Subject to the requirements in §B of this regulation, public money may be invested in the following types of securities: An obligation for which the United States has pledged its faith and credit for the payment of the principal and interest; An obligation that a federal agency or a federal instrumentality has issued in accordance with an act of Congress; An obligation issued and unconditionally guaranteed by a supranational issuer denominated in United States dollars and eligible to be sold in the United States; A repurchase agreement collateralized in an amount not less than 102 percent of the principal amount by an obligation of the United States, its agencies, or instrumentalities, provided the collateral is held by a custodian other than the seller designated by the buyer; Bankers’ acceptances guaranteed by a financial institution with a short–term debt rating in the highest letter and numerical rating by at least one nationally recognized statistical rating organization; Commercial paper that has received the highest letter and numerical rating by at least two nationally recognized statistical rating organizations; Money market mutual funds that: Are registered with the Securities and Exchange Commission under the Investment Company Act of 1940, 15 U.S.C. §80a–1 et seq., as amended; Are operated in accordance with Rule 2A–7 of the Investment Company Act of 1940, 17 CFR §270.2A–7, as amended; and Have received the highest possible rating from at least one nationally recognized statistical rating organization; Any investment portfolio created under the Maryland Local Government Investment Pool defined under Local Government Article, §§17–301—17–309, Annotated Code of Maryland, that is administered by the Office of the State Treasurer; Tradeable time deposits denominated in U.S. dollars and issued or endorsed by either: A bank or a savings and loan association organized and supervised under federal law or the laws of any state and regulated by the Federal Reserve or a trust company which is a member of the Federal Reserve system; or A bank organized and supervised under the laws of a foreign country that is rated AA/Aa/AA or higher by at least two nationally recognized statistical rating organizations; Obligations of domestic corporations that are rated A-/A3/A- or higher by at least two nationally recognized statistical rating organizations; Bonds, notes, or other obligations issued by or on behalf of any state or any agency, department, county, municipal or public corporation, special district, authority, or political subdivision thereof, or in any fund or trust that invests only in securities issued by these entities that are rated A-/A3/A- or higher by at least two nationally recognized statistical rating organizations; Bonds, notes, or other obligations denominated in United States dollars, issued by and subject to the laws of a foreign country that is rated AA/Aa/AA or higher by at least two nationally recognized statistical rating organizations; Mortgage-backed obligations: Guaranteed by the United States or a federal agency or a federal instrumentality that were issued in accordance with an act of Congress; and Having received the highest possible rating from at least two nationally recognized statistical rating organizations; Asset-backed obligations having received the highest possible rating from at least two nationally recognized statistical rating organizations; and Non-tradeable time deposits denominated in U.S. dollars and: Issued or endorsed by either: A bank or a savings and loan association organized and supervised under federal law or the laws of any state and regulated by the Federal Reserve or a trust company which is a member of the Federal Reserve system; or A bank organized and supervised under the laws of a foreign country that is rated AA/Aa/AA or higher by at least two nationally recognized statistical rating organizations; and Having received: For obligations with maturities of less than 1 year, at least two ratings of A-1/P1/F-1 or higher from at least two nationally recognized statistical rating organizations; and For obligations with maturities of greater than 1 year, at least two ratings of AA/Aa/AA or higher from at least two nationally recognized statistical rating organizations. An investment officer may invest public money in a given type of security not more than the following percentage of the overall investment portfolio over which the investment officer manages: For a security permitted by §A(1) of this regulation, 100 percent; For a security permitted by §A(2) of this regulation, 100 percent; For a security permitted by §A(3) of this regulation, 40 percent; For a security permitted by §A(4) of this regulation, 75 percent; For a security permitted by §A(5) of this regulation, 20 percent; For a security permitted by §A(6) of this regulation, 35 percent; For a security permitted by §A(7) of this regulation, 50 percent; For a security permitted by §A(8) of this regulation, 100 percent; For a security permitted by §A(9) of this regulation, 35 percent; For a security permitted by §A(10) of this regulation, 25 percent; For a security permitted by §A(11) of this regulation, 25 percent; For a security permitted by §A(12) of this regulation, 20 percent; For a security permitted by §A(13) of this regulation, 25 percent; For a security permitted by §A(14) of this regulation, 25 percent; and For a security permitted by §A(15) of this regulation, 35 percent.