§ 238.150. Applicability and general provisions.
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/us/cfr/t12/s§ 238.150·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)In general. This subpart establishes single counterparty credit limits for a covered company. For purposes of this subpart, covered company means:
(i)A Category II savings and loan holding company; or
(ii)A Category III savings and loan holding company.
(b)Credit exposure limits.
(1)Section 238.152 establishes credit exposure limits for a covered company.
(2)A covered company is required to calculate its aggregate net credit exposure, gross credit exposure, and net credit exposure to a counterparty using the methods in this subpart.
(c)Applicability of this subpart.
(1)A covered company that becomes subject to this subpart must comply with the requirements of this subpart beginning on the first day of the ninth calendar quarter after it becomes a covered company, unless that time is accelerated or extended by the Board in writing.
(2)[Reserved]
(d)Cessation of requirements. Any company that becomes a covered company will remain subject to the requirements of this subpart unless and until it is not a Category II savings and loan holding company or a Category III savings and loan holding company. Editorial Note:At 84 FR 59087, Nov. 1, 2019, subpart Q was added, and within that subpart, § 238.150 was added with incorrect paragraph coding in paragraph (a).
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§ 238.150
Applicability and general provisions.
Fed. Reg.×1
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