Source: https://www.law.cornell.edu/cfr/text/12/329.40
Timestamp: 2019-10-16 00:11:56
Document Index: 584583793

Matched Legal Cases: ['§ 329', 'art 329', '§ 329', '§ 329', '§ 329', '§ 329', '§ 329', '§ 329', '§ 329']

12 CFR § 329.40 - Liquidity coverage shortfall: Supervisory framework. | CFR | US Law | LII / Legal Information Institute
Part 329. LIQUIDITY RISK MEASUREMENT STANDARDS
Subpart E. Liquidity Coverage Shortfall
Section 329.40. Liquidity coverage shortfall: Supervisory framework.
12 CFR § 329.40 - Liquidity coverage shortfall: Supervisory framework.
§ 329.40 Liquidity coverage shortfall: Supervisory framework.
(a)Notification requirements. must notify the FDIC on any business day when its liquidity coverage ratio is calculated to be less than the minimum requirement in § 329.10.
(b)Liquidity plan.
(1) For the period during which an FDIC-supervised institution must calculate a liquidity coverage ratio on the last business day of each applicable calendar month under subpart F of this part, if the FDIC-supervised institution's liquidity coverage ratio is below the minimum requirement in § 329.10 for any calculation date that is the last business day of the applicable calendar month, or if the FDIC has determined that the FDIC-supervised institution is otherwise materially noncompliant with the requirements of this part, the FDIC-supervised institution must promptly consult with the FDIC to determine whether the FDIC-supervised institution must provide to the FDIC a plan for achieving compliance with the minimum liquidity requirement in § 329.10 and all other requirements of this part.
(2) For the period during which an FDIC-supervised institution must calculate a liquidity coverage ratio each business day under subpart F of this part, if a FDIC-supervised institution's liquidity coverage ratio is below the minimum requirement in § 329.10 for three consecutive business days, or if the FDIC has determined that the FDIC-supervised institution is otherwise materially noncompliant with the requirements of this part, the FDIC-supervised institution must promptly provide to the FDIC a plan for achieving compliance with the minimum liquidity requirement in § 329.10 and all other requirements of this part.
(c)Supervisory and enforcement actions. The FDIC may, at its discretion, take additional supervisory or enforcement actions to address noncompliance with the minimum liquidity standard and other requirements of this part.