---
kind: "section"
citation: "12 C.F.R. § 24.1"
title: "12"
number: "24.1"
heading: "Authority, purpose, and OMB control number."
url: "https://uscodex.org/cfr/12/24.1"
---

# §24.1. Authority, purpose, and OMB control number.

- (a) **Authority.** The Office of the Comptroller of the Currency (OCC) issues this part pursuant to its authority under 12 U.S.C. [24(Eleventh)](/usc/12/24.md?p=Eleventh), [93a](/usc/12/93a.md), and [481](/usc/12/481.md).
- (b) **Purpose.** This part implements [12 U.S.C. 24 (Eleventh)](/usc/12/24.md?p=Eleventh). It is the OCC's policy to encourage a national bank to make investments described in [§ 24.3](/cfr/12/24.3.md), consistent with safety and soundness. This part provides the standards and procedures that apply to these investments.
- (c) **OMB control number.** The collection of information requirements contained in this part were approved by the Office of Management and Budget under OMB control number 1557-0194.
- (d) A national bank that makes loans or investments that are authorized under both [12 U.S.C. 24 (Eleventh)](/usc/12/24.md?p=Eleventh) and other provisions of the Federal banking laws may do so under such other provisions without regard to the provisions of [12 U.S.C. 24 (Eleventh)](/usc/12/24.md?p=Eleventh) or this part.
- (e) Investments made, or written commitments to make investments made, prior to October 13, 2006, pursuant to [12 U.S.C. 24 (Eleventh)](/usc/12/24.md?p=Eleventh) and this part, continue to be subject to the statutes and regulations in effect prior to the enactment of the Financial Services Regulatory Relief Act of 2006 (Pub. L. 109-351).

## Notes

### Amendments

[61 FR 49660, Sept. 23, 1996, as amended at 64 FR 70990, Dec. 20, 1999; 68 FR 48775, Aug. 15, 2003; 73 FR 22244, Apr. 24, 2008]

### Authority

Authority: 12 U.S.C. 24(Eleventh), 93a, 481, and 1818.

### Source

Source: 61 FR 49660, Sept. 23, 1996, unless otherwise noted.

### Amendments

[61 FR 49660, Sept. 23, 1996, as amended at 64 FR 70990, Dec. 20, 1999; 68 FR 48775, Aug. 15, 2003; 73 FR 22244, Apr. 24, 2008]