§ 371b–2. Interbank liabilities
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/usc/title-12/section-371b-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The purpose of this section is to limit the risks that the failure of a large depository institution (whether or not that institution is an insured depository institution) would pose to insured depository institutions. The Board shall, by regulation or order, prescribe standards that have the effect of limiting the risks posed by an insured depository institution’s exposure to any other depository institution. For purposes of subsection (b), an insured depository institution’s “exposure” to another depository institution means— all extensions of credit to the other depository institution, regardless of name or description, including— all deposits at the other depository institution; all purchases of securities or other assets from the other depository institution subject to an agreement to repurchase; and all guarantees, acceptances, or letters of credit (including endorsements or standby letters of credit) on behalf of the other depository institution; all purchases of or investments in securities issued by the other depository institution; all securities issued by the other depository institution accepted as collateral for an extension of credit to any person; and all similar transactions that the Board by regulation determines to be exposure for purposes of this section.
The Board may, at its discretion, by regulation or order, exempt transactions from the definition of “exposure” if it finds the exemptions to be in the public interest and consistent with the purpose of this section. For purposes of this section, any transaction by an insured depository institution with any person is a transaction with another depository institution to the extent that the proceeds of the transaction are used for the benefit of, or transferred to, that other depository institution.
For purposes of this section, the term “insured depository institution” has the same meaning as in section 1813 of this title . The Board may issue such regulations and orders, including definitions consistent with this section, as may be necessary to administer and carry out the purpose of this section. The appropriate Federal banking agency shall enforce compliance with those regulations under section 1818 of this title . ( Dec. 23, 1913, ch. 6, § 23 , as added Pub. L. 102–242, title III, § 308(a) , Dec. 19, 1991 , 105 Stat. 2362 .)
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- Proposed RulesFinal rule
- NoticesBoard of Governors of the Federal Reserve System
- NoticesBoard of Governors of the Federal Reserve System
- Rules and RegulationsBoard of Governors of the Federal Reserve System
- NoticesBoard of Governors of the Federal Reserve System
- Rules and RegulationsFinal rule; technical amendments
- NoticesBoard of Governors of the Federal Reserve System
- Rules and RegulationsNotice of proposed rulemaking
- NoticesNotice, request for comment
- NoticesFEDERAL RESERVE SYSTEM
4 references not yet in our index
- Pub. L. 102-242
- 105 Stat. 2362
- 105 Stat. 2363
- 12 USC 371b–2
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§ 371b–2
Interbank liabilities
Fed. Reg.×12
C.F.R.×1
Pub. L.Pub. L. 102-242
Stat.105 Stat. 2362
Stat.105 Stat. 2363
Cite12 USC 371b–2
Cites 4Cited by 13 across 2 sources