---
kind: "section"
citation: "12 C.F.R. § 703.10"
title: "12"
number: "703.10"
heading: "Monitoring non-security investments."
url: "https://uscodex.org/cfr/12/703.10"
---

# §703.10. Monitoring non-security investments.

- (a) At least quarterly, a Federal credit union must prepare a written report listing all of its shares and deposits in banks, credit unions, and other depository institutions, that have one or more of the following features:
  - (1) Embedded options;
  - (2) Remaining maturities greater than 3 years; or
  - (3) Coupon formulas that are related to more than one index or are inversely related to, or multiples of, an index.
- (b) The requirement of [paragraph (a)](#a) of this section does not apply to shares and deposits that are securities.
- (c) If a Federal credit union does not have an investment-related committee, then each member of its board of directors must receive a copy of the report described in [paragraph (a)](#a) of this section. If a Federal credit union has an investment-related committee, then each member of the committee must receive a copy of the report, and each member of the board must receive a summary of the information in the report.

## Notes

### Authority

Authority: 12 U.S.C. 1757(7), 1757(8), 1757(14) and 1757(15).

### Source

Source: 68 FR 32960, June 3, 2003, unless otherwise noted.