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Code · CFR · Title 12 — Banks and Banking · Part 223 — Transactions Between Member Banks and Their Affiliates (Regulation W) · § 223.43

§ 223.43. What are the standards under which the Board may grant additional exemptions from the requirements of section 23A?

137 words·~1 min read·/us/cfr/t12/s§ 223.43·

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(a)The standards. The Board may, at its discretion, by regulation or order, exempt transactions or relationships from the requirements of section 23A and subparts B, C, and D of this part if it finds such exemptions to be in the public interest and consistent with the purposes of section 23A.
(b)Procedure. A member bank may request an exemption from the requirements of section 23A and subparts B, C, and D of this part by submitting a written request to the General Counsel of the Board. Such a request must:
(1)Describe in detail the transaction or relationship for which the member bank seeks exemption;
(2)Explain why the Board should exempt the transaction or relationship; and
(3)Explain how the exemption would be in the public interest and consistent with the purposes of section 23A.
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§ 223.43
What are the standards under which the Board may grant additional exemptions from the requirements of section 23A?
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