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FDIC Law, Regulations, Related Acts


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7500 - FRB Regulations

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TABLE OF CONTENTS


FEDERAL RESERVE ACT
SEC. 11    Reports of assets and liabilities    7509
SEC. 11A    Pricing of services    7510
SEC. 19(b)    Reserve requirements    7510.01
SEC. 19(c)    Form of reserves    7512.04
SEC. 22(g)    Loans to executive officers of banks    7512.04
SEC. 22(h)    Extensions of credit to executive officers, directors, and principal shareholders of member banks    7512.05
SEC. 23A    Banking Affiliates Act of 1982      7512.06-B
 (a)    Restrictions on transactions with affiliates      7512.06-B
 (b)    Definitions      7512.06-B
 (c)    Collateral for certain transactions with affiliates    7512.09
 (d)    Exemptions    7512.09
 (e)    Rules relating to banks with financial subsidiaries    7512.10
 (f)    Rulemaking and additional exemptions    7512.10
SEC. 23B    Restrictions on transactions with affiliates    7512.11
SEC. 25A    Banking corporations authorized to do foreign banking business    7513


PART 204—RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS (REGULATION D)


Regulations
SEC. 204.1    Authority, purpose and scope    7571
SEC. 204.2    Definitions    7572
SEC. 204.3    Computation and maintenance    7582
SEC. 204.4    [Reserved] % 
SEC. 204.5    Emergency reserve requirement    7586.01
SEC. 204.6    Supplemental reserve requirement    7586.01
SEC. 204.7    Reserve deficiencies    7586.02
SEC. 204.8    International banking facilities    7586.03
SEC. 204.9    Reserve requirement ratios    7586.05
SEC. 204.10    Payment of interest on balances    7586.06


Interpretations
SEC. 204.121    Bankers' banks      7586.06-A
SEC. 204.122    Secondary market activities of International Banking Facilities    7586.07
SEC. 204.123    Sale of federal funds by investment companies or trusts in which the entire beneficial interest is held exclusively by depository institutions    7586.13
SEC. 204.124    Repurchase agreement involving shares of a money market mutual fund whose portfolio consists wholly of United States Treasury and federal agency securities    7586.14
SEC. 204.125    Foreign, international, and supranational entities referred to in §§ 204.2(c)(1)(iv)(E) and 204.8(a)(2)(i)(B)(5)    7586.15
SEC. 204.126    Depository institution participation in ``federal funds'' market    7586.16
SEC. 204.127    Nondepository participation in ``federal funds'' market    7586.16
SEC. 204.128    Deposits at foreign branches guaranteed by domestic office of a depository institution    7586.17
SEC. 204.129    [Removed]
SEC. 204.130    Eligibility for NOW accounts    7587.18
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SEC. 204.131    Participation by a depository institution in the secondary market for its own time deposits    7586.19
SEC. 204.132    Treatment of loan strip participations    7586.20
SEC. 204.133    Multiple savings deposits treated as a transaction account    7586.21
SEC. 204.134    Linked time deposits and transaction accounts    7586.22
SEC. 204.135    Shifting funds between depository institutions to make use of the low reserve tranche    7586.23
SEC. 204.136    Treatment of trust overdrafts for reserve requirement reporting purposes    7586.25


PART 206—LIMITATIONS ON INTERBANK LIABILITIES (REGULATION F)
SEC. 206.1    Authority, purpose, and scope    7586.31
SEC. 206.2    Definitions    7586.31
SEC. 206.3    Prudential standards    7586.32
SEC. 206.4    Credit exposure    7586.33
SEC. 206.5    Capital levels of correspondents    7586.34
SEC. 206.6    Waiver    7586.35


PART 211—INTERNATIONAL BANKING OPERATIONS (REGULATION K)


Subpart A—International Operations of U.S. Banking Organizations
SEC. 211.1    Authority, purpose, and scope    7612
SEC. 211.2    Definitions    7612
SEC. 211.3    Foreign branches of U.S. banking organizations    7614
SEC. 211.4    Permissible activities and investments of foreign branches of member banks    7615
SEC. 211.5    Edge and agreement corporations    7616
SEC. 211.6    Permissible activities of Edge and agreement corporations in the United States    7619
SEC. 211.7    Voluntary liquidation of Edge and agreement corporations    7621
SEC. 211.8    Investments and activities abroad    7621
SEC. 211.9    Investment procedures    7624
SEC. 211.10    Permissible activities abroad    7626
SEC. 211.11    Advisory opinions under Regulation K    7628.01
SEC. 211.12    Lending limits and capital requirements    7628.01
SEC. 211.13    Supervision and reporting    7628.03


Subpart B—Foreign Banking Organizations
SEC. 211.20    Authority, purpose, and scope    7628.04
SEC. 211.21    Definitions    7628.04
SEC. 211.22    Interstate banking operations for foreign banking organizations    7628.06
SEC. 211.23    Nonbanking activities of foreign banking organizations    7628.07
SEC. 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    7628.10
SEC. 211.25    Termination of offices of foreign banks    7628.17
SEC. 211.26    Examination of offices and affiliates of foreign banks    7628.18
SEC. 211.27    Disclosure of supervisory information to foreign supervisors    7628.19
SEC. 211.28    Provisions applicable to branches and agencies: limitation on loans to one borrower    7628.19
SEC. 211.29    Applications by state branches and state agencies to conduct activities not permissible for federal branches    7628.19
SEC. 211.30    Criteria for evaluating the U.S. operations of foreign banks not subject to consolidated supervision    7628.21
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Subpart C—Export Trading Companies
SEC. 211.31    Authority, purpose, and scope    7628.22
SEC. 211.32    Definitions    7628.22
SEC. 211.33    Investments and extensions of credit    7628.23
SEC. 211.34    Procedures for filing and processing notices    7628.23


Subpart D—International Lending Supervision
SEC. 211.41    Authority, purpose and scope    7628.24
SEC. 211.42    Definitions    7628.25
SEC. 211.43    Allocated transfer risk reserve    7628.25
SEC. 211.44    Reporting and disclosure of international assets    7630
SEC. 211.45    Accounting for fees on international loans    7630


Interpretations
SEC. 211.601    Status of certain offices for purposes of the International Banking Act restrictions on interstate banking operations    7631
SEC. 211.602    Investments by United States banking organizations in foreign companies that transact business in the United States    7632
SEC. 211.603    Commodity swap transactions    7634
SEC. 211.604    Data processing activities    7634.01
SEC. 211.605    Permissable underwriting activities of foreign banks    7634.02


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
SEC. 215.1    Authority, purpose, and scope    7641
SEC. 215.2    Definitions    7642
SEC. 215.3    Extension of credit    7644
SEC. 215.4    General prohibitions    7646
SEC. 215.5    Additional restrictions on loans to executive officers of member banks    7648
SEC. 215.6    Prohibition on knowingly receiving unauthorized extension of credit    7648.01
SEC. 215.7    Extensions of credit outstanding on March 10, 1979    7648.01
SEC. 215.8    Records of member banks    7649
SEC. 215.9    Disclosure of credit from member banks to executive officers and principal shareholders    7649
SEC. 215.10    Reporting requirement for credit secured by certain bank stock    7650
SEC. 215.11    Civil penalties    7650
Appendix A to Part 215–Section 5200 of the Revised Statutes total loans and extensions of credit     7651
Background and summary of Regulation O and FIRA title VIII and IX    7653
Board interpretations of Regulation O    7655
Board rulings and staff opinions interpreting Regulation O    7656.08


PART 217—PROHIBITION AGAINST THE PAYMENT OF INTEREST ON DEMAND DEPOSITS (REGULATION Q)
SEC. 217.1    Authority, purpose, and scope    7656.31
SEC. 217.2    Definitions    7656.31
SEC. 217.3    Interest on demand deposits    7656.32


Interpretations
SEC. 217.101    Premiums on deposits    7656.32
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PART 220—CREDIT BY BROKERS AND DEALERS (REGULATION T)


Regulations
SEC. 220.1    Authority, purpose, and scope    7657
SEC. 220.2    Definitions    7658
SEC. 220.3    General provisions    7661
SEC. 220.4    Margin account    7662
SEC. 220.5    Special memorandum account    7664
SEC. 220.6    Good faith account    7664
SEC. 220.7    Broker-dealer credit account    7665
SEC. 220.8    Cash account    7666
SEC. 220.9    Clearance of securities, options, and futures    7668
SEC. 220.10    Borrowing and lending securities    7668
SEC. 220.11    Requirements for the list of marginable OTC stocks and the list of foreign margin stocks    7668
SEC. 220.12    Supplement: Margin requirements    7670
SEC. 220.132    Credit to brokers and dealers    7671

Forms

Agreement of Domestic (T–1) and Foreign (T–2) Nonmember Banks (Federal Reserve Form T–1, T–2)    7672
Statement of Purpose of an Extension of Credit by a Creditor (Federal Reserve Form T–4)    7674


PART 221—CREDIT BY BANKS AND PERSONS OTHER THAN BROKERS OR DEALERS FOR THE PURPOSE OF PURCHASING OR CARRYING MARGIN STOCK (REGULATION U)
SEC. 221.1    Authority, purpose, and scope    7759
SEC. 221.2    Definitions    7760
SEC. 221.3    General Requirements    7762
SEC. 221.4    Employee stock option, purchase, and ownership plans    7764
SEC. 221.5    Special purpose loans to brokers and dealers    7765
SEC. 221.6    Exempted transactions    7766
SEC. 221.7    Supplement: Maximum loan value of margin stock and other collateral    7766


Interpretations
SEC. 221.101    Determination and effect of purpose of loan    7767
SEC. 221.102    Application to committed credit where funds are disbursed thereafter    7767
SEC. 221.103    Loans to brokers or dealers    7767
SEC. 221.104    Federal credit unions    7768
SEC. 221.105    Arranging for extensions of credit to be made by a bank    7768
SEC. 221.106    Reliance in ``good faith'' on statement of purpose of loan    7768
SEC. 221.107    Arranging loan to purchase open-end investment company shares    7769
SEC. 221.108    Effect of registration of stock subsequent to making of loan    7769
SEC. 221.109    Loan to open-end investment company    7769
SEC. 221.110    Questions arising under this part    7769
SEC. 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    7770
SEC. 221.112    Loans by bank in capacity as trustee    7771
SEC. 221.113    Loan which is secured indirectly by stock    7772
SEC. 221.114    Bank loans to purchase stock of American Telephone and Telegraph Company under Employees' Stock Plan    7773
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SEC. 221.115    Accepting a purpose statement through the mail without benefit of face-to-face interview    7774
SEC. 221.116    Bank loans to replenish working capital used to purchase mutual fund shares    7775
SEC. 221.117    When bank in ``good faith'' has not relied on stock as collateral    7775
SEC. 221.118    Bank arranging for extension of credit by corporation    7776
SEC. 221.119    Applicability of plan-lender provisions of financing of stock options and stock purchase rights qualified or restricted under Internal Revenue Code    7777
SEC. 221.120    Allocation of stock collateral to purpose and nonpurpose credits to same customer    7777
SEC. 221.121    Extension of credit in certain stock option and stock purchase plans    7778
SEC. 221.122    Applicability of margin requirements to credit in connection with Insurance Premium Funding Programs    7778
SEC. 221.123    Combined credit for exercising employees stock options and paying income taxes incurred as a result of such exercise    7779
SEC. 221.124    Purchase of debt securities to finance corporate takeovers    7779
SEC. 221.125    Credit to brokers and dealers    7780


PART 223—TRANSACTIONS BETWEEN MEMBER BANKS AND THEIR AFFILIATES (REGULATION W)


Subpart A — INTRODUCTION AND DEFINITIONS
SEC. 223.1    Authority, purpose and scope    7786
SEC. 223.2    What is an ``affiliate'' for purposes of sections 23A and 23B and this part?    7786
SEC. 223.3    What are the meanings of the other terms used in sections 23A and 23B and this part?    7788


Subpart B — General Provisions of Section 23A
SEC. 223.11    What is the maximum amount of covered transactions that a member bank may enter into with any single affiliate?    7792
SEC. 223.12    What is the maximum amount of covered transactions that a member bank may enter into with all affiliates?    7792
SEC. 223.13    What safety and soundness requirement applies to covered transactions?    7792
SEC. 223.14    What are the collateral requirements for a credit transaction with an affiliate?    7792
SEC. 223.15    May a member bank purchase a low-quality asset from an affiliate?    7794
SEC. 223.16    What transactions by a member bank with any person are treated as transactions with an affiliate?    7795


Subpart C — Valuation and Timing Principles Under Section 23A
SEC. 223.21    What valuation and timing principles apply to credit transactions?    7796
SEC. 223.22    What valuation and timing principles apply to asset purchases?    7798
SEC. 223.23    What valuation and timing principles apply to purchases of and investments in securities issued by an affiliate?    7799
SEC. 223.24    What valuation principles apply to extensions of credit secured by affiliate securities?    7800


Subpart D — Other Requirements Under Section 23A
SEC. 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?    7801
SEC. 223.32    What rules apply to financial subsidiaries of a member bank?    7802
SEC. 223.33    What rules apply to derivative transactions?    7803
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Subpart E — Exemptions from the Provisions of Section 23A
SEC. 223.41    What covered transactions are exempt from the quantitative limits and collateral requirements?    7804
SEC. 223.42    What covered transactions are exempt from the quantitative limits, collateral requirements, and low-quality asset prohibition?    7805
SEC. 223.43    What are the standards under which the Board may grant additional exemptions from the requirements of section 23A?    7807


Subpart F — General Provisions of Section 23B
SEC. 223.51    What is the market terms requirement of section 23B?    7807
SEC. 223.52    What transactions with affiliates or others must comply with section 23B's market terms requirement?    7808
SEC. 223.53    What asset purchases are prohibited by section 23B?    7808
SEC. 223.54    What advertisements and statements are prohibited by section 23B?    7809
SEC. 223.55    What are the standards under which the Board may grant exemptions from the requirements of section 23B?    7809


Subpart G — Application of Sections 23A and 23B to U.S. Branches and Agencies of Foreign Banks
SEC. 223.61    How do sections 23A and 23B apply to U.S. branches and agencies of foreign banks?    7809


Subpart H — Miscellaneous Interpretations
SEC. 223.71    How do sections 23A and 23B apply to transactions in which a member bank purchases from one affiliate an asset relating to another affiliate?    7810


PART 224—BORROWERS OF SECURITIES CREDIT (REGULATION X)
SEC. 224.1    Authority, purpose and scope    7841
SEC. 224.2    Definitions    7841
SEC. 224.3    Margin regulations to be applied by nonexempted borrowers    7842


[The page following this is 7509.]

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