12 U.S. Code § -

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(a) Holding companies
The appropriate Federal banking agency for a bank holding company or savings and loan holding company shall require the bank holding company or savings and loan holding company to serve as a source of financial strength for any subsidiary of the bank holding company or savings and loan holding company that is a depository institution.
(b) Other companies
If an insured depository institution is not the subsidiary of a bank holding company or savings and loan holding company, the appropriate Federal banking agency for the insured depository institution shall require any company that directly or indirectly controls the insured depository institution to serve as a source of financial strength for such institution.
(c) Reports
The appropriate Federal banking agency for an insured depository institution described in subsection (b) may, from time to time, require the company, or a company that directly or indirectly controls the insured depository institution, to submit a report, under oath, for the purposes of—
(1) assessing the ability of such company to comply with the requirement under subsection (b); and
(2) enforcing the compliance of such company with the requirement under subsection (b).
(d) Rules
Not later than 1 year after the transfer date, as defined in section 5411 of this title, the appropriate Federal banking agencies shall jointly issue final rules to carry out this section.
(e) Definition
In this section, the term “source of financial strength” means the ability of a company that directly or indirectly owns or controls an insured depository institution to provide financial assistance to such insured depository institution in the event of the financial distress of the insured depository institution.

Source

(Sept. 21, 1950, ch. 967, § 2[38A], as added Pub. L. 111–203, title VI, § 616(d),July 21, 2010, 124 Stat. 1616.)
Effective Date

Section effective on the transfer date, see section 616(e) ofPub. L. 111–203, set out as an Effective Date of 2010 Amendment note under section 1467a of this title.

This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.

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12 CFR - Banks and Banking

12 CFR Part 4 - ORGANIZATION AND FUNCTIONS, AVAILABILITY AND RELEASE OF INFORMATION, CONTRACTING OUTREACH PROGRAM, POST-EMPLOYMENT RESTRICTIONS FOR SENIOR EXAMINERS

12 CFR Part 6 - PROMPT CORRECTIVE ACTION

12 CFR Part 19 - RULES OF PRACTICE AND PROCEDURE

12 CFR Part 48 - RETAIL FOREIGN EXCHANGE TRANSACTIONS

12 CFR Part 163 - SAVINGS ASSOCIATIONS—OPERATIONS

12 CFR Part 165 - PROMPT CORRECTIVE ACTION

12 CFR Part 208 - MEMBERSHIP OF STATE BANKING INSTITUTIONS IN THE FEDERAL RESERVE SYSTEM (REGULATION H)

12 CFR Part 217 - [Reserved]

12 CFR Part 263 - RULES OF PRACTICE FOR HEARINGS

12 CFR Part 303 - FILING PROCEDURES

12 CFR Part 308 - RULES OF PRACTICE AND PROCEDURE

12 CFR Part 324 - CAPITAL ADEQUACY OF FDIC-SUPERVISED INSTITUTIONS

12 CFR Part 325 - CAPITAL MAINTENANCE

12 CFR Part 390 - REGULATIONS TRANSFERRED FROM THE OFFICE OF THRIFT SUPERVISION

12 CFR Part 563 - SAVINGS ASSOCIATIONS—OPERATIONS

12 CFR Part 565 - PROMPT CORRECTIVE ACTION

 

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