GroundRules
12 CFR 348.1: Purpose and scope.
Where this section sits in the code
- Title 12—Banks and Banking
- CHAPTER III—FEDERAL DEPOSIT INSURANCE CORPORATION
- SUBCHAPTER B—REGULATIONS AND STATEMENTS OF GENERAL POLICY
- PART 348—MANAGEMENT OFFICIAL INTERLOCKS
(a) Authority. This part is issued under the provisions of the Depository Institution Management Interlocks Act (Interlocks Act) (12 U.S.C. 3201 et seq.), as amended.
(b) Purpose. The purpose of the Interlocks Act and this part is to foster competition by generally prohibiting a management official from serving two nonaffiliated depository organizations in situations where the management interlock likely would have an anticompetitive effect.
(c) Scope. This part applies to management officials of FDIC-supervised institutions and their affiliates.
Collected 2026-08-27T02:24:16Z. Source file · JSON