Service corporations of insured State savings associations.

CFR · 2024-01-01 · US · Title 12

(a) (b) (2) (i) [Reserved] (ii) A service corporation of an insured state savings association may acquire and retain equity securities of a company engaged in the following activities, if the service corporation controls the company or the company is controlled by insured depository institutions, and the association continues to meet the applicable capital standards as prescribed by the appropriate Federal banking agency. The FDIC consents that such activity may be conducted by a service corporation of an insured state savings association without first obtaining the FDIC's consent. The fact that prior consent is not required by this subpart does not preclude the FDIC from taking any appropriate action with respect to the activities if the facts and circumstances warrant such action. (A) (B) (C) (iii) (iv) (3)-(4) [Reserved] (c) (d) (1) Be well-capitalized after deducting from its capital any investment in the service corporation, both equity and debt. (2) Use such regulatory capital amount for the purposes of the insured state savings association's assessment risk classification under part 327 of this chapter.

official document · source cfr-2024 · id 12:§ 362.12