§ 252.87. Identification of global systemically important foreign banking organizations.
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/us/cfr/t12/s§ 252.87·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)For purposes of this subpart, a top-tier foreign banking organization that is or controls a covered company (as defined at 12 CFR 243.2(f)) is a global systemically important foreign banking organization if any of the following conditions is met:
(1)The top-tier foreign banking organization determines, pursuant to paragraph
(c)of this section, that the top-tier foreign banking organization has the characteristics of a global systemically important banking organization under the global methodology; or
(2)The Board, using information available to the Board, determines:
(i)That the top-tier foreign banking organization would be a global systemically important banking organization under the global methodology;
(ii)That the top-tier foreign banking organization, if it were subject to the Board's Regulation Q (part 217 of this chapter), would be identified as a global systemically important BHC under § 217.402 of the Board's Regulation Q; or
(iii)That any U.S. intermediate holding company controlled by the top-tier foreign banking organization, if the U.S. intermediate holding company is or were subject to § 217.402 of the Board's Regulation Q, is or would be identified as a global systemically important BHC.
(b)Each top-tier foreign banking organization that determines pursuant to paragraph
(c)of this section that it has the characteristics of a global systemically important banking organization under the global methodology must notify the Board of the determination by January 1 of each calendar year.
(c)A top-tier foreign banking organization that is or controls a covered company (as defined at 12 CFR 243.2(f)) and prepares or reports for any purpose the indicator amounts necessary to determine whether the top-tier foreign banking organization is a global systemically important banking organization under the global methodology must use the data to determine whether the top-tier foreign banking organization has the characteristics of a global systemically important banking organization under the global methodology.
(d)Each top-tier foreign banking organization that controls a U.S. intermediate holding company and that meets the requirements of § 252.153(b)(5) and
(6)also meets the requirements of paragraphs
(b)and
(c)of this section.
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§ 252.87
Identification of global systemically important foreign banking organizations.
Fed. Reg.×25
C.F.R.×2
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