1. (a) A credit union may offer share and deposit accounts under terms and at rates established by policies approved by the board of directors. Before instituting a new program or within 90 days from the effective date of this rule, each credit union shall adopt and implement:

   1. (1) a comprehensive asset liability management policy; and
   2. (2) policies and procedures for determining and maintaining adequate liquidity levels.
2. (b) Capital. All deposit and share accounts shall be considered capital for regulatory purposes.

Source Note:The provisions of this §91.601 adopted to be effective March 8, 1984, 9 TexReg 1153; amended to be effective July 8, 1994, 19 TexReg 4932.