12 CFR 1.7 - Securities held in satisfaction of debts previously contracted; holding period; disposal; accounting treatment; non-speculative purpose.

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There is 1 rule appearing in the Federal Register for 12 CFR 1. View below or at eCFR (GPOAccess)
§ 1.7 Securities held in satisfaction of debts previously contracted; holding period; disposal; accounting treatment; non-speculative purpose.
(a) Securities held in satisfaction of debts previously contracted. The restrictions and limitations of this part, other than those set forth in paragraphs (b),(c), and (d) of this section, do not apply to securities acquired:
(1) Through foreclosure on collateral;
(2) In good faith by way of compromise of a doubtful claim; or
(3) To avoid loss in connection with a debt previously contracted.
(b) Holding period. A national bank holding securities pursuant to paragraph (a) of this section may do so for a period not to exceed five years from the date that ownership of the securities was originally transferred to the bank. The OCC may extend the holding period for up to an additional five years if a bank provides a clearly convincing demonstration as to why an additional holding period is needed.
(c) Accounting treatment. A bank shall account for securities held pursuant to paragraph (a) of this section in accordance with Generally Accepted Accounting Principles.
(d) Non-speculative purpose. A bank may not hold securities pursuant to paragraph (a) of this section for speculative purposes.

Title 12 published on 2014-01-01

The following are only the Rules published in the Federal Register after the published date of Title 12.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2014-02-28; vol. 79 # 40 - Friday, February 28, 2014
    1. 79 FR 11300 - Basel III Conforming Amendments Related to Cross-References, Subordinated Debt and Limits Based on Regulatory Capital
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Comptroller of the Currency
      Interim final rule and request for comments.
      This interim final rule is effective March 31, 2014. Comments must be received by March 31, 2014.
      12 CFR Parts 1, 4, 5, 16, 23, 24, 28, 32, 34, 46, 116, 143, 145, 159, 160, 161, 163 and 192

Title 12 published on 2014-01-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR 1 after this date.

  • 2014-02-28; vol. 79 # 40 - Friday, February 28, 2014
    1. 79 FR 11300 - Basel III Conforming Amendments Related to Cross-References, Subordinated Debt and Limits Based on Regulatory Capital
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Comptroller of the Currency
      Interim final rule and request for comments.
      This interim final rule is effective March 31, 2014. Comments must be received by March 31, 2014.
      12 CFR Parts 1, 4, 5, 16, 23, 24, 28, 32, 34, 46, 116, 143, 145, 159, 160, 161, 163 and 192