Required commitments and provisions of written agreement.

CFR · 2024-01-01 · US · Title 12

(a) The commitments required to be made in the written agreements referenced in § 354.3 are set forth in paragraphs (a)(1) through (8) of this section. In addition, with respect to an industrial bank subject to this part, the FDIC will condition each grant of deposit insurance, each issuance of a non-objection to a change in control, and each approval of a merger on compliance with paragraphs (a)(1) through (8) of this section by the parties to the written agreement. As required, each Covered Company must: (1) Submit to the FDIC an initial listing of all of the Covered Company's subsidiaries and update such list annually; (2) Consent to the examination by the FDIC of the Covered Company and each of its subsidiaries to permit the FDIC to assess compliance with the provisions of any written agreement, commitment, or condition imposed; the FDI Act; or any other Federal law (3) Submit to the FDIC an annual report describing the Covered Company's operations and activities, in the form and manner prescribed by the FDIC, and such other reports as may be requested by the FDIC to inform the FDIC as to the Covered Company's: (i) Financial condition; (ii) Systems for identifying, measuring, monitoring, and controlling financial and operational risks; (iii) Transactions with depository institution subsidiaries of the Covered Company; (iv) Systems for protecting the security, confidentiality, and integrity of consumer and nonpublic personal information; and (v) Compliance with applicable

official document · source cfr-2024 · id 12:§ 354.4