERVISORY COMMITTEE BY BOARD — FOR CAUSE.
Section 26-2121D - REMOVAL OF DIRECTOR OR SUPERVISORY COMMITTEE MEMBER.
Section 26-2122 - COMPENSATION — CREDIT UNION MANAGER, EMPLOYMENT.
Section 26-2123 - SHARES AND CERTIFICATES OF DEPOSIT.
Section 26-2124 - JOINT ACCOUNTS.
Section 26-2126 - TRUST ACCOUNTS.
Section 26-2127 - INVESTMENT OF FUNDS.
Section 26-2128 - LIQUIDITY REQUIREMENTS.
Section 26-2129 - RESERVE REQUIREMENTS.
Section 26-2131 - SHARE REDUCTION.
Section 26-2133 - REPORTS — FINANCIAL AND STATISTICAL DATA.
Section 26-2134 - APPLICATION FEES.
Section 26-2135 - BOOKS AND RECORDS.
Section 26-2136A - EXAMINATIONS AND INVESTIGATIONS REPORTS — ACCESS TO RECORDS — OATHS — SUBPOENAS.
Section 26-2136C - DISCLOSURE OF CONFIDENTIAL INFORMATION BY THE DEPARTMENT — PENALTY.
Section 26-2137 - FALSE REPORTS.
Section 26-2140 - CEASE AND DESIST ORDER — PENALTY.
Section 26-2140A - CONSERVATORSHIP.
Section 26-2141A - RECEIVER — DUTIES — POWERS.
Section 26-2142 - VOLUNTARY AND/OR INVOLUNTARY LIQUIDATION.
Section 26-2143 - HEAD OFFICE AND BRANCH OFFICES.
Section 26-2144 - ADMINISTRATION, RULES AND REGULATIONS.
Section 26-2145 - AUTHORITY TO EXERCISE FEDERAL POWERS.
Section 26-2146 - INVESTMENT IN SERVICE CORPORATION.
Section 26-2147 - CREDIT UNIONS JOINTLY HOLDING STOCK — EFFECT OF WITHDRAWAL BY ONE CREDIT UNION.
Section 26-2148 - DUTY OF CREDIT UNION SERVICE CORPORATION NOT TO DISCRIMINATE — BURDEN OF PROOF.
Section 26-2149 - PROHIBITED ACTIVITIES.
Section 26-2150 - CUSTOMER-CREDIT UNION COMMUNICATION TERMINAL.
Section 26-2151 - CUSTODIAL ACCOUNTS.
Section 26-2152 - INTERSTATE CREDIT UNIONS — APPROVAL — PERMIT — FEES — SUPERVISION.
Section 26-2153 - SHARE AND DEPOSIT INSURANCE.
Section 26-2154 - CREDIT UNIONS ELIGIBLE AS DEPOSITORIES.
Section 26-2155 - DESIGNATION OF DEPOSITORY — REPORTING OF RESERVES AND UNDIVIDED EARNINGS.
Section 26-2156 - BOND COVERAGE.
Section 26-2157 - AUTHORITY OF DIRECTOR TO CALL AND ATTEND SPECIAL MEETING OF THE BOARD.
Section 26-2170 - DEFINITION, PURPOSE AND RESTRICTIONS, IDAHO CORPORATE CREDIT UNION.
Section 26-2171 - ORGANIZATION — IDAHO CORPORATE CREDIT UNION.
Section 26-2172 - AMENDMENTS — IDAHO CORPORATE CREDIT UNION.
Section 26-2173 - CORPORATE POWERS — IDAHO CORPORATE CREDIT UNION.
Section 26-2174 - MEMBERSHIP IN THE IDAHO CORPORATE CREDIT UNION.
Section 26-2176 - MEETINGS AND ELECTIONS OF THE IDAHO CORPORATE CREDIT UNION.
Section 26-2177 - OFFICIAL FAMILY — IDAHO CORPORATE CREDIT UNION.
Section 26-2178 - OFFICERS — IDAHO CORPORATE CREDIT UNION.
Section 26-2179 - BOARD OF DIRECTORS — IDAHO CORPORATE CREDIT UNION.
Section 26-2180 - LOANS TO MEMBER CREDIT UNIONS — IDAHO CORPORATE CREDIT UNION.
Section 26-2181 - COMPENSATION — CORPORATE OFFICERS.
Section 26-2182 - SHARES AND DEPOSITS.
Section 26-2183 - RESERVE ALLOCATIONS — IDAHO CORPORATE CREDIT UNION.
Section 26-2184 - DIVIDENDS — IDAHO CORPORATE CREDIT UNION.
Section 26-2185 - APPLICABLE PROVISIONS OF THE IDAHO CREDIT UNION ACT.
Section 26-2186 - TAXATION — IDAHO CORPORATE CREDIT UNION.