12 CFR 347.112 - Restrictions applicable to foreign organizations that act as futures commission merchants.

§ 347.112 Restrictions applicable to foreign organizations that act as futures commission merchants.
(a) If a bank acquires or retains an equity interest in a foreign organization that acts as a futures commission merchant pursuant to§ 347.105(b)(16), the foreign organization may not be a member of an exchange or clearing association that requires members to guarantee or otherwise contract to cover losses suffered by other members unless the:
(1) Foreign organization's liability does not exceed two percent of the bank's Tier 1 capital, or
(2) Bank has obtained the prior approval of the FDIC under§ 347.120(d).
(b) [Reserved]

Title 12 published on 2015-01-01.

No entries appear in the Federal Register after this date, for 12 CFR Part 347.

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