Can you summarize 12 CFR Part 243?
The provided legal document content pertains to Resolution Plans for covered companies under the jurisdiction of the Board of Governors of the Federal Reserve System. These documents are issued pursuant to section 165(d)(8) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and establish rules and requirements regarding the submission and content of a resolution plan, as well as procedures for review by the Board and Corporation of a resolution plan.
Can you summarize 12 CFR Part 246?
Regulation TT, issued by the Board of Governors of the Federal Reserve System, governs the assessments of fees for companies under the supervision and regulation of the Board. It applies to bank holding companies, savings and loan holding companies, foreign bank holding companies, foreign savings and loan holding companies, and nonbank financial companies supervised by the Board. The regulation defines an assessed company as a top-tier company with $100 billion or more in total consolidated assets.
Can you summarize 12 CFR Part 248?
The provided legal document content consists of multiple documents related to proprietary trading and certain interests in and relationships with covered funds. The documents are issued by the Board of Governors of the Federal Reserve System and are part of the Code of Federal Regulations. The main focus of these documents is to regulate and prohibit proprietary trading by banking entities. Proprietary trading refers to engaging as principal in the purchase or sale of financial instruments for the trading account of the banking entity.
Can you summarize 12 CFR Part 25?
The provided legal document governs the Community Reinvestment Act (CRA) and Interstate Deposit Production Regulations. It applies to banks, savings associations, national banks, Federal savings associations, State savings associations, insured Federal branches, and Federal branches resulting from specified acquisitions. However, it does not apply to special purpose banks or special purpose savings associations that do not perform commercial or retail banking services, limited Federal branches, and Federal agencies. The document establishes the framework and criteria for assessing an institution’s record of meeting the credit needs of its community, including low- and moderate-income neighborhoods.
Can you summarize 12 CFR Part 250?
The provided legal document content consists of interpretations and guidance on the applicability of Section 32 of the Glass-Steagall Act. Section 32 prohibits officers, directors, employees, and partners of certain entities primarily engaged in securities-related activities from serving as employees of member banks. The documents clarify the application of Section 32 to various scenarios, including the service of open-end investment companies, directors of member banks serving as directors of investment companies, officers, directors, or employees of member banks serving in similar capacities for licensee corporations under the Small Business Investment Act of 1958, proposed real estate investment companies, directors of corporations planning to acquire or organize subsidiaries, limited or special partners in firms primarily engaged in the business described in Section 32, interlocking service as an officer of a corporation primarily engaged in securities-related activities and a director of a member bank, short-term unsecured negotiable notes issued by large banks, and the establishment of a proposed ‘Commingled Investment Account’ by a national bank.
Can you summarize 12 CFR Part 251?
This regulation, known as Regulation XX, governs the concentration limit for covered acquisitions by financial companies. It prohibits a financial company from merging or consolidating with, acquiring all or substantially all of the assets of, or otherwise acquiring control of, another company if the resulting company’s consolidated liabilities would exceed 10 percent of the aggregate consolidated liabilities of all financial companies. The regulation applies to financial companies seeking to merge, consolidate, or acquire control of another company.
Can you summarize 12 CFR Part 261?
This legal document governs the disclosure, production, or withholding of information by the Board of Governors of the Federal Reserve System. It establishes mechanisms for carrying out the Board’s responsibilities regarding the availability of information to financial institutions and the public. The document defines various terms such as ‘affiliate’, ‘confidential supervisory information’, ’nonpublic information’, ‘records of the Board or Board records’, ‘search’, ‘supervised financial institution’, and ‘working day’. It specifies that confidential supervisory information includes reports of examination, inspection, and visitation; confidential operating and condition reports; supervisory assessments; investigative requests for documents or other information; and supervisory correspondence or other supervisory communications.
Can you summarize 12 CFR Part 261a?
The provided legal document content pertains to the rules regarding access to personal information under the Privacy Act 1974, as issued by the Board of Governors of the Federal Reserve System. These rules apply to individuals seeking access to personal information compiled by the Board. The document specifies that records about an individual contained in a system of records will not be disclosed to any person or agency without the individual’s prior written consent, unless authorized by 5 U.
Can you summarize 12 CFR Part 261b?
The provided legal document content pertains to the rules regarding public observation of meetings conducted by the Board of Governors of the Federal Reserve System and its subdivisions. The document outlines the definitions of key terms and clarifies that public observation allows the public to listen and observe the meetings but not record them without prior approval. It also mentions exceptions to public observation and specifies the number of members required for certain actions.
Can you summarize 12 CFR Part 262?
The provided legal document content consists of information related to the rules of procedure for regulations issued by the Board of Governors of the Federal Reserve System. It outlines the procedure for issuing regulations, including the publication of notices of proposed regulations or amendments in the Federal Register, public participation, and submission of data, views, or arguments. The document also governs the submission of applications, requests, or petitions for approval, authority, determination, or permission from the Board of Governors of the Federal Reserve System.