Connecticut SB00216 establishes a Community Bank and Credit Union Investment Program managed by the State Treasurer.
Connecticut SB00216 creates a Community Bank and Credit Union Investment Program. The State Treasurer can invest up to $300 million in eligible community banks and credit unions. The program includes a competitive bidding procedure for investment-related services and sets capital standards for participating institutions. Eligibility criteria include an asset limit, with banks and credit unions exceeding $2 billion barred from participation after September 29, 2024.
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