12 CFR 223.11 - What is the maximum amount of covered transactions that a member bank may enter into with any single affiliate?

Regulations last checked for updates: Oct 17, 2024

Title 12 - Banks and Banking last revised: Oct 15, 2024

View all text of Subpart B [§ 223.11 - § 223.16]

§ 223.11 - What is the maximum amount of covered transactions that a member bank may enter into with any single affiliate?

A member bank may not engage in a covered transaction with an affiliate (other than a financial subsidiary of the member bank) if the aggregate amount of the member bank's covered transactions with such affiliate would exceed 10 percent of the capital stock and surplus of the member bank.

authority: 12 U.S.C. 371c(b)(1)(E), (b)(2)(A), and (f), 371c-1(e), 1828(j), 1468(a), and section 312(b)(2)(A) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 5412)

source: 67 FR 76604, Dec. 12, 2002, unless otherwise noted.

cite as: 12 CFR 223.11