Authority, purpose, and scope.

CFR · 2024-01-01 · US · Title 12

(a) (2) Nothing in this part shall be read to limit the authority of the Board to take action under provisions of law other than 15 U.S.C. 78o-11, including action to address unsafe or unsound practices or conditions, or violations of law or regulation, under section 8 of the FDI Act. (b) (c) (i) A state member bank (as defined in 12 CFR 208.2(g)); or (ii) Any subsidiary of a state member bank. (2) Section 15G of the Exchange Act and the rules issued thereunder apply to any securitizer that is: (i) A bank holding company (as defined in 12 U.S.C. 1842); (ii) A foreign banking organization (as defined in 12 CFR 211.21(o)); (iii) An Edge or agreement corporation (as defined in 12 CFR 211.1(c)(2) and (3)); (iv) A nonbank financial company that the Financial Stability Oversight Council has determined under section 113 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) (12 U.S.C. 5323) shall be supervised by the Board and for which such determination is still in effect; or (v) A savings and loan holding company (as defined in 12 U.S.C. 1467a); and (vi) Any subsidiary of the foregoing. (3) Compliance with this part is required: (i) With respect to any securitization transaction collateralized by residential mortgages on December 24, 2015; and (ii) With respect to any other securitization transaction on December 24, 2016.

official document · source cfr-2024 · id 12:§ 244.1