The spare? If that's the way it came from the factory, then it's compliant to the regs even if it's just an 1/8" bolt. Not smart, but compliant because technically it's not "ballast", it's the spare that's allowed to remain.
When I chose to leave the spare in my ITA car I added a 1/2" bolt through one of the wheel holes to tie it through the floor. After arguing with a scrutineer regarding leaving the spare in (he eventually concurred that it's allowed) he started to get me for non-compliant ballast (the bolt weighs something). I pointed out to him that one, hardware is free, so I "can" replace the factory tie-down bolt with something sturdier and two, did he really want to force me to leave a ~25# mini-spare back there when secured with only a cheap-grade 1/8" bolt? He gave in. - GA
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