---
kind: "section"
citation: "12 C.F.R. § 238.66"
title: "12"
number: "238.66"
heading: "Ongoing requirements."
url: "https://uscodex.org/cfr/12/238.66"
---

# §238.66. Ongoing requirements.

- (a) **In general.** A savings and loan holding company with an effective election to be treated as a financial holding company is subject to the same requirements applicable to a financial holding company, under sections 4(l) and 4(m) of the Bank Holding Company Act and section 804(c) of the Community Reinvestment Act of 1977 ([12 U.S.C. 2903(c)](/usc/12/2903.md?p=c)) as if the savings and loan holding company was a bank holding company.
- (b) **Consequences of failing to continue to meet applicable capital and management requirements.** A savings and loan holding company with an effective election to be treated as a financial holding company that fails to meet applicable capital and management requirements at [§ 238.63](/cfr/12/238.63.md) is subject to the notice, remediation agreement, divestiture, and any other requirements described in [§ 225.83](/cfr/12/225.83.md) of this chapter.
- (c) **Consequences of failing to continue to maintain a satisfactory or better rating under the Community Reinvestment Act at all insured depository institution subsidiaries.** A savings and loan holding company with an effective election to be treated as a financial holding company that fails to maintain a satisfactory or better rating under the Community Reinvestment Act at all insured deposit institution subsidiaries is subject to the activities limitations and any other requirements described in [§ 225.84](/cfr/12/225.84.md) of this chapter.
- (d) **Notice and approval requirements for conducting financial holding company activities; permissible activities.** A savings and loan holding company with an effective election to be treated as a financial holding company may conduct the activities listed in [§ 225.86](/cfr/12/225.86.md) of this chapter subject to the notice, approval, and any other requirements described in [§§ 225.85 through 225.89](/cfr/12/225.85..225.89.md) of this chapter.

## Notes

### Authority

Authority: 5 U.S.C. 552, 559; 12 U.S.C. 1462, 1462a, 1463, 1464, 1467, 1467a, 1468, 5365; 1813, 1817, 1829e, 1831i, 1972, 15 U.S.C. 78 l.

### Source

Source: Reg. LL, 76 FR 56532, Sept. 13, 2011, unless otherwise noted.