Applicability and general provisions.

CFR · 2024-01-01 · US · Title 12

(a) (2) For purposes of this subpart: (i) (A) A Category II foreign banking organization; (B) A Category III foreign banking organization; (C) A foreign banking organization with total consolidated assets that equal or exceed $250 billion; (D) A Category II U.S. intermediate holding company; and (E) A Category III U.S. intermediate holding company. (ii) (b) (2) A covered foreign entity is required to calculate its aggregate net credit exposure, gross credit exposure, and net credit exposure to a counterparty using the methods in this subpart. (c) (ii) Notwithstanding paragraph (c)(1)(i) of this section, a foreign banking organization that is a major foreign banking organization as of October 5, 2018, must comply with the requirements of this subpart, including but not limited to § 252.172, beginning on July 1, 2021, unless that time is extended by the Board in writing. (2) (ii) [Reserved] (iii) A U.S. intermediate holding company that becomes a covered foreign entity subject to this subpart after October 5, 2018, must comply with the requirements of this subpart beginning on the first day of the ninth calendar quarter after it becomes a covered foreign entity, unless that time is accelerated or extended by the Board in writing. (d) (A) The covered foreign entity is not a Category II foreign banking organization; (B) The covered foreign entity is not a Category III foreign banking organization; and (C) Its total consolidated assets fall below $250 billion for each of four cons

official document · source cfr-2024 · id 12:§ 252.170