Compliance.

CFR · 2024-01-01 · US · Title 12

(a) (2) A covered company must report its compliance to the Federal Reserve as of the end of the quarter, unless the Board determines and notifies that (3) In reporting its compliance, a covered company must calculate and include in its gross credit exposure to an issuer of eligible collateral or eligible guarantor the amounts of eligible collateral, eligible guarantees, eligible equity derivatives, and eligible credit derivatives that were provided to the covered company in connection with credit transactions with exempt counterparties, valued in accordance with and as required by § 238.154(b) through (d) and § 238.154 (g). (b) (c) (2) A covered company may request a special temporary credit exposure limit exemption from the Board. The Board may grant approval for such exemption in cases where the Board determines that such credit transactions are necessary or appropriate to preserve the safety and soundness of the covered company. In acting on a request for an exemption, the Board will consider the following: (i) A decrease in the covered company's capital stock and surplus; (ii) The merger of the covered company with another covered company; (iii) A merger of two counterparties; or (iv) An unforeseen and abrupt change in the status of a counterparty as a result of which the covered company's credit exposure to the counterparty becomes limited by the requirements of this section; or (v) Any other factor(s) the Board determines, in its discretion, is appropriate. (d)

official document · source cfr-2024 · id 12:§ 238.158