Wis. Admin. Code Department of Financial Institutions § DFI-Bkg 4.05 - Conditions and requirements

Current through March 28, 2022

(1) A financial institution may control a financial subsidiary or hold an interest in a financial subsidiary to engage in financial activities only if the financial subsidiary engages in financial activities or activities in which the financial institution is permitted to engage under other applicable law. The financial subsidiary may also engage in any other activity approved by rule of the division. However, the financial subsidiary may not engage in any activity as a principal that is not permissible for a financial subsidiary of a national bank as a principal unless the activity is authorized by the Federal Deposit Insurance Corporation pursuant to 12 USC 1831 a.
(2) Prior to acquiring control of, or an interest in a financial subsidiary, a financial institution is required to receive the prior approval of the division under s. DFI- Bkg 4.04.
(3) The financial institution and each insured depository institution affiliate of the financial institution must be well capitalized, after the capital deduction required under s. DFI- Bkg 4.06.
(4) The financial institution must meet any requirements of 12 USC 1831 w applicable to the financial institution.
(5) The division may establish additional limits or requirements on financial institutions and financial subsidiaries if the division determines that the limits or requirements are necessary for the protection of depositors, members, investors or the public.
(6) For any period during which a financial institution fails to meet these requirements, the division may by order limit or restrict the activities of the financial subsidiary or require the divestiture of the financial institution's interest in the financial subsidiary.


Wis. Admin. Code Department of Financial Institutions § DFI-Bkg 4.05
CR Register, October, 2000, No. 538, eff. 11-1-00.

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