{"data":{"id":"us/12-cfr-347.112","jurisdiction":"us","citation":"12 CFR 347.112","heading":"Restrictions applicable to foreign organizations that act as futures commission merchants.","body":"(a) If a bank acquires or retains an equity interest in a foreign organization that acts as a futures commission merchant pursuant to § 347.105(b)(16), the foreign organization may not be a member of an exchange or clearing association that requires members to guarantee or otherwise contract to cover losses suffered by other members unless the:\n(1) Foreign organization's liability does not exceed two percent of the bank's Tier 1 capital, or\n(2) Bank has obtained the prior approval of the FDIC under § 347.120(d).\n(b) [Reserved]","path":["Title 12—Banks and Banking","CHAPTER III—FEDERAL DEPOSIT INSURANCE CORPORATION","SUBCHAPTER B—REGULATIONS AND STATEMENTS OF GENERAL POLICY","PART 347—INTERNATIONAL BANKING"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-12.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:16Z","sha256":"0c593f9be1b2d9d971ffbbf11017046f49763e384203bce00a230ae5ee7075a0","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-347.111","next":"us/12-cfr-347.113"},"notice":"GroundRules: Original legal text. Not legal advice."}