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<br />such deposit or similar obligation is enforceable against the principal office or any branch <br />of such bank, which: <br /> <br />A. has an unsecured, uninsured and unguaranteed obligation rated <br />"Prime-I" or "A3" or better by Moody's and "A-l" or "A-" or better by Standard & <br />PoorTs, or <br /> <br />B. is the lead bank of a parent holding company with an uninsured, <br />unsecured and unguaranteed obligation meeting the rating requirements in A. above. <br /> <br />(7) Deposits of any bank or savings and loan association which has combined <br />capital, surplus and undivided profits of not less than $3 million, provided such deposits are <br />fully insured by the Bank Insurance Fund or the Savings Association Insurance Fund <br />administered by the Federal Deposit Insurance Corporation. <br /> <br />(8) Investments in a money-market fund rated "Am" or Am-G" or better by <br />Standard & Poor's or rated "A" or better by Moody's. <br /> <br />(9) Repurchase agreements with a term of one year or less with any institution <br />with debt rated "A<\" by Standard & Poor's or "Aa" by Moody's or commercial paper rated <br />"A-I" by Standard & Poor's or "Prime-I" by Moody's. <br /> <br />(10) Repurchase agreements col1ateralized by Direct Obligations or Agency <br />Obligations with any registered broker/dealer subject to the Securities Investors' Protection <br />Corporation jurisdiction or any commercial bank, if such broker/dealer or bank has an <br />uninsured, unsecured and unguaranteed obligation rated "Prime-I" or "A3" or better by <br />Moody's, and "A-I" or "A-" or better by Standard & Poor's, provided: <br /> <br />A. a master repurchase agreement or specific written, repurchase <br />agreement governs tlle transaction; and <br /> <br />B. the securities are held free and clear of any lien by the Issuer or an <br />independent third pmiy acting solely as agent for the Issuer, alld such third party is <br />(i) a Federal Reserve Bank, (ii) a bank which is a member of the Federal Deposit <br />Insurance Corporation and which has combined capital, surplus alld undivided profits <br />of not less than $25 million, or (iii) a bmlk approved in writing for such purpose by <br />Finallcial Guarallty, and the Issuer shall have received written confirmation from <br />such third party that it holds such securÜies, free and clear of allY lien, as agent for <br />the Issuer; and <br /> <br />C. a perfected first security interest under the Uniform Commercial <br />Code, or book entry procedures prescribed at 31 C.F.R. 306.1 et seq. or 31 C.F.R. <br />350.0 et seq. in such securities is created for the benefit of the Issuer; and <br /> <br />3 <br />