12 CFR 349.13 - Authority, purpose, and scope.

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§ 349.13 Authority, purpose, and scope.

(a)Authority. An FDIC-supervised insured depository institution that engages in retail forex transactions shall comply with the requirements of this part.

(b)Purpose. This part establishes rules applicable to retail forex transactions engaged in by FDIC-supervised insured depository institutions and applies on or after the effective date.

(c)Scope. Except as provided in paragraph (d) of this section, this part applies to FDIC-supervised insured depository institutions.

(d)International applicability. Sections 349.15 and 349.17 through 349.28 do not apply to retail foreign exchange transactions between a foreign branch of an FDIC-supervised IDI and a non-U.S. customer. With respect to those transactions, an FDIC-supervised IDI must comply with any disclosure, recordkeeping, capital, margin, reporting, business conduct, documentation, and other requirements of applicable foreign law.

[ 76 FR 40789, July 12, 2011. Redesignated and amended at 80 FR 74912, Nov. 30, 2015]

Title 12 published on 17-Jun-2017 04:33

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR Part 349 after this date.

  • 2016-08-02; vol. 81 # 148 - Tuesday, August 2, 2016
    1. 81 FR 50605 - Margin and Capital Requirements for Covered Swap Entities
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, FEDERAL RESERVE SYSTEM, FEDERAL DEPOSIT INSURANCE CORPORATION, FEDERAL HOUSING FINANCE AGENCY, FARM CREDIT ADMINISTRATION, Office of the Comptroller of the Currency
      Final rule.
      This final rule is effective October 1, 2016.
      12 CFR Part 45