GroundRules
12 CFR 354.1: 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 354—INDUSTRIAL BANKS
(a) In addition to the applicable filing procedures of part 303 of this chapter, this part establishes certain requirements for filings involving an industrial bank or a Covered Company.
(b) The requirements of this part do not apply to an industrial bank that is organized as a subsidiary of a company that is not subject to Federal consolidated supervision by the Federal Reserve Board (FRB) before April 1, 2021. In addition, this part does not apply to:
(1) Any industrial bank that is or becomes controlled by a company that is subject to Federal consolidated supervision by the FRB; and
(2) Any industrial bank that is not or will not become a subsidiary of a company.
Collected 2026-08-27T02:24:16Z. Source file · JSON