U.S. intermediate holding company requirement for foreign banking organizations with combined U.S. assets of less than $100 billion and U.S. non-branch assets of $50 billion or more.

CFR · 2024-01-01 · US · Title 12

(a) (2) (i) Organized under the laws of the United States, any one of the fifty states of the United States, or the District of Columbia; and (ii) Be governed by a board of directors or managers that is elected or appointed by the owners and that operates in an equivalent manner, and has equivalent rights, powers, privileges, duties, and responsibilities, to a board of directors of a company chartered as a corporation under the laws of the United States, any one of the fifty states of the United States, or the District of Columbia. (3) (i) A description of the U.S. intermediate holding company, including its name, location, corporate form, and organizational structure; (ii) A certification that the U.S. intermediate holding company meets the requirements of this section; and (iii) Any other information that the Board determines is appropriate. (b) (2) (3) (4) (i) The top-tier foreign banking organization determines, pursuant to paragraph (b)(6) of this section, that the top-tier foreign banking organization has the characteristics of a global systemically important banking organization under the global methodology; or (ii) The Board, using information available to the Board, determines: (A) That the top-tier foreign banking organization would be a global systemically important banking organization under the global methodology; (B) That the top-tier foreign banking organization, if it were subject to the Board's Regulation Q, would be identified as a global systemically import

official document · source cfr-2024 · id 12:§ 252.147