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Committee advances bill tightening collateral rules for public deposits and encouraging local bank investment
Summary
House Committee of the Whole reported House Substitute for 2152 favorably. The bill creates a pooled collateral method to secure public deposits above FDIC limits, raises required collateral coverage, increases reporting and oversight, and places caps and reporting rules intended to bring more public funds to Kansas banks.
The House Committee of the Whole voted to report House Substitute for 2152 favorably after a floor explanation by the bill sponsor. The measure creates a pooled collateral process to secure government deposits exceeding FDIC insurance and establishes administrative oversight intended to keep more public dollars in Kansas financial institutions.
Representative Paul Heisel, bill sponsor, told the committee the…
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