CB(LEGAL) - DEPOSITORY OF FUNDS

Selection

Education Code 51.003(a)–(b)

Foreign Bank

  1. Be licensed and supervised by a central bank;
  2. Be audited annually by an accounting firm that follows international financial reporting standards; and
  3. Maintain a capital-to-total assets ratio that is not less than the greater of four percent or the minimum tier 1 capital-to-total assets ratio required for depository institutions insured by the Federal Deposit Insurance Corporation.

Education Code 51.003(f)

Surety Bonds

Interest

Education Code 51.003(c)–(e)

Collateral

Gov't Code 2257.023

Authorized Collateral

Tarrant County College

CB(LEGAL)-LJC

UPDATE 30

DATE ISSUED: 4/6/2015