Okla. Stat. tit. 6, § 6-1608

Asset maintenance or capital equivalency.

A. Each international bank agency shall hold, in this state,

assets which bear such relationships as the Board shall by rule

prescribe to the aggregate liabilities of the international bank

agency payable in this state or resulting from the operations of the

international bank agency. The amount of such assets shall be equal

to not less than one hundred five percent (105%) of the amount of

such liabilities. However, the Board by rule may reduce the

required amount of assets to not less than one hundred percent

(100%) of the amount of such liabilities. When promulgating any

such rule, the Board shall take into account the objective of

maintaining a sound banking system in this state. The assets shall

be maintained as cash on hand; as cash on demand deposit with other

banks, including the total amount of any reserves deposited with

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other banks, including the total amount of any reserves deposited at

a federal reserve bank; as cash items in process of collection; as

earning assets such as federal funds sold, bonds, notes, debentures,

drafts, bills of exchange, acceptances, loan participation

certificates, or other evidences of indebtedness payable in the

United States or in the United States funds or, with the prior

approval of the Board, in funds freely convertible into United

States funds; in such other form as the Board may specify by rule;

or as any combination of the foregoing. The term "assets" as used

in this subsection excludes accrued income and amounts due from

other offices or branches of, and wholly owned (except for a nominal

number of directors' shares) subsidiaries of, the international

banking corporation in question. The term "liabilities" as used in

this subsection excludes accrued expenses and amounts due and other

liabilities to branches, offices, agencies, and wholly owned (except

for a nominal number of directors' shares) subsidiaries of the

international banking corporation in question, and such other

liabilities as the Board may specify by rule. In lieu of holding

such assets, the Board may by rule permit an international bank

agency to:

1. Maintain on deposit with a bank in this state, in such

amounts as the Board specifies, dollar deposits or investment

securities of the type that may be held by a state bank for its own

account pursuant to Section 806 of Title 6 of the Oklahoma Statutes.

The aggregate amount of dollar deposits and investment securities

for an international bank agency shall, at a minimum, equal the

greater of:

(a) One Million Five Hundred Thousand Dollars

($1,500,000.00), or

(b) Five percent (5%) of the total liabilities of the

international bank agency, excluding accrued expenses

and amounts due and other liabilities to branches,

offices, agencies, and wholly owned (except for a

nominal number of directors' shares) subsidiaries of

the international banking corporation of which the

agency is part. The Board shall prescribe by rule the

deposit, safekeeping, pledge, withdrawal,

recordkeeping, and other arrangements for funds and

securities maintained under the provisions of this

paragraph. The deposits and securities used to

satisfy the capital equivalency requirements of this

paragraph shall be held, to the extent feasible, in a

state or national bank located in this state or in a

federal reserve bank; or

2. Maintain other appropriate reserves, taking into

consideration the nature of the business being conducted by the

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Oklahoma international bank agencies of the international banking

corporation.

The securities or reserves required by the provisions of this

section shall be held, to the extent feasible, in a state or

national bank located in this state.

B. For the purposes of this section, the Board shall value
business being conducted by the

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Oklahoma international bank agencies of the international banking

corporation.

The securities or reserves required by the provisions of this

section shall be held, to the extent feasible, in a state or

national bank located in this state.

B. For the purposes of this section, the Board shall value

marketable securities at book value; shall have the right to

determine the value of any nonmarketable bond, note, debenture,

draft, bill of exchange, or other evidence of indebtedness or of any

other obligation held by or owned to the international banking

corporation in this state; and, in determining the amount of assets

for the purpose of computing the above ratio of assets to

liabilities, shall have the power to exclude any particular assets.

C. If by reason of the existence or the potential occurrence of

unusual or extraordinary circumstances, the Board deems it necessary

or desirable for the maintenance of a sound financial condition, the

protection of creditors and the public interest, and the maintenance

of public confidence in the business of the international bank

agency of the international banking corporation, the Board may

reduce the credit balances with unaffiliated banking institutions

outside this state and may require such international banking

corporation to deposit, in accordance with such rules as the Board

shall from time to time promulgate, the assets required to be held

in this state pursuant to this section with such bank or trust

company existing under the laws of this state as such international

banking corporation may designate and the Board may approve.

D. For the purposes of this section, international banking

facility deposits and borrowings shall be excluded from the total

liabilities and assets of an international banking corporation.

Except as otherwise provided by rule, international banking facility

extensions of credit are eligible assets for the purposes of asset

maintenance pursuant to subsection A of this section.

E. Each international bank agency shall file such reports with

the Board as the Board shall by rule require to determine compliance

with the provisions of this section.