State of Kansas
State Bank Commissioner
Special Order 2000-2
This Order is hereby issued this 20th day of April, 2000 by the Kansas State Bank Commissioner (Commissioner) pursuant to K.S.A. 9-1715, as amended.
Whereas, pursuant to 12 U.S.C. §24, Seventh and 12 C.F.R. Part 1, a national bank is permitted to invest in, without limitation, direct obligations of , or obligations which are insured as to principal and interest by, or evidences of indebtedness which are fully collateralized by obligations of:
the Federal Home Loan Banks
the Federal National Mortgage Association
the Government National Mortgage Association
the Federal Home Loan Mortgage Corporation
the Student Loan Marketing Association; and
the Federal Farm Credit Banks; and
Whereas, no Kansas law expressly provides authority for a Kansas state bank to make such investments without limitation; and
Whereas, K.S.A. 9-1715, as amended, grants to the Commissioner "...the power to authorize any or all state banks to engage in any activity in which such banks could engage were they operating as national banks at the time such authority is granted..."; and
Whereas, the Commissioner deems the issuance of this special order to be reasonably required to preserve the welfare of Kansas state banks and to promote competitive equality between Kansas state banks and Kansas national banks;
It is therefore ordered, that a Kansas state bank may invest in, without limitation, obligations of, or obligations which are insured as to principal and interest by, or evidences of indebtedness that are fully collateralized by obligations of:
the Federal Home Loan Banks
the Federal National Mortgage Association
the Government National Mortgage Association
the Federal Home Loan Mortgage Corporation
the Student Loan Marketing Association; and
the Federal Farm Credit Banks.
Pursuant to K.S.A. 9-1715(b), as amended, the terms of this special order shall become effective the 20th day of April, 2000, and shall remain in full force and effect until amended or revoked by the Commissioner.
It is so ordered.
State Bank Commissioner
Franklin W. Nelson
