§223.52. What transactions with affiliates or others must comply with section 23B's market terms requirement?
12 C.F.R. § 223.52
The market terms requirement of § 223.51 applies to the following transactions:
Any covered transaction with an affiliate, unless the transaction is exempt under paragraphs (a) through (c) of § 223.41 or paragraphs (a) through (e) or (h) through (j) of § 223.42;
The sale of a security or other asset to an affiliate, including an asset subject to an agreement to repurchase;
The payment of money or the furnishing of a service to an affiliate under contract, lease, or otherwise;
Any transaction in which an affiliate acts as an agent or broker or receives a fee for its services to the member bank or to any other person; and
Any transaction or series of transactions with a nonaffiliate, if an affiliate—
Has a financial interest in the nonaffiliate; or
Is a participant in the transaction or series of transactions.
For the purpose of this section, any transaction by a member bank with any person will be deemed to be a transaction with an affiliate of the member bank if any of the proceeds of the transaction are used for the benefit of, or transferred to, the affiliate.
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.