Regulaciones sobre acuerdos de gestión de tasas de interés en Texas

(j) An issuer may enter into an interest rate management agreement transaction only: (1) if the issuer has either entered into at least three interest rate management transactions before November 1, 2006, or has entered into one or more interest rate management transactions with notional amounts totaling at least $400 million before that date; or (2) as provided by Subsection (k). (k) An issuer may enter into an interest rate management transaction if: (1) the governing body has adopted, amended, or ratified during the preceding two years a risk management policy governing entering into and managing interest rate management agreements and transactions that addresses: (A) conditions, if any, under which the issuer may enter into an interest rate management agreement transaction without independent advice from a financial advisor or swap advisor who has experience in interest rate management transactions; and (B) authorized purposes, permitted types and creditworthiness of counterparties, credit risks and other risks, liquidity, methods of selection of counterparties, and limits concerning awarding a transaction, monitoring, and exposure; (2) the issuer has received from the counterparty: (A) if the transaction was not awarded through a competitive bidding process: (i) a statement that, in the counterparty's judgment, the difference in basis points between the rate of the transaction and the mid-market rate for a comparable transaction falls within the commonly occurring range