Source: https://www.law.cornell.edu/cfr/text/12/252.70
Timestamp: 2020-01-19 11:05:45
Document Index: 522779962

Matched Legal Cases: ['§ 252', '§ 252', '§ 252', '§ 217', '§ 217', '§ 252', '§ 252', '§ 252', '§ 252']

12 CFR § 252.70 - Applicability and general provisions. | CFR | US Law | LII / Legal Information Institute
Subpart H. Single-Counterparty Credit Limits
Section 252.70. Applicability and general provisions.
12 CFR § 252.70 - Applicability and general provisions.
§ 252.70 Applicability and general provisions.
Link to an amendment published at 84 FR 59109, Nov. 1, 2019.
(1) This subpart establishes single counterparty credit limits for a covered company.
(i) Covered company means
(A) Any bank holding company (other than a foreign banking organization that is subject to subpart Q of this part, including any U.S. intermediate holding company of such foreign banking organization) with total consolidated assets that equal or exceed $250 billion; and
(B) Any U.S. bank holding company identified as a global systemically important BHC pursuant to § 217.402 of the Board's Regulation Q (12 CFR 217.402).
(ii) Major covered company means any covered company that is a U.S. bank holding company identified as a global systemically important BHC pursuant to § 217.402 of the Board's Regulation Q (12 CFR 217.402).
(b) Credit exposure limits.
(1) Section 252.72 establishes credit exposure limits for a covered company and a major covered company.
(c) Applicability of this subpart. (1)(i) A company that is a covered company as of October 5, 2018, must comply with the requirements of this subpart, including but not limited to § 252.72, beginning on July 1, 2020, unless that time is extended by the Board in writing.
(ii) Notwithstanding paragraph (c)(1)(i) of this section, a company that is a major covered company as of October 5, 2018, must comply with the requirements of this subpart, including but not limited to § 252.72, beginning on January 1, 2020, unless that time is extended by the Board in writing.
(d) Cessation of requirements.
(1) Any company that becomes a covered company will remain subject to the requirements of this subpart unless and until its total consolidated assets fall below $250 billion for each of four consecutive quarters, as reported on the covered company's FR Y-9C, effective on the as-of date of the fourth consecutive FR Y-9C.
(2) A covered company that has ceased to be a major covered company for purposes of § 252.72(b) is no longer subject to the requirements of § 252.72(b) beginning on the first day of the calendar quarter following the reporting date on which it ceased to be a major covered company; provided that the covered company remains subject to the requirements of this subpart, unless it ceases to be a covered company pursuant to paragraph (d)(1) of this section.