12 CFR 1.8 - Nonconforming investments.

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§ 1.8 Nonconforming investments.

(a) A national bank's investment in securities that no longer conform to this part but conformed when made will not be deemed in violation but instead will be treated as nonconforming if the reason why the investment no longer conforms to this part is because:

(1) The bank's capital declines;

(2) Issuers, obligors, or credit-enhancers merge;

(3) Issuers become related directly or indirectly through common control;

(4) The investment securities rules change;

(5) The security no longer qualifies as an investment security; or

(6) Other events identified by the OCC occur.

(b) A bank shall exercise reasonable efforts to bring an investment that is nonconforming as a result of events described in paragraph (a) of this section into conformity with this part unless to do so would be inconsistent with safe and sound banking practices.

Title 12 published on 11-Apr-2017 03:57

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR Part 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