Rhode Island General Laws Title 35. Public Finance § 35-10.1-2. Definitions

(i) Obligations of the United States government or any of its agencies or instrumentalities;

(ii) Obligations of the state or any of its political subdivisions, or of any of the agencies, boards, or commissions of the state or political subdivision;

(iii) Obligations of any state other than Rhode Island or any of that other state's political subdivisions, or any of the agencies, boards, or commissions of that state or political subdivision, provided that these obligations are rated not less than “A” by standard & poor's corporation or moody's investors service;

(iv) One to four (4) family residential mortgage loans; provided, that the value of the collateral is not less than one hundred fifty percent (150%) of the public deposit secured thereby; and provided, further, that the original loan to value ratio on the individual mortgage loans pledged as collateral shall not have exceeded eighty percent (80%) unless private mortgage insurance was obtained with respect to any excess; however, collateral of this type shall not exceed twenty-five percent (25%) of total collateral pledged by a depository institution; or

(v) Other marketable securities and debt instruments determined by the commission to be satisfactory for purposes of providing liquid assets in the event of the default or insolvency of a qualified depository institution; provided, that the commission gives prompt public notice of any determination it makes under this paragraph; and provided, further, that all depository institutions are permitted to use any category of eligible collateral approved under this section; however, collateral of this type shall not exceed ten percent (10%) of total collateral pledged by a depository institution.