Authority, purpose and scope.

CFR · 2024-01-01 · US · Title 12

(a) (b) (c) (2) This part does not apply to loans or extensions of credit made to the bank's or savings association's: (i) Affiliates, as that term is defined in 12 U.S.C. 371c(b)(1) and (e), as implemented by 12 CFR 223.2(a) (Regulation W); (ii) Operating subsidiaries; (iii) Edge Act or Agreement Corporation subsidiaries; or (iv) Any other subsidiary consolidated with the bank or savings association under GAAP. (3) The lending limits in this part are separate and independent from the investment limits prescribed by 12 U.S.C. 24 (Seventh) or 12 U.S.C. 1464(c), as applicable, and 12 CFR Part 1 and 12 CFR 160.30, and a national bank or savings association may make loans or extensions of credit to one borrower up to the full amount permitted by this part and also hold eligible securities of the same obligor up to the full amount permitted under 12 U.S.C. 24 (Seventh) or 12 U.S.C. 1464(c), as applicable, and 12 CFR part 1 and 12 CFR 160.30. (4) Loans and extensions of credit to executive officers, directors and principal shareholders of national banks, savings associations, and their related interests are subject to limits prescribed by 12 U.S.C. 375a and 375b in addition to the lending limits established by 12 U.S.C. 84 or 12 U.S.C. 1464(u) as applicable, and this part. (5) In addition to the foregoing, loans and extensions of credit must be consistent with safe and sound banking practices. (d)

official document · source cfr-2024 · id 12:§ 32.1