Risk-management and risk-committee requirements for foreign banking organizations with total consolidated assets of $100 billion or more but combined U.S. assets of less than $100 billion.

CFR · 2024-01-01 · US · Title 12

(a) (i) Oversees the risk-management policies of the combined U.S. operations of the foreign banking organization; and (ii) Includes at least one member having experience in identifying, assessing, and managing risk exposures of large, complex firms. (2) (b) (ii) (A) Policies and procedures establishing risk-management governance, risk-management procedures, and risk-control infrastructure for the combined U.S. operations of the foreign banking organization; and (B) Processes and systems for implementing and monitoring compliance with such policies and procedures, including: ( ( ( ( (iii) (B) A foreign banking organization that conducts its operations through U.S. branches or U.S. agencies (in addition to through its U.S. intermediate holding company, if any) may maintain its U.S. risk committee either: ( ( (iv) (v) (A) Include at least one member having experience in identifying, assessing, and managing risk exposures of large, complex financial firms; and (B) Have at least one member who: ( ( (2) [Reserved] (c) (2) (A) The measurement, aggregation, and monitoring of risks undertaken by the combined U.S. operations; (B) The implementation of and ongoing compliance with the policies and procedures for the foreign banking organization's combined U.S. operations set forth in paragraph (b)(1)(ii)(A) of this section and the development and implementation of processes and systems set forth in paragraph (b)(1)(ii)(B) of this section; and (C) The management of risks and risk control

official document · source cfr-2024 · id 12:§ 252.144