17 CFR 401.5 - Exemption for corporate credit unions transacting limited government securities business with other credit unions.

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There is 1 rule appearing in the Federal Register for 17 CFR 401. View below or at eCFR (GPOAccess)
§ 401.5 Exemption for corporate credit unions transacting limited government securities business with other credit unions.
(a)
(1) Subject to the requirements of paragraph (b) of this section, a corporate credit union shall be exempt from the provisions of section 15C (a), (b) and (d) of the Act (15 U.S.C. 78o-5 (a), (b), (d)) and the regulations thereunder if its government securities dealer activities are limited to the sale and subsequent repurchase and the purchase and subsequent resale, each pursuant to a repurchase or reverse repurchase agreement, of government securities to other credit unions and such other activities as have been exempted by regulation under this part.
(2) For the purposes of this section, “corporate credit union” means a credit union whose membership consists primarily of other credit unions and that is (i) a Federal credit union as defined in 12 U.S.C. 1752(1), (ii) an insured credit union as defined in 12 U.S.C. 1752(7), or (iii) a member of the National Credit Union Administration Central Liquidity Facility.
(b) A credit union that relies on the exemption contained in paragraph (a) of this section is required to comply with:
(1) The regulations of part 450 of this chapter concerning custodial holdings of government securities; and
(2) Section 403.5(d) concerning certain repurchase transactions with customers.

Title 17 published on 2014-04-01

The following are only the Rules published in the Federal Register after the published date of Title 17.

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

  • 2014-07-08; vol. 79 # 130 - Tuesday, July 8, 2014
    1. 79 FR 38451 - Government Securities Act Regulations; Replacement of References to Credit Ratings and Technical Amendments
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Office of the Assistant Secretary for Financial Markets
      Final rule.
      The amendments will become effective August 7, 2014.
      17 CFR Parts 400, 401, 402, 403, 405, 420, 449, and 450

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United States Code
U.S. Code: Title 15 - COMMERCE AND TRADE

Title 17 published on 2014-04-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 17 CFR 401 after this date.

  • 2014-07-08; vol. 79 # 130 - Tuesday, July 8, 2014
    1. 79 FR 38451 - Government Securities Act Regulations; Replacement of References to Credit Ratings and Technical Amendments
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Office of the Assistant Secretary for Financial Markets
      Final rule.
      The amendments will become effective August 7, 2014.
      17 CFR Parts 400, 401, 402, 403, 405, 420, 449, and 450