12 USC 371b-2 - Interbank liabilities

U.S Code last checked for updates: May 02, 2024

§ 371b–2.

Interbank liabilities

(a)

Purpose

(b)

Aggregate limits on insured depository institutions’ exposure to other depository institutions

(c)

“Exposure” defined

(1)

In general

For purposes of subsection (b), an insured depository institution’s “exposure” to another depository institution means—

(A)

all extensions of credit to the other depository institution, regardless of name or description, including—

(i)

all deposits at the other depository institution;

(ii)

all purchases of securities or other assets from the other depository institution subject to an agreement to repurchase; and

(iii)

all guarantees, acceptances, or letters of credit (including endorsements or standby letters of credit) on behalf of the other depository institution;

(B)

all purchases of or investments in securities issued by the other depository institution;

(C)

all securities issued by the other depository institution accepted as collateral for an extension of credit to any person; and

(D)

all similar transactions that the Board by regulation determines to be exposure for purposes of this section.

(2)

Exemptions

(3)

Attribution rule

(d)

Insured depository institution

(e)

Rulemaking authority; enforcement

(Dec. 23, 1913, ch. 6, § 23, as added Pub. L. 102–242, title III, § 308(a), Dec. 19, 1991, 105 Stat. 2362.)

cite as: 12 USC 371b-2