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7500 - FRB Regulations
TABLE OF CONTENTS
FEDERAL RESERVE ACT11
Reports of assets and liabilities
11A
Pricing of services
19(b)
Reserve requirements
19(c)
Promulgation of rules and regulations respecting maintenance of
balances
22(g)
Loans to executive officers of banks
22(h)
Extensions of credit to executive officers, directors, and principal
shareholders of member banks
23A
Banking Affiliates Act of 1982
(a)
Restrictions on transactions with affiliates
(b)
Definitions
(c)
Collateral for certain transactions with affiliates
(d)
Exemptions
(e)
Rules relating to banks with financial subsidiaries
(f)
Rulemaking and additional exemptions
23B
Banking affiliates
25A
Formation authorized, Fiscal agents depositaries in insular
possessions
PART 204—RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS (REGULATION D)
Regulations
204.1
Authority, purpose and scope
204.2
Definitions
204.3
Reporting and location
204.4
Computation of required reserves
204.5
Maintenance of required reserves
204.6
Changes for reserve deficiencies
204.7
Supplemental reserve requirement
204.8
International banking facilities
204.9
Emergency reserve requirement
204.10
Payment of interest on balances
Interpretations
204.121
Bankers' banks
204.122
Secondary market activities of International Banking
Facilities
204.123
Sale of federal funds by investment companies or trusts in which
the entire beneficial interest is held exclusively by depository
institutions
204.124
Repurchase agreement involving shares of a money market mutual
fund whose portfolio consists wholly of United States Treasury and
federal agency securities
204.125
Foreign, international, and supranational entities referred to
in §§ 204.2(c)(1)(iv)(E) and 204.8(a)(2)(i)(B)(5)
204.126
Depository institution participation in "federal funds"
market
204.127
Nondepository participation in "federal funds" market
204.128
Deposits at foreign branches guaranteed by domestic office of a
depository institution
204.129 [Removed]
204.130
Eligibility for NOW accounts
204.131
Participation by a depository institution in the secondary
market for its own time deposits
204.132
Treatment of loan strip participations
204.133
Multiple savings deposits treated as a transaction account
204.134
Linked time deposits and transaction accounts
204.135
Shifting funds between depository institutions to make use of
the low reserve tranche
204.136
Treatment of trust overdrafts for reserve requirement reporting
purposes
PART 206—LIMITATIONS ON INTERBANK LIABILITIES (REGULATION F)
206.1
Authority, purpose, and scope
206.2
Definitions
206.3
Prudential standards
206.4
Credit exposure
206.5
Capital levels of correspondents
206.6
Waiver
PART 211—INTERNATIONAL BANKING OPERATIONS (REGULATION K)
Subpart A—International Operations of U.S. Banking Organizations
211.1
Authority, purpose, and scope
211.2
Definitions
211.3
Foreign branches of U.S. banking organizations
211.4
Permissible activities and investments of foreign branches of member
banks
211.5
Edge and agreement corporations
211.6
Permissible activities of Edge and agreement corporations in the United
States
211.7
Voluntary liquidation of Edge and agreement corporations
211.8
Investments and activities abroad
211.9
Investment procedures
211.10
Permissible activities abroad
211.11
Advisory opinions under Regulation K
211.12
Lending limits and capital requirements
211.13
Supervision and reporting
Subpart B—Foreign Banking Organizations
211.20
Authority, purpose, and scope
211.21
Definitions
211.22
Interstate banking operations for foreign banking organizations
211.23
Nonbanking activities of foreign banking organizations
211.24
Approval of offices of foreign banks; procedures for applications;
standards for approval; representative office activities and standards
for approval; preservation of existing authority
211.25
Termination of offices of foreign banks
211.26
Examination of offices and affiliates of foreign banks
211.27
Disclosure of supervisory information to foreign supervisors
211.28
Provisions applicable to branches and agencies: limitation on loans to
one borrower
211.29
Applications by state branches and state agencies to conduct activities
not permissible for federal branches
211.30
Criteria for evaluating the U.S. operations of foreign banks not
subject to consolidated supervision
Subpart C—Export Trading Companies
211.31
Authority, purpose, and scope
211.32
Definitions
211.33
Investments and extensions of credit
211.34
Procedures for filing and processing notices
Subpart D—International Lending Supervision
211.41
Authority, purpose and scope
211.42
Definitions
211.43
Allocated transfer risk reserve
211.44
Reporting and disclosure of international assets
211.45
Accounting for fees on international loans
Interpretations
211.601
Status of certain offices for purposes of the International Banking Act
restrictions on interstate banking operations
211.602
Investments by United States banking organizations in foreign companies
that transact business in the United States
211.603
Commodity swap transactions
211.604
Data processing activities
211.605
Permissible underwriting activities of foreign banks
PART 215—LOANS TO EXECUTIVE OFFICERS, DIRECTORS, AND
PRINCIPAL
SHAREHOLDERS OF MEMBER BANKS (REGULATION O)
Subpart A—Loans by Member Banks to Their Executive Officers, Directors, and Principal Shareholders
215.1 Authority, purpose, and scope
215.2 Definitions
215.3 Extension of credit
215.4 General prohibitions
215.5 Additional restrictions on loans to executive officers of member banks
215.6 Prohibition on knowingly receiving unauthorized extension of credit
215.7 Extensions of credit outstanding on March 10, 1979
215.8 Records of member banks
215.9 Disclosure of credit from member banks to executive officers and principal shareholders
215.10 Reporting requirement for credit secured by certain bank stock
215.11 Civil penalties
Appendix A to Part 215–Section 5200 of the Revised Statutes total loans and extensions of credit
PART 220—CREDIT BY BROKERS AND DEALERS (REGULATION T)
Regulations
220.1
Authority, purpose, and scope
220.2
Definitions
220.3
General provisions
220.4
Margin account
220.5
Special memorandum account
220.6
Good faith account
220.7
Broker-dealer credit account
220.8
Cash account
220.9
Clearance of securities, options, and futures
220.10
Borrowing and lending securities
220.11
Requirements for the list of marginable OTC stocks and the list of
foreign margin stocks
220.12
Supplement: Margin requirements
220.132
Credit to brokers and dealers
PART 221—CREDIT BY BANKS AND PERSONS OTHER THAN BROKERS OR DEALERS FOR THE PURPOSE OF PURCHASING OR CARRYING MARGIN STOCK (REGULATION U)
221.1
Authority, purpose, and scope
221.2
Definitions
221.3
General Requirements
221.4
Employee stock option, purchase, and ownership plans
221.5
Special purpose loans to brokers and dealers
221.6
Exempted transactions
221.7
Supplement: Maximum loan value of margin stock and other collateral
Interpretations
221.101
Determination and effect of purpose of loan
221.102
Application to committed credit where funds are disbursed
thereafter
221.103
Loans to brokers or dealers
221.104
Federal credit unions
221.105
Arranging for extensions of credit to be made by a bank
221.106
Reliance in "good faith" on statement of purpose of loan
221.107
Arranging loan to purchase open-end investment company shares
221.108
Effect of registration of stock subsequent to making of loan
221.109
Loan to open-end investment company
221.110
Questions arising under this part
221.111
Contribution to joint venture as extension of credit when the
contribution is disproportionate to the contributor's share in the
venture's profits or losses
221.112
Loans by bank in capacity as trustee
221.113
Loan which is secured indirectly by stock
221.114
Bank loans to purchase stock of American Telephone and Telegraph
Company under Employees' Stock Plan
221.115
Accepting a purpose statement through the mail without benefit of
face-to-face interview
221.116
Bank loans to replenish working capital used to purchase mutual fund
shares
221.117
When bank in "good faith" has not relied on stock as
collateral
221.118
Bank arranging for extension of credit by corporation
221.119
Applicability of plan-lender provisions of financing of stock options
and stock purchase rights qualified or restricted under Internal
Revenue Code
221.120
Allocation of stock collateral to purpose and nonpurpose credits to
same customer
221.121
Extension of credit in certain stock option and stock
purchase plans
221.122
Applicability of margin requirements to credit in connection with
Insurance Premium Funding Programs
221.123
Combined credit for exercising employees stock options and paying
income taxes incurred as a result of such exercise
221.124
Purchase of debt securities to finance corporate takeovers
221.125
Credit to brokers and dealers
PART 223—TRANSACTIONS BETWEEN MEMBER BANKS AND THEIR AFFILIATES (REGULATION W)
Subpart A — INTRODUCTION AND DEFINITIONS
223.1
Authority, purpose and scope
223.2
What is an "affiliate" for purposes of sections 23A and 23B and
this part?
223.3
What are the meanings of the other terms used in sections 23A and 23B
and this part?
Subpart B — General Provisions of Section 23A
223.11
What is the maximum amount of covered transactions that a member bank
may enter into with any single affiliate?
223.12
What is the maximum amount of covered transactions that a member bank
may enter into with all affiliates?
223.13
What safety and soundness requirement applies to covered
transactions?
223.14
What are the collateral requirements for a credit transaction with an
affiliate?
223.15
May a member bank purchase a low-quality asset from an
affiliate?
223.16
What transactions by a member bank with any person are treated as
transactions with an affiliate?
Subpart C — Valuation and Timing Principles Under Section 23A
223.21
What valuation and timing principles apply to credit transactions?
223.22
What valuation and timing principles apply to asset purchases?
223.23
What valuation and timing principles apply to purchases of and
investments in securities issued by an affiliate?
223.24
What valuation principles apply to extensions of credit secured by
affiliate securities?
Subpart D — Other Requirements Under Section 23A
223.31
How does section 23A apply to a member bank's acquisition of an
affiliate that becomes an operating subsidiary of the member bank after
the acquisition?
223.32
What rules apply to financial subsidiaries of a member bank?
223.33
What rules apply to derivative transactions?
Subpart E — Exemptions from the Provisions of Section 23A
223.41
What covered transactions are exempt from the quantitative limits and
collateral requirements?
223.42
What covered transactions are exempt from the quantitative limits,
collateral requirements, and low-quality asset prohibition?
223.43
What are the standards under which the Board may grant additional
exemptions from the requirements of section 23A?
Subpart F — General Provisions of Section 23B
223.51
What is the market terms requirement of section 23B?
223.52
What transactions with affiliates or others must comply with section
23B's market terms requirement?
223.53
What asset purchases are prohibited by section 23B?
223.54
What advertisements and statements are prohibited by section
23B?
223.55
What are the standards under which the Board may grant exemptions from
the requirements of section 23B?
223.56
What transactions are exempt from the market-terms requirement of
section 23B?
Subpart G — Application of Sections 23A and 23B to U.S. Branches and Agencies of Foreign Banks
Subpart H — Miscellaneous Interpretations
Subpart I — Savings Associations — Transactions with Affiliates
PART 224—BORROWERS OF SECURITIES CREDIT (REGULATION X)
224.1
Authority, purpose and scope
224.2
Definitions
224.3
Margin regulations to be applied by nonexempted borrowers
Bank Holding Company Act of 1956
1. Short Title
2. Definitions
(a) Bank holding company
(b) Company; company covered in 1970
(c) Bank defined
(d) Subsidiary
(e) Successor
(f) Board
(g) Ownership and control
(h) Extraterritorial effect
(i) Thrift institution
(j) Definition of savings association and related terms
(k) Affiliate
(l) Savings bank holding company
(n) Incorporated definitions
(o) Other definitions
(p) Financial holding company
(q) Insurance company
3. Acquisition of Bank Shares or Assets
(a) Prior approval of Board as necessary; exceptions; subsequent approval or disposition upon disapproval
(b) Notice and hearing requirements; waiver in case of bank in danger of closing
(c) Factors for consideration by Board
(d) Interstate banking
(e) Insured depository institution
(f) [Repealed]
(g) Mutual bank holding company
4. Interests in Nonbanking Organizations
(a) Ownership or control of voting shares of any company not a bank; engagement in activities other than banking
(b) Statement purporting to represent shares of any company except a bank or bank holding company
(c) Exemptions
(d) Exemption of company controlling one bank prior to July 1, 1968
(e) Divestiture of nonexempt shares
(f) Certain companies not treated as bank holding companies
(g) Limitations on certain banks
(h) Tying provisions
(i) Acquisition of savings associations
(j) Notice procedures for nonbanking activities
(k) Engaging in activities that are financial in nature
(l) Conditions for engaging in expanded financial activities
(m) Provisions applicable to financial holding companies that fail to meet certain requirements
(n) Authority to retain limited nonfinancial activities and affiliations
(o) Regulation of certain financial holding companies
5. Administration
(a) Registration of bank holding company
(b) Regulations and orders
(c) Reports and examinations
(d) Reports to the Congress; recommendations
(e) Enforcement and jurisdiction
(f) Powers of Board respecting applications, examinations, or other proceedings
(g) Authority of state insurance regulator and the securities and exchange commission
6. [Repealed]
7. Reservation of rights to States
(a) In general
(b) State taxation authority not affected
8. Penalties
(a) Criminal penalty
(b) Civil money penalty
(c) Notice under this section after separation from service
(d) Penalty for failure to make reports
9. Judicial Review
10A. [Repealed]
11. Saving Provision
(a) General rule
(b) Antitrust review;
(c) Antitrust proceedings; Board and State banking agency as party; representation by counsel
(d) Treatment of merger transactions consummated prior or subsequent to May 9, 1956, and not in litigation prior to July 1, 1966
(e) Antitrust litigation; substantive law applicable to proceedings pending on or after July 1, 1966, with respect to merger transactions
(f) "Antitrust laws" defined
105 Acquisition of subsidiary and tying arrangement; Federal Reserve Board proceedings; application for authorization; competitor or as party interest and person aggrieved; judicial review
618 Securities holding companies
13 Prohibitions on proprietary trading and certain relationships with hedge Funds and private equity funds
14 Concentration limits on large financial firms
Tying Arrangements
106(a)
Definitions
106(b)
Certain tying arrangements; prohibited; correspondent accounts
106(c)
Jurisdiction of courts; duty of United States attorneys; equitable
proceedings; petition; expedition of cases; temporary restraining
orders; bringing in additional parties; subpenas
106(d)
Actions by United States; subpenas for witnesses
106(e)
Civil actions by persons injured; jurisdiction and venue; amount of
recovery
106(f)
Injunctive relief for persons against threatened loss or damages;
equitable proceedings; preliminary injunctions
106(g)
Limitation of actions; suspension of limitations
106(h)
Actions under other Federal or State laws unaffected; regulations or
orders barred as a defense
Part 225—Bank Holding Companies And Change in Bank Control (Regulation Y)
REGULATIONS
Subpart A—General Provisions
225.1
Authority, purpose, and scope
225.2
Definitions
225.3
Administration
225.4
Corporate practices
225.5
Registration, reports, and inspections
225.6
Penalties for violations
225.7
Exceptions to tying restrictions
225.8
Capital Planning
225.9
Control over securities
Subpart B—Acquisition of Bank Securities or Assets
225.11
Transactions requiring Board approval
225.12
Transactions not requiring Board approval
225.13
Factors considered in acting on bank acquisition proposals
225.14
Expedited action for certain bank acquisitions by well-run bank holding
companies
225.15
Procedures for other bank acquisition proposals
225.16
Public notice, comments, hearings, and other provisions governing
applications and notices
225.17
Notice procedure for one-bank holding company formations
Subpart C—Nonbanking Activities and Acquisitions by Bank Holding Companies
225.21
Prohibited nonbanking activities and acquisitions; exempt bank holding
companies
225.22
Exempt nonbanking activities and acquisitions
225.23
Expedited action for certain nonbanking proposals by well-run bank
holding companies
225.24
Procedures for other nonbanking proposals
225.25
Hearings, alteration of activities, and other matters
225.26
Factors considered in acting on nonbanking proposals
225.27
Procedures for determining scope of nonbanking activities
225.28
List of permissible nonbanking activities
Subpart D—Control and Divestiture Proceedings
225.31
Control proceedings
225.32
Rebuttable presumptions of control of a company
225.33
Rebuttable presumption of noncontrol of a company
225.34
Total equity
Subpart E—Change in Bank Control
225.41
Transactions requiring prior notice
225.42
Transactions not requiring prior notice
225.43
Procedures for filing, processing, publishing and acting on notices
225.44
Reporting of stock loans
Subpart F—Limitations on Nonbank Banks
Subpart G—Appraisal Standards for Federally Related Transactions
225.61
Authority, purpose, and scope
225.62
Definitions
225.63
Appraisals required; transactions requiring a state certified or
licensed appraiser
225.64
Minimum appraisal standards
225.65
Appraiser independence
225.66
Professional association membership; competency
225.67
Enforcement
Subpart H—Notice of Addition or Change of Directors and Senior Executive Officers
225.71
Definitions
225.72
Director and officer appointments; prior notice requirement
225.73
Procedures for filing, processing, and acting on notices; standards for
disapproval; waiver of notice
Subpart I—Financial Holding Companies
225.81
What is a financial holding company?
225.82
How does a bank holding company elect to become a financial holding
company?
225.83
What are the consequences of failing to continue to meet applicable
capital and management requirements?
225.84
What are the consequences of failing to maintain a satisfactory or
better rating under the Community Reinvestment Act at all insured
depository institution subsidiaries?
225.85
Is notice to or approval from the Board required prior to engaging in a
financial activity?
225.86
What activities are permissible for any financial holding com-
pany?
225.87
Is notice to the Board required after engaging in a financial
activity?
225.88
How to request the Board to determine that an activity is financial in
nature or incidental to a financial activity?
225.89
How to request approval to engage in an activity that is complementary
to a financial activity?
225.90
What are the requirements for a foreign bank to be treated as a
financial holding company?
225.91
How may a foreign bank elect to be treated as a financial holding
company?
225.92
How does an election by a foreign bank become effective?
225.93
What are the consequences of a foreign bank failing to continue to meet
applicable capital and management requirements?
225.94
What are the consequences of an insured branch or depository
institution failing to maintain a satisfactory or better rating under
the Community Reinvestment Act?
INTERPRETATIONS
225.101
Bank holding company's subsidiary banks owning shares of nonbanking
companies
225.102
Bank holding company indirectly owning nonbanking company through
subsidiaries
225.103
Bank holding company acquiring stock by dividends, stock splits or
exercise of rights
225.104
"Services" under section 4(c)(1) of Bank Holding Company Act
225.107
Acquisition of stock in small business investment company.
225.109
"Services" under section 4(c)(1) of Bank Holding Company Act
225.111
Limit on investment by bank holding company system in stock of small
business investment companies
225.112
Indirect control of small business concern through convertible
debentures held by small business investment company
225.113
Services under section 4(a) of Bank Holding Company Act
225.115
Applicability of Bank Service Corporation Act in certain bank holding
company situations
225.118
Computer services for customers of subsidiary banks
225.121
Acquisition of Edge corporation affiliate by State member banks of
registered bank holding company
225.122
Bank holding company ownership of mortgage companies
225.123
Activities closely related to banking
225.124
Foreign bank holding companies
225.125
Investment adviser activities
225.126
Activities not closely related to banking
225.127
Investment in corporations or projects designed primarily to promote
community welfare
225.129
Activities closely related to banking
225.130
Issuance and sale of short-term debt obligations by bank holding
companies
225.131
Activities closely related to banking
225.132
Acquisition of assets
225.133
Computation of amount invested in foreign corporations under general
consent procedures
225.134
Escrow arrangements involving bank stock resulting in a violation of
the Bank Holding Company Act
225.136
Utilization of foreign subsidiaries to sell long-term debt obligations
in foreign markets and to transfer the proceeds to their United States
parent(s) for domestic purposes
225.137
Acquisition of shares pursuant to section 4(c)(6) of the Bank Holding
Company Act
225.138
Statement of policy concerning divestitures by bank holding companies
225.139
Presumption of continued control under section 2(g)(3) of the Bank
Holding Company Act
225.140
Disposition of property acquired in satisfaction of debts previously
contracted
225.141
Operations subsidiaries of a bank holding company
225.142
Statement of policy concerning bank holding companies engaging in
futures, forward and options contracts on U.S. Government and agency
securities and money market instruments
225.143
Policy statement on nonvoting equity investments by bank holding
companies
225.145
Limitations established by the Competitive Equality Banking Act of 1987
on the activities and growth of nonbank banks
Subpart J—Merchant Banking Investments
225.170
What type of investments are permitted by this subpart, and under what
conditions may they be made?
225.171
What are the limitations on managing or operating a portfolio company
held as a merchant banking investment?
225.172
What are the holding periods permitted for merchant banking
investments?
225.173
How are investments in private equity funds treated under this
subpart?
225.174
What aggregate thresholds apply to merchant banking
investments?
225.175
What risk management, record keeping and reporting policies are
required to make merchant banking investments?
225.176
How do the statutory cross marketing and sections 23A and B limitations
apply to merchant banking investments?
225.177
Definitions
Subpart K—Proprietary Trading and Relationships With Hedge
Funds
and Private Equity Funds
225.180 Definitions
225.181 Conformance period for banking entities engaged in prohibited proprietary trading or private fund activities
225.182 Conformance period for nonbank financial companies supervised by the Board engaged in proprietary trading or private fund activities
Subpart L—Conditions to Orders
Subpart M—Minimum Requirements for Appraisal Management Companies
225.190
Authority, purpose, and scope
225.191
Definitions
225.192
Appraiser panel—annual size calculation
225.193
Appraisal management company registration
225.194
Ownership limitations for State registered appraisal management
companies
225.195
Requirements for Federally regulated appraisal management companies
225.196
Information to be presented to the Appraisal Subcommittee by
participating States
Appendices to Subparts
Appendix A—Capital Adequacy
Guidelines for Bank Holding Companies: Risk-Based Measure
Appendix B--[Reserved]
Appendix C—Small Bank
Holding Company and Savings and Loan Holding Company Policy Statement
Appendix D--[Reserved]
Appendix E--[Reserved]
Appendix F—Interagency
Guidelines Establishing Informational Security Standards
Supplement A to
Appendix F—Interagency Guidance on Response Programs for Unauthorized
Access to Customer Information and Customer Notice
Appendix G--[Reserved]
Part 265—Rules Regarding Delegation of Authority
265.1
Authority, purpose, and scope
265.2
Delegation of functions generally
265.3
Board review of delegated actions
265.4
Functions delegated to Board Members
265.5
Functions delegated to Secretary of the Board
265.6
Functions delegated to General Counsel
265.7
Functions delegated to Director of Division of Banking Supervision and
Regulation
265.8
Functions delegated to the Staff Director of Division of International
Finance
265.9
Functions delegated to the Director of Division of Consumer and
Community Affairs
265.10
Functions delegated to Secretary of Federal Open Market Committee
265.11
Functions delegated to Federal Reserve banks