The Board's Regulatory Capital Framework for Depository Institution Holding Companies Organized as Non-Stock Companies.

CFR · 2024-01-01 · US · Title 12

(a) (2) Notwithstanding §§ 217.2 and 217.10, a bank holding company or covered savings and loan holding company that is organized as a legal entity other than a stock corporation and has issued capital instruments that do not qualify as common equity tier 1 capital under § 217.20 by virtue of the requirements set forth in this section may treat those capital instruments as common equity tier 1 capital until July 1, 2016. (b) (2) Holding companies are organized using a variety of legal structures, including corporate forms, LLCs, partnerships, and similar structures. (3) Common equity tier 1 capital is defined in § 217.20(b). To qualify as common equity tier 1 capital, capital instruments must satisfy a number of criteria. This section provides examples of the application of certain common equity tier 1 capital criteria that relate to the economic interests in the company represented by particular capital instruments. (c) (1) (ii) Provided that the other criteria in § 217.20(b) are met, the membership interests would qualify as common equity tier 1 capital. (2) (ii) Provided that the other criteria in § 217.20(b) are met, the general and limited partnership interests would qualify as common equity tier 1 capital. The fact of unlimited liability of the general partner is not relevant in the context of the eligibility criteria of common equity tier 1 capital instruments, provided that the general partner and limited partners share losses equally to the extent of the assets of th

official document · source cfr-2024 · id 12:§ 217.501