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Can you summarize 12 CFR Part 201?
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM > EXTENSIONS OF CREDIT BY FEDERAL RESERVE BANKS (REGULATION A)
Short Summary
This legal document, part of the Code of Federal Regulations, specifically Regulation A, governs the extensions of credit by Federal Reserve Banks. It applies to depository institutions, including insured banks, mutual savings banks, savings banks, insured credit unions, members of the Federal Home Loan Bank, and savings associations. However, financial institutions that are not required to maintain reserves under 204.1(c)(4) of Regulation D are exempted from this regulation. The document provides definitions for various terms such as ‘appropriate federal banking agency,’ ‘critically undercapitalized insured depository institution,’ ‘depository institution,’ ’transaction account,’ ’nonpersonal time deposit,’ ‘undercapitalized insured depository institution,’ and ‘viable.’ It also outlines the criteria for determining the viability of a depository institution. The document does not specify any penalties for non-compliance or violation of its provisions.
Whom does it apply to?
Depository institutions, including insured banks, mutual savings banks, savings banks, insured credit unions, members of the Federal Home Loan Bank, and savings associations
What does it govern?
Extensions of credit by Federal Reserve Banks
What are exemptions?
Financial institutions that are not required to maintain reserves under 204.1(c)(4) of Regulation D
What are the Penalties?
No specific penalties mentioned in this document
Jurisdiction
U.S. Federal Government