Source: http://www.law.cornell.edu/cfr/text/12/208.1
Timestamp: 2014-09-18 10:22:57
Document Index: 235300267

Matched Legal Cases: ['art 208', '§ 208', 'art 208', 'art 208', 'art 208', '§ 208', 'art 208', '§ 78', '§ 32', '§ 78', '§ 32', '§ 78', '§ 1681', '§ 1681', '§ 6801', '§ 6805']

12 CFR 208.1 - Authority, purpose, and scope. | LII / Legal Information Institute
CFR › Title 12 › Chapter II › Subchapter A › Part 208 › Subpart A › Section 208.1 12 CFR 208.1 - Authority, purpose, and scope.
There are 2 Updates appearing in the Federal Register for 12 CFR 208. View below or at eCFR (GPOAccess)
§ 208.1
Subpart A of Regulation H (12 CFR part 208, subpart A) is issued by the Board of Governors of the Federal Reserve System (Board) under 12 U.S.C. 24, 36; sections 9, 11, 21, 25 and 25A of the Federal Reserve Act (12 U.S.C. 321-338a, 248(a), 248(c), 481-486, 601 and 611); sections 1814, 1816, 1818, 1831o, 1831p-1, 1831r-1 and 1835a of the Federal Deposit Insurance Act (FDI Act) (12 U.S.C. 1814, 1816, 1818, 1831o, 1831p-1, 1831r-1, and 1835); and 12 U.S.C. 3906-3909.
Purpose and scope of part 208.
The requirements of this part 208 govern State member banks and state banks applying for admission to membership in the Federal Reserve System (System) under section 9 of the Federal Reserve Act (Act), except for § 208.7, which also applies to certain foreign banks licensed by a State. This part 208 does not govern banks eligible for membership under section 2 or 19 of the Act. 1 Any bank desiring to be admitted to the System under the provisions of section 2 or 19 should communicate with the Federal Reserve Bank with which it would like to become a member.
1 Under section 2 of the Federal Reserve Act, every national bank in any state shall, upon commencing business, or within 90 days after admission into the Union of the State in which it is located, become a member of the System. Under section 19 of the Federal Reserve Act, national banks and banks organized under local laws, located in a dependency or insular possession or any part of the United States outside of the States of the United States and the District of Columbia, are not required to become members of the System but may, with the consent of the board, become members of the System.
Purpose and scope of subpart A.
This subpart A describes the eligibility requirements for membership of state-chartered banking institutions in the System, the general conditions imposed upon members, including capital and dividend requirements, as well as the requirements for establishing and maintaining branches.
U.S. Code: Title 15 - COMMERCE AND TRADE§ 78b - Necessity for regulation15 U.S. Code § -15 U.S. Code § 32, 33 - Repealed.§ 78q - Records and reports15 U.S. Code § 32, 33 - Repealed.§ 78w - Rules, regulations, and orders; annual reports§ 1681s - Administrative enforcement§ 1681w - Disposal of records§ 6801 - Protection of nonpublic personal information§ 6805 - Enforcement
Title 12 published on 2014-01-01The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR 208 after this date.2014-07-01; vol. 79 # 126 - Tuesday, July 1, 201479 FR 37166 - Interagency Guidelines Establishing Information Security Standards