§223.43. What are the standards under which the Board may grant additional exemptions from the requirements of section 23A?
12 C.F.R. § 223.43
The standards. The Board may, at its discretion, by regulation or order, exempt transactions or relationships from the requirements of section 23A and subparts B, C, and D of this part if it finds such exemptions to be in the public interest and consistent with the purposes of section 23A.
Procedure. A member bank may request an exemption from the requirements of section 23A and subparts B, C, and D of this part by submitting a written request to the General Counsel of the Board. Such a request must:
Describe in detail the transaction or relationship for which the member bank seeks exemption;
Explain why the Board should exempt the transaction or relationship; and
Explain how the exemption would be in the public interest and consistent with the purposes of section 23A.
Notes, amendments, and revision history
Authority
Authority: 12 U.S.C. 371c(b)(1)(E), (b)(2)(A), and (f), 371c-1(e), 1828(j), 1468(a), and section 312(b)(2)(A) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 5412).
Source
Source: 67 FR 76604, Dec. 12, 2002, unless otherwise noted.