12 CFR 303.249 - Management official interlocks.

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There is 1 rule appearing in the Federal Register for 12 CFR 303. View below or at eCFR (GPOAccess)
§ 303.249 Management official interlocks.
(a) Scope. This section contains the procedures to be followed by an insured state nonmember bank to seek the approval of FDIC to establish an interlock pursuant to the Depository Institutions Management Interlocks Act (12 U.S.C. 3207), section 13 of the FDI Act (12 U.S.C. 1823(k)) and part 348 of this chapter (12 CFR part 348).
(b) Where to file. Applicants shall submit a letter application to the appropriate FDIC office.
(c) Content of filing. The application shall contain the following:
(1) A description of the proposed interlock;
(2) A statement of reason as to why the interlock will not result in a monopoly or a substantial lessening of competition; and
(3) If the applicant is seeking an exemption set forth in § 348.5 or 348.6 of this chapter, a description of the particular exemption which is being requested and a statement of reasons as to why the exemption is applicable.
(d) Additional information. The FDIC may request additional information at any time during processing of the filing.
(e) Processing. The FDIC will provide the applicant with written notification of the final action when the decision is rendered.
[67 FR 79247, Dec. 27, 2002. Redesignated at 71 FR 20526, Apr. 21, 2006]

Title 12 published on 2014-01-01

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  • 2014-04-14; vol. 79 # 71 - Monday, April 14, 2014
    1. 79 FR 20754 - Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy, Transition Provisions, Prompt Corrective Action, Standardized Approach for Risk-Weighted Assets, Market Discipline and Disclosure Requirements, Advanced Approaches Risk-Based Capital Rule, and Market Risk Capital Rule
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      Final rule.
      Effective date: April 14, 2014. Mandatory compliance date: January 1, 2014 for advanced approaches FDIC-supervised institutions; January 1, 2015 for all other FDIC-supervised institutions.
      12 CFR Parts 303, 308, 324, 327, 333, 337, 347, 349, 360, 362, 363, 364, 365, 390, and 391

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United States Code

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 303 after this date.

  • 2014-11-25; vol. 79 # 227 - Tuesday, November 25, 2014
    1. 79 FR 70121 - Filing Requirements and Processing Procedures for Changes in Control With respect to State Nonmember Banks and State Savings Associations
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      Notice of proposed rulemaking.
      Comments must be received by January 26, 2015.
      12 CFR Parts 303 and 391