reglab/statecodes huggingface dataset:
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 3 - Eligible Assets › Section 10.16051 - Valuation

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
For purposes of Financial Code Section
							 1811(b)(2),
							 the market value of an eligible asset shall be determined as follows:
(a) In the case of an eligible asset which is
						  being or is proposed to be deposited and received in or withdrawn and released
						  from a pledge deposit, as of the current date.
(b) In the case of an eligible asset which is
						  held in a pledge deposit and which is not being or proposed to be withdrawn and
						  released from such pledge deposit, as of a reasonably current date. For
						  purposes of this Subdivision (b), no determination of market value which is
						  more than one month old shall be deemed to be as of a reasonably current
						  date.
1.
							 Change without regulatory effect amending first paragraph and NOTE filed
							 8-21-2019 pursuant to section
							 100, title 1, California Code of
							 Regulations (Register 2019, No. 34).
Note: Authority cited: Section
								326,
								Financial Code. Reference: Section
								1811,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 4 - Adjusted Liabilities › Section 10.16075 - Scope

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
This Subpart contains regulations relating to
							 adjusted liabilities.
Note: Authority cited: Section
								215,
								Financial Code. Reference: Section
								1761,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 4 - Adjusted Liabilities › Section 10.16076 - Computation

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
In case the applicable minimum for a maintenance
							 period is to be determined on the basis of the adjusted liabilities of a
							 subject institution, the amount of such adjusted liabilities shall be computed
							 as follows:
(a) Add the adjusted
						  liabilities of the subject institution as of the close of business of each day
						  of the computation period next preceding the maintenance period. (For purposes
						  of this computation, the adjusted liabilities for any day on which the subject
						  institution is not open for business shall be deemed to be the same as the
						  adjusted liabilities as of the close of business on the next preceding day on
						  which the subject institution was open for business.)
(b) Divide the sum determined in accordance
						  with Subdivision (a) of this Section by the number of days in the computation
						  period.
(c) Round the quotient
						  determined in accordance with Subdivision (b) of this Section to the nearest
						  thousand dollars.
1.
							 Certificate of Compliance including amendment transmitted to OAL 2-11-82 and
							 filed 3-12-82 (Register 82, No. 11).
Note: Authority cited: Section
								215,
								Financial Code. Reference: Section
								1761,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 4 - Adjusted Liabilities › Section 10.16077 - International Banking Facility Liabilities

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) In this Section, "international banking
						  facility" has the meaning set forth in Section
						  204.8 of Regulation D of the Board
						  of Governors of the Federal Reserve System (12 C.F.R. Section
						  204.8).
(b) For purposes of determining the adjusted
						  liabilities of a subject institution, there shall be excluded the liabilities
						  of any international banking facility of a California state agency or branch
						  office of such subject institution.
1. New
							 section filed 3-12-82; effective thirtieth day thereafter (Register 82, No.
							 11).
Note: Authority cited: Section
								215,
								Financial Code. Reference: Section
								1761,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 5 - Applicable Minimum › Section 10.16100 - Scope

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
This Subpart contains regulations relating to the
							 applicable minimum.
Note: Authority cited: Section
								215,
								Financial Code. Reference: Section
								1761,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 5 - Applicable Minimum › Section 10.16101 - Amount

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Unless the Commissioner provides otherwise:
(a) In the case of a subject institution
						  which maintains one or more California state agencies, has one or more approved
						  but unopened California state agencies, or has closed one or more California
						  state agencies with respect to which it is still required to maintain eligible
						  assets on deposit with an approved depository, the applicable minimum for any
						  maintenance period shall be $1,000,000.
(b) In the case of a subject institution
						  which maintains one or more California state branch offices, has one or more
						  approved but unopened California state branch offices, or has closed one or
						  more California state branch offices with respect to which it is still required
						  to maintain eligible assets on deposit with an approved depository, the
						  applicable minimum for any maintenance period shall be the greater of:
(1) $2,000,000, or
(2) five percent of the subject institution's
						  adjusted liabilities computed in accordance with Section
						  10.16076 of this Chapter. However,
						  if the first of such offices was established less than one year before the
						  beginning of the maintenance period, the applicable minimum shall be not less
						  than the greater of $2,000,000 or five percent of the amount which the subject
						  institution estimated in its application for approval to establish such office
						  would be the adjusted liabilities of the office at the end of the first year of
						  operation of the office.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 5 - Applicable Minimum › Section 10.16102 - Increase or Decrease in Applicable Minimum

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
If the applicable minimum for a subject institution
							 changes from one maintenance period (hereafter in this Section referred to as
							 the "old maintenance period") to the next maintenance period (hereafter in this
							 section referred to as the "new maintenance period"):
(a) In case the applicable minimum increases
						  and the applicable minimum for the new maintenance period exceeds the total
						  value of the eligible assets which the subject institution maintains in the
						  pledge deposit, the subject institution shall deposit in the pledge deposit
						  additional eligible assets of sufficient value to raise the total value of the
						  eligible assets in the pledge deposit to an amount which equals or exceeds the
						  applicable minimum for the new maintenance period and the subject institution
						  shall make such deposit before the close of business on the last day of the old
						  maintenance period so that the subject institution will be in compliance with
						  Financial Code Section
						  1811(c)
						  when the new maintenance period begins.
(b) In case the applicable minimum decreases
						  and the applicable minimum for the new maintenance period is less than the
						  total value of the eligible assets which the subject institution maintains in
						  the pledge deposit, the subject institution may not withdraw eligible assets
						  from the pledge deposit so as to reduce the total value of the eligible assets
						  in the pledge deposit to an amount which is less than the applicable minimum
						  for the old maintenance period until the old maintenance period has ended and
						  the new maintenance period begins.
1.
							 Change without regulatory effect amending subsection (a) and NOTE filed
							 8-21-2019 pursuant to section
							 100, title 1, California Code of
							 Regulations (Register 2019, No. 34).
Note: Authority cited: Section
								326,
								Financial Code. Reference: Section
								1811,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 6 - Depositing, Receiving, and Holding Eligible Assets › Section 10.16125 - Scope

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
This Subpart contains regulations relating to the
							 depositing, receiving, and holding of eligible assets.
Note: Authority cited: Section
								215,
								Financial Code. Reference: Section
								1761,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 6 - Depositing, Receiving, and Holding Eligible Assets › Section 10.16126 - Multiple Pledge Deposits

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
No subject institution shall maintain pledge deposits
							 with more than one approved depository at the same time.
Note: Authority cited: Section
								215,
								Financial Code. Reference: Section
								1761,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 6 - Depositing, Receiving, and Holding Eligible Assets › Section 10.16127 - Non-Eligible Assets

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) No
						  subject institution shall deposit, nor shall the approved depository of any
						  subject institution receive, in a pledge deposit any asset other than an
						  eligible asset.
(b) No subject
						  institution shall maintain in a pledge deposit any asset other than an eligible
						  asset.
1.
							 Certificate of Compliance including amendment of NOTE transmitted to OAL
							 2-11-82 and filed 3-12-82 (Register 82, No. 11).
Note: Authority cited: Section
								215,
								Financial Code. Reference: Section
								1761,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 6 - Depositing, Receiving, and Holding Eligible Assets › Section 10.16128 - Documentation

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Whenever a subject institution deposits, and the
							 approved depository of such subject institution receives, an eligible asset in
							 a pledge deposit, the subject institution shall provide to the approved
							 depository, and the approved depository shall obtain from the subject
							 institution, such documentation as may be necessary to enable the approved
							 depository to transfer title to the eligible asset to the Commissioner pursuant
							 to Financial Code Section
							 1811(h).
1.
							 Change without regulatory effect amending section filed 8-19-97 pursuant to
							 section 100, title 1, California Code of
							 Regulations (Register 97, No. 34).
2. Change without regulatory
							 effect amending section and NOTE filed 8-21-2019 pursuant to section
							 100, title 1, California Code of
							 Regulations (Register 2019, No. 34).
Note: Authority cited: Section
								326,
								Financial Code. Reference: Section
								1811,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 6 - Depositing, Receiving, and Holding Eligible Assets › Section 10.16129 - Segregation

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Whenever the approved depository of a subject
							 institution holds eligible assets in a pledge deposit, it shall keep such
							 eligible assets separate and apart from other assets held by it and shall
							 segregate the eligible assets on its books and account from other assets held
							 by it. However, the approved depository may deposit and maintain the eligible
							 assets in a book-entry account with the Federal Reserve
							 System.
Note: Authority cited: Section
								215,
								Financial Code. Reference: Section
								1761,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 6 - Depositing, Receiving, and Holding Eligible Assets › Section 10.16130 - Examination

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The approved depository of a subject institution
							 shall permit the Commissioner to examine during regular business hours any
							 eligible assets which it holds in a pledge deposit and any records relating to
							 such eligible assets and pledge deposit.
1.
							 Certificate of Compliance including amendment of NOTE transmitted to OAL
							 2-11-82 and filed 3-12-82 (Register 82, No. 11).
2. Change without
							 regulatory effect amending section filed 8-19-97 pursuant to section
							 100, title 1, California Code of
							 Regulations (Register 97, No. 34).
Note: Authority cited: Section
								215,
								Financial Code. Reference: Sections
								215 and
								1761,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 6 - Depositing, Receiving, and Holding Eligible Assets › Section 10.16131 - Deficiencies-Subject Institution

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
						  A subject institution shall monitor its pledge deposit at least once each month
						  to ensure that it is in compliance with the requirements of Financial Code
						  Section
						  1811 and
						  this Part, including the requirements that all assets in such pledge deposit be
						  eligible assets and that the total value of the eligible assets in the pledge
						  deposit be no less than the applicable minimum.
(b) Whenever a subject institution finds that
						  the total value of the eligible assets in its pledge deposit is less than the
						  applicable minimum, it shall immediately report the matter to the Commissioner
						  by telephone, immediately deposit in its pledge deposit eligible assets having
						  a value sufficient to correct the deficiency, and promptly thereafter serve a
						  written report regarding the matter on the Commissioner.
(c) Whenever a subject institution finds that
						  any asset in its pledge deposit is not an eligible asset:
(1) In case, after deducting the value of
						  such non-eligible asset, the total value of the eligible assets in the pledge
						  deposit is less than the applicable minimum, the subject institution shall
						  comply with the provisions of Subdivision (b) of this Section and, in addition,
						  shall promptly withdraw the non-eligible asset from the pledge
						  deposit.
(2) In any other case, the
						  subject institution shall promptly withdraw the non-eligible asset from the
						  pledge deposit.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 6 - Depositing, Receiving, and Holding Eligible Assets › Section 10.16132 - Deficiencies-Approved Depository

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Whenever an officer or employee of the approved
							 depository of a subject institution, acting in the course and scope of his or
							 her employment, obtains actual knowledge that the total value of the eligible
							 assets in the pledge deposit for such subject institution is less than the
							 applicable minimum, such approved depository shall immediately report the
							 matter to the Commissioner by telephone. In addition, promptly thereafter, the
							 approved depository shall serve a written report regarding the matter on the
							 Commissioner and simultaneously serve a copy of such written report on the
							 subject institution.
1.
							 Change without regulatory effect amending section filed 8-19-97 pursuant to
							 section 100, title 1, California Code of
							 Regulations (Register 97, No. 34).
Note: Authority cited: Section
								215,
								Financial Code. Reference: Sections
								1705 and
								1761,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 7 - Withdrawal and Release of Eligible Assets-Blanket Approval [Repealed] › Section 10.16150 - Scope

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Note: Authority cited: Section
								215,
								Financial Code. Reference: Section
								1761,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 7 - Withdrawal and Release of Eligible Assets-Blanket Approval [Repealed] › Section 10.16151 - Alternative

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Note: Authority cited: Section
								215,
								Financial Code. Reference: Section
								1761,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 7 - Withdrawal and Release of Eligible Assets-Blanket Approval [Repealed] › Section 10.16152 - Substitution

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Note: Authority cited: Section
								215,
								Financial Code. Reference: Section
								1761,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 7 - Withdrawal and Release of Eligible Assets-Blanket Approval [Repealed] › Section 10.16153 - Reliance on Report Determination of Applicable Minimum by Approved Depository

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Note: Authority cited: Section
								215,
								Financial Code. Reference: Section
								1761,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 7 - Withdrawal and Release of Eligible Assets-Blanket Approval [Repealed] › Section 10.16154 - Blanket Approval

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Note: Authority cited: Section
								215,
								Financial Code. Reference: Section
								1761,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 7 - Withdrawal and Release of Eligible Assets-Blanket Approval [Repealed] › Section 10.16155 - Election

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Note: Authority cited: Section
								215,
								Financial Code. Reference: Sections 1705 and
								1761, Financial
								Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 7 - Withdrawal and Release of Eligible Assets-Blanket Approval [Repealed] › Section 10.16156 - Certification Regarding Withdrawal and Release

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Note: Authority cited: Section
								215,
								Financial Code. Reference: Sections 1706 and
								1761, Financial
								Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 7 - Withdrawal and Release of Eligible Assets-Blanket Approval [Repealed] › Section 10.16157 - Monitoring Compliance and Quarterly Certification

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Note: Authority cited: Section
								215,
								Financial Code. Reference: Section
								1761,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 8 - Withdrawal and Release of Eligible Assets-Blanket Approval › Section 10.16175 - Scope

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
This Subpart grants blanket approval for the
							 withdrawal and release of eligible assets from a pledge deposit subject to
							 compliance with specified requirements.
Note: Authority cited: Section
								215,
								Financial Code. Reference: Section
								1761,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 8 - Withdrawal and Release of Eligible Assets-Blanket Approval › Section 10.16176 - Alternative

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
							 Certificate of Compliance including amendment transmitted to OAL 2-11-82 and
							 filed 3-12-82 (Register 82, No. 11).
2. Amendment filed 3-12-82;
							 effective thirtieth day thereafter (Register 82, No. 11).
3.
							 Repealer filed 4-7-97; operative 4-7-97 pursuant to Government Code section
							 11343.4(d)
							 (Register 97, No. 15).
Note: Authority cited: Section
								215,
								Financial Code, Reference Section
								1761,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 8 - Withdrawal and Release of Eligible Assets-Blanket Approval › Section 10.16177 - Blanket Approval

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Pursuant to Financial Code Section
							 1811(d),
							 approval is granted for a subject institution to withdraw, and for the approved
							 depository of such subject institution to release, eligible assets from a
							 pledge deposit during a maintenance period, provided that the subject
							 institution and such approved depository comply with the provisions of Sections
							 10.16178 and
							 10.16179 of this
							 Chapter.
1.
							 Change without regulatory effect amending section and NOTE filed 8-21-2019
							 pursuant to section
							 100, title 1, California Code of
							 Regulations (Register 2019, No. 34).
Note: Authority cited: Section
								326,
								Financial Code. Reference: Section
								1811,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 8 - Withdrawal and Release of Eligible Assets-Blanket Approval › Section 10.16178 - Deposit and Receipt of Eligible Assets of Equal or Greater Value

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
At the same time as a subject institution withdraws,
							 and the approved depository of such subject institution releases, an eligible
							 asset from a pledge deposit under the blanket approval granted in Section
							 10.16177 of this Chapter, the
							 subject institution shall deposit, and the approved depository shall receive,
							 in the pledge deposit an eligible asset having a value at least equal to the
							 value of the eligible asset withdrawn and released.
1.
							 Amendment filed 3-12-82; effective thirtieth day thereafter (Register 82, No.
							 11).
Note: Authority cited: Section
								215,
								Financial Code. Reference: Section
								1761,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 8 - Withdrawal and Release of Eligible Assets-Blanket Approval › Section 10.16179 - Certification

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Before the approved depository of a subject
							 institution releases an eligible asset from a pledge deposit, under the blanket
							 approval granted in Section
							 10.16177 of this Chapter, two
							 officers of the approved depository shall make a certification in duplicate
							 that the eligible asset deposited and received in the pledge deposit has a
							 value at least equal to the value of the eligible asset withdrawn and released.
							 The approved depository shall retain one copy of such certification for a
							 period of not less than two years after the release. Concurrently with or
							 promptly after the release, the aproved depository shall serve the other copy
							 of the certification on the subject institution, and the subject institution
							 shall retain such other copy for a period of not less than two years after the
							 release.
1.
							 Amendment filed 3-12-82; effective thirtieth day thereafter (Register 82, No.
							 11).
Note: Authority cited: Section
								215,
								Financial Code. Reference: Sections
								1706 and
								1761,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 9 - Withdrawal and Release of Eligible Assets-Specific Approval › Section 10.16200 - Scope

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
This Subpart contains regulations relating to
							 specific approval for the withdrawal and release of eligible assets from a
							 pledge deposit.
Note: Authority cited: Section
								215,
								Financial Code. Reference: Section
								1761,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 9 - Withdrawal and Release of Eligible Assets-Specific Approval › Section 10.16201 - Application

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
An application by a subject institution for specific
							 approval to withdraw an eligible asset from a pledge deposit shall be in the
							 form of Department Form 93, shall contain the information called for in such
							 Form and in the instructions for the Form, shall be signed as required in the
							 Form and instructions, and shall be verified and certified if and as required
							 in the Form and instructions.
1.
							 Amendment filed 3-12-82; effective thirtieth day thereafter (Register 82, No.
							 11).
Note: Authority cited: Section
								215,
								Financial Code. Reference: Sections
								1703 and
								1761,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 9 - Withdrawal and Release of Eligible Assets-Specific Approval › Section 10.16202 - Conditions of Specific Approval

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Any specific approval which the Commissioner grants
							 pursuant to Financial Code Section
							 1811(d)
							 for a subject institution to withdraw and for the approved depository of such
							 subject institution to release, an eligible asset from a pledge deposit shall,
							 unless otherwise provided in such specific approval, be subject to the
							 following conditions:
(a) That no
						  other eligible asset shall have been withdrawn or released from the pledge
						  deposit during the period beginning on the date of the application called for
						  in Section
						  10.16201 of this Chapter and
						  ending at the time of the withdrawal and release authorized under the specific
						  approval.
(b) That the specific
						  approval shall expire at the end of the maintenance period during which it is
						  issued.
1.
							 Repealer of Section
							 10.16202 and renumbering and
							 amendment of former Section
							 10.16203 to Section
							 10.16202 filed 3-12-82; effective
							 thirtieth day thereafter (Register 82, No. 11). For prior history, see Register
							 81, No. 44.
2. Change without regulatory effect amending section
							 filed 8-19-97 pursuant to section
							 100, title 1, California Code of
							 Regulations (Register 97, No. 34).
3. Change without regulatory
							 effect amending first paragraph and NOTE filed 8-21-2019 pursuant to section
							 100, title 1, California Code of
							 Regulations (Register 2019, No. 34).
Note: Authority cited: Section
								326,
								Financial Code. Reference: Section
								1811,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 9 - Withdrawal and Release of Eligible Assets-Specific Approval › Section 10.16203 - Conditions of Specific Approval. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
							 Renumbering and amendment of Section
							 10.16203 to Section
							 10.16202 filed 3-12-82; effective
							 thirtieth day thereafter (Register 82, No. 11).
Note: Authority cited: Section
								215,
								Financial Code. Reference: Section
								1761,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 10 - Reports › Section 10.16225 - Scope

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
This Subpart contains regulations relating to reports
							 which a subject institution and the approved depository of a subject
							 institution are required to make regarding a pledge deposit.
Note: Authority cited: Section
								215,
								Financial Code. Reference: Sections
								1705 and
								1761,
								Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 10 - Reports › Section 10.16226 - Report Regarding Applicable Minimum

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) This section does not apply to any
						  subject institution for which the applicable minimum is fixed by Section
						  10.16101(a) of
						  this Chapter.
(b)
(1) Not less than ten days before each
						  maintenance period, a subject institution shall serve on the Commissioner a
						  report which is in the form of Department Form 95, contains the information
						  called for in such Form and in the instructions for the Form, is signed as
						  required in the Form and instructions, and is verified if and as required in
						  the Form and instructions.
(2) In
						  case a subject institution, in making the report called for in Paragraph (1) of
						  this Subdivision (a), determines the applicable minimum on the basis of its
						  adjusted liabilities, such subject institution shall retain the work papers for
						  such report for a period of not less than two years.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 6 - California State Offices of Foreign (Other Nation) Banks › Subarticle 3 - Agencies and Branch Offices › Part 10 - Deposit of Eligible Assets › Subpart 10 - Reports › Section 10.16227 - Quarterly Report

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Not
						  more than 30 days after the end of each maintenance period, the approved
						  depository of a subject institution shall file with the Commissioner a report
						  which is verified by an officer of such approved depository and which contains
						  the following information:
(1) Describe each
						  eligible asset in the pledge deposit as of the end of the maintenance
						  period.
(2) State the total value
						  of the eligible assets in the pledge deposit as of the close of business on the
						  last day of the maintenance period.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 7 - Acquiring and Holding Equity Securities of Corporations › Subarticle 2 - Investing in Corporations › Part 1 - General Provisions › Section 10.19050 - Definition of "Subject Institution" and Scope

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) In this Subarticle, "subject institution"
						means:
(1) Any California state
						bank.
(2) Any foreign (other
						nation) bank which is licensed under Article 3 (commencing with Section
						1750) of Chapter 13.5 of the
						Banking Law to maintain one or more California state depositary agencies or
						branch offices, with respect to such agencies or branch
						offices.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 7 - Acquiring and Holding Equity Securities of Corporations › Subarticle 2 - Investing in Corporations › Part 1 - General Provisions › Section 10.19051 - Other Definitions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
						In this Subarticle:
(1) To "invest," when used
						with respect to a corporation, means:
(A) To
						invest in equity securities of the corporation;
(B) To become or be the owner of any other
						securities of the corporation;
(C)
						To make a loan or otherwise extend credit to or for the benefit of the
						corporation; or
(D) To become or be
						an obligee of the corporation with respect to the payment of
						money.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 7 - Acquiring and Holding Equity Securities of Corporations › Subarticle 2 - Investing in Corporations › Part 1 - General Provisions › Section 10.19052 - Calculation of Total Amount Invested

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
In this Subarticle, for purposes of calculating the
						  total amount invested in a corporation by a subject institution, there shall be
						  included not only amounts invested in the corporation by the subject
						  institution under Financial Code Section
						  1472 but
						  also any amounts otherwise invested in the corporation by the subject
						  institution. Thus, there shall be included all securities (both equity and
						  non-equity securities) of the corporation owned by the subject institution, all
						  contributions to the capital of the corporation made by the subject
						  institution, all loans made or credit otherwise extended by the subject
						  institution to or for the benefit of the corporation, and any other obligations
						  of the corporation to pay money to the subject institution.
1.
						  Change without regulatory effect amending section and NOTE filed 8-21-2019
						  pursuant to section
						  100, title 1, California Code of
						  Regulations (Register 2019, No. 34).
Note: Authority cited: Section
							 326,
							 Financial Code. Reference: Section
							 1472,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 7 - Acquiring and Holding Equity Securities of Corporations › Subarticle 2 - Investing in Corporations › Part 1 - General Provisions › Section 10.19053 - Not Applicable to Specified Cases. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						  Change without regulatory effect repealing section filed 8-21-2019 pursuant to
						  section 100, title 1, California Code of
						  Regulations (Register 2019, No. 34).
Note: Authority cited: Section
							 215,
							 Financial Code. Reference: Section
							 772,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 7 - Acquiring and Holding Equity Securities of Corporations › Subarticle 2 - Investing in Corporations › Part 1 - General Provisions › Section 10.19054 - Relationships to Other Provisions of Law. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						  Change without regulatory effect repealing section filed 8-21-2019 pursuant to
						  section 100, title 1, California Code of
						  Regulations (Register 2019, No. 34).
Note: Authority cited: Section
							 215,
							 Financial Code. Reference: Section
							 772,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 7 - Acquiring and Holding Equity Securities of Corporations › Subarticle 2 - Investing in Corporations › Part 1 - General Provisions › Section 10.19055 - Violations

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
If the Commissioner finds that any subject institution
						  or any regulated corporation has violated any provision of this Subarticle, the
						  Commissioner may issue such orders as may be appropriate or necessary in the
						  circumstances, including an order ordering the subject institution or the
						  regulated corporation to cease and desist from the violation, an order ordering
						  the subject institution or the regulated corporation to take affirmative action
						  to correct the conditions resulting from the violation, or an order ordering
						  the subject institution to divest itself of its investment in the regulated
						  corporation.
1.
						  Change without regulatory effect amending section filed 8-19-97 pursuant to
						  section 100, title 1, California Code of
						  Regulations (Register 97, No. 34).
Note: Authority cited: Section
							 215,
							 Financial Code. Reference: Sections
							 215 and
							 772,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 7 - Acquiring and Holding Equity Securities of Corporations › Subarticle 2 - Investing in Corporations › Part 1 - General Provisions › Section 10.19056 - Permit Reform Act of 1981. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						  Change without regulatory effect amending section filed 8-19-97 pursuant to
						  section 100, title 1, California Code of
						  Regulations (Register 97, No. 34).
2. Change without regulatory
						  effect repealing section filed 8-21-2019 pursuant to section
						  100, title 1, California Code of
						  Regulations (Register 2019, No. 34).
Note: Authority cited: Section
							 15376,
							 Government Code. Reference: Section
							 15376,
							 Government Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 7 - Acquiring and Holding Equity Securities of Corporations › Subarticle 2 - Investing in Corporations › Part 1 - General Provisions › Section 10.19060 - Scope. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						  Change without regulatory effect repealing part 2 (subparts 1-3, sections
						  10.19060-10.19085), subpart 1
						  (sections 10.19060-10.19061) and section
						  filed 8-21-2019 pursuant to section
						  100, title 1, California Code of
						  Regulations (Register 2019, No. 34).
Note: Authority cited: Section
							 215,
							 Financial Code. Reference: Section
							 772,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 7 - Acquiring and Holding Equity Securities of Corporations › Subarticle 2 - Investing in Corporations › Part 1 - General Provisions › Section 10.19061 - Requirement of Authorization. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						  Change without regulatory effect repealing section filed 8-21-2019 pursuant to
						  section 100, title 1, California Code of
						  Regulations (Register 2019, No. 34).
Note: Authority cited: Section
							 215,
							 Financial Code. Reference: Section
							 772,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 10 - Banks › Article 7 - Acquiring and Holding Equity Securities of Corporations › Subarticle 2 - Investing in Corporations › Part 1 - General Provisions › Section 10.19070 - Scope. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						  Change without regulatory effect repealing subpart 2 (sections
						  10.19070-10.19073) and section
						  filed 8-21-2019 pursuant to section
						  100, title 1, California Code of
						  Regulations (Register 2019, No. 34).
Note: Authority cited: Section
							 215,
							 Financial Code. Reference: Section
							 772,
							 Financial Code.