12 CFR 48.1 - Authority, purpose, and scope.

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§ 48.1 Authority, purpose, and scope.
(a) Authority.—(1) National banks. A national bank may offer or enter into retail foreign exchange transactions. A national bank offering or entering into retail foreign exchange transactions must comply with the requirements of this part.
(2) Federal savings associations. A Federal savings association may offer or enter into retail foreign exchange transactions. A Federal savings association offering or entering into retail foreign exchange transactions must comply with the requirements of this part as if each reference to a national bank were a reference to a Federal savings association.
(b) Purpose. This part establishes rules applicable to retail foreign exchange transactions engaged in by national banks and applies on or after the effective date.
(c) Scope. Except as provided in paragraph (d) of this section, this part applies to national banks.
(d) International applicability.Sections 48.3 and 48.5 to 48.16 do not apply to retail foreign exchange transactions between a foreign branch of a national bank and a non-U.S. customer. With respect to those transactions, the foreign branch remains subject to any disclosure, recordkeeping, capital, margin, reporting, business conduct, documentation, and other requirements of foreign law applicable to the branch.
[76 FR 41384, July 14, 2011, as amended at 76 FR 56096, Sept. 12, 2011]

Title 12 published on 2014-01-01

no entries appear in the Federal Register after this date.

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.


United States Code
U.S. Code: Title 7 - AGRICULTURE
U.S. Code: Title 12 - BANKS AND BANKING

§ 1 - Office of the Comptroller of the Currency

§ 2 - Comptroller of the Currency; appointment; term

§ 3 - Oath of Comptroller

§ 4 - Deputy Comptrollers

§ 4a - Delegation of authority by Comptroller

§ 4b - Deputy Comptroller for the supervision and examination of Federal savings associations

§ 5, 6 - Repealed.

§ 7 - Chief of examining division

§ 8 - Clerks

§ 9 - Additional examiners, clerks, and other employees

§ 9a - Repealed.

§ 10 - Salaries of Deputy Comptrollers, examiners, and other employees as part of bank examination expenses

§ 11 - Interest in national banks

§ 12 - Seal of Comptroller

§ 13 - Rooms for Currency Bureau

§ 14 - Report of Comptroller

§ 15 - Repealed. Aug. 7, 1946, ch. 770,

§ 16 - Funding of Office

§ 24 - Corporate powers of associations

§ 93a - Authority to prescribe rules and regulations

§ 161 - Reports to Comptroller of the Currency

§ 1462a - Administrative provisions

§ 1463 - Supervision of savings associations

§ 1464 - Federal savings associations

§ 1813 - Definitions

§ 1818 - Termination of status as insured depository institution

12 U.S. Code § -

§ 3101 - Definitions

§ 3102 - Establishment of Federal branches and agencies by foreign bank

§ 3103 - Interstate banking by foreign banks

§ 3104 - Insurance of deposits

§ 3105 - Authority of Federal Reserve System

§ 3106 - Nonbanking activities of foreign banks

§ 3106a - Compliance with State and Federal laws

§ 3107 - Representative offices

§ 3108 - Regulation and enforcement

§ 3109 - Cooperation with foreign supervisors

§ 3110 - Penalties

§ 3111 - Criminal penalty

§ 5412 - Powers and duties transferred