State bank may sell certificates of deposit with returns based on the performance of an established equity market index. Bank also may engage in related interest rate risk hedging through swap contracts with the Federal Home Loan Bank.
State bank may purchase certificates of deposit with returns based on the performance of an established equity market index. However, such purchases may not exceed the basic loaning limits of Section 32.
Pursuant to an Illinois Attorney General's Opinion, a state bank's purchases of certificates of deposit may not exceed the basic loaning limits of Section 32.
Illinois corporate fiduciary may invest trust assets in certificates of deposit with returns based on the performance of an established equity market index.
Illinois corporate fiduciary is not permitted to invest a ward's assets in certificates of deposit that earn interest contingent on the performance of an established equity market because such interest in not FDIC-insured until maturity. |
