Exempt nonbanking activities and acquisitions.

CFR · 2024-01-01 · US · Title 12

(a) (1) Meets the requirements of paragraphs (c) (1), (2), and (6) of § 225.23; (2) Conducts the activity in compliance with all Board orders and regulations governing the activity; and (3) Within 10 business days after commencing the activity, provides written notice to the appropriate Reserve Bank describing the activity, identifying the company or companies engaged in the activity, and certifying that the activity will be conducted in accordance with the Board's orders and regulations and that the bank holding company meets the requirements of paragraphs (c) (1), (2), and (6) of § 225.23. (b) (1) The bank holding company or its subsidiaries in connection with their activities as authorized by law, including services that are necessary to fulfill commitments entered into by the subsidiaries with third parties, if the bank holding company or servicing company complies with the Board's published interpretations and does not act as principal in dealing with third parties; and (2) The internal operations of the bank holding company or its subsidiaries. Services for the internal operations of the bank holding company or its subsidiaries include, but are not limited to: (i) Accounting, auditing, and appraising; (ii) Advertising and public relations; (iii) Data processing and data transmission services, data bases, or facilities; (iv) Personnel services; (v) Courier services; (vi) Holding or operating property used wholly or substantially by a subsidiary in its operations or for i

official document · source cfr-2024 · id 12:§ 225.22