ENROLLED 2013 Legislature SB 558 2013558er 1 2 An act relating to letters of credit issued by a 3 Federal Home Loan Bank; amending s. 280.13, F.S.; 4 revising circumstances under which letters of credit 5 issued by a Federal Home Loan Bank are eligible as 6 collateral; providing an effective date. 7 8 Be It Enacted by the Legislature of the State of Florida: 9 10 Section 1. Paragraph (c) of subsection (5) of section 11 280.13, Florida Statutes, is amended to read: 12 280.13 Eligible collateral.— 13 (5) Letters of credit issued by a Federal Home Loan Bank 14 are eligible as collateral under this section provided that: 15 (c) Obligations issued by the Federal Home Loan Bank remain 16 triple-Atriple Arated by a nationally recognized source or, if 17 no longer triple-A rated, rated by a nationally recognized 18 source at not lower than its rating of the long-term sovereign 19 credit of the United States. 20 Section 2. This act shall take effect July 1, 2013.