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Can you summarize NERS 8-915?
BANKS AND BANKING > Examinations; costs; reports in lieu of examination; director; powers.
Short Summary
This provision, found in the Nebraska Revised Statutes under the section on Banks and Banking, grants the director the authority to conduct examinations of bank holding companies with state-chartered bank subsidiaries and their subsidiaries. The cost of these examinations is to be assessed and paid for by the bank holding company. The director also has the discretion to accept reports of examination conducted by various regulatory entities, such as the Federal Reserve Board or the Comptroller of the Currency, in place of conducting their own examination. The director may provide reports of examination or other confidential information to these regulatory entities and may enter into cooperative agreements with them. Additionally, the director has the power to contract with these regulatory entities to conduct examinations on behalf of the department or for the regulatory entities themselves. The purpose of this provision is to ensure proper oversight and regulation of bank holding companies and their subsidiaries in Nebraska.
Whom does it apply to?
Bank holding companies with state-chartered bank subsidiaries, state-chartered bank subsidiaries, Federal Reserve Board, Comptroller of the Currency, Consumer Financial Protection Bureau, Federal Deposit Insurance Corporation, foreign state agencies
What does it govern?
Examinations, costs, reports in lieu of examination, director powers
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Nebraska