Authority, purposes, and scope.

CFR · 2024-01-01 · US · Title 12

(a) (1) To conduct examinations of State-chartered banks that are members of the Federal Reserve System (12 U.S.C. 325); (2) To conduct examinations of bank holding companies and their subsidiaries (12 U.S.C. 1844) and savings and loan holding companies and their subsidiaries (12 U.S.C. 1467a); and (3) To consider applications for: (i) Domestic branches by State member banks (12 U.S.C. 321); (ii) Mergers in which the resulting bank would be a State member bank (12 U.S.C. 1828(c)); (iii) Formations of, acquisitions of banks by, and mergers of, bank holding companies (12 U.S.C. 1842); (iv) The acquisition of savings associations by bank holding companies (12 U.S.C. 1843); and (v) Formations of, acquisitions of savings associations by, conversions of, and mergers of, savings and loan holding companies (12 U.S.C. 1467a). (b) (1) Establishing the framework and criteria by which the Board assesses a bank's record of helping to meet the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with the safe and sound operation of the bank; and (2) Providing that the Board takes that record into account in considering certain applications. (c) (2) (3)

official document · source cfr-2024 · id 12:§ 228.11