Anti-evasion provision.

CFR · 2024-01-01 · US · Title 12

(a) (1) Material financial distress related to, or the nature, scope, size, scale, concentration, interconnectedness, or mix of, the financial activities conducted directly or indirectly by a company incorporated or organized under the laws of the United States or any State or the financial activities in the United States of a company incorporated or organized in a country other than the United States would pose a threat to the financial stability of the United States, based on consideration of the factors in— (i) § 1310.11(a) if the company is incorporated or organized under the laws of the United States or any State; or (ii) § 1310.11(b) if the company is incorporated or organized in a country other than the United States; and (2) The company is organized or operates in such a manner as to evade the application of title I of the Dodd-Frank Act (12 U.S.C. 5311-5374) or this part. (b) (1) Be made by the Council and shall not be delegated by the Council; and (2) Require the vote of not fewer than two-thirds of the voting members of the Council then serving, including the affirmative vote of the Chairperson of the Council. (c) (1) Means activities that are financial in nature (as defined in section 4(k) of the Bank Holding Company Act of 1956); (2) Includes the ownership or control of one or more insured depository institutions; and (3) Does not include internal financial activities conducted for the company or any affiliate thereof, including (d)

official document · source cfr-2024 · id 12:§ 1310.12