---
kind: "section"
citation: "12 C.F.R. § 215.1"
title: "12"
number: "215.1"
heading: "Authority, purpose, and scope."
url: "https://uscodex.org/cfr/12/215.1"
---

# §215.1. Authority, purpose, and scope.

- (a) **Authority.** This part is issued pursuant to sections 11(a), 22(g), and 22(h) of the Federal Reserve Act (12 U.S.C. [248(a)](/usc/12/248.md?p=a), [375a](/usc/12/375a.md), and [375b](/usc/12/375b.md)), [12 U.S.C. 1817(k)](/usc/12/1817.md?p=k), section 306 of the Federal Deposit Insurance Corporation Improvement Act of 1991 (Pub. L. 102-242, 105 Stat. 2236 (1991)), section 11 of the Home Owners' Loan Act ([12 U.S.C. 1468](/usc/12/1468.md)), and [section 312(b)(2)(A)](/cfr/12/312.md?p=b-2-A) of the Dodd-Frank Wall Street Reform and Consumer Protection Act ([12 U.S.C. 5412](/usc/12/5412.md)).
- (b) **Purpose and scope.**
  - (1) This part governs any extension of credit made by a member bank to an executive officer, director, or principal shareholder of the member bank, of any company of which the member bank is a subsidiary, and of any other subsidiary of that company.
  - (2) This part also applies to any extension of credit made by a member bank to a company controlled by such a person, or to a political or campaign committee that benefits or is controlled by such a person.
  - (3) This part also implements the reporting requirements of [12 U.S.C. 1817(k)](/usc/12/1817.md?p=k) concerning extensions of credit by a member bank to its executive officers or principal shareholders (or to the related interests of such persons).
  - (4) Extensions of credit made to an executive officer, director, or principal shareholder of a bank (or to a related interest of such person) by a correspondent bank also are subject to restrictions set forth in [12 U.S.C. 1972(2)](/usc/12/1972.md?p=2).

## Notes

### Amendments

[Reg. O, 71 FR 71474, Dec. 11, 2006, as amended at 76 FR 56530, Sept. 13, 2011]

### Authority

Authority: 12 U.S.C. 248(a), 375a(10), 375b(9) and (10), 1468, 1817(k), 5412; and Pub. L. 102-242, 105 Stat. 2236 (1991) (12 U.S.C. 1811 note).

### Source

Source: Reg. O, 59 FR 8837, Feb. 24, 1994, unless otherwise noted.

### Amendments

[Reg. O, 71 FR 71474, Dec. 11, 2006, as amended at 76 FR 56530, Sept. 13, 2011]