§348.3. Prohibitions. — Inbound Citations
12 C.F.R. § 348.3
Statutory Authority
Cited by 4 regulations in release Current.
Citations to 12 C.F.R. § 348.3 as a whole
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The prohibitions of § 348.3 do not apply in the case of any one or more of the following organizations or to a subsidiary thereof:
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(a) A management interlock that is prohibited by § 348.3 is permissible, if:(1) The interlock is not prohibited by § 348.3(c); and(2) The depository organizations (and their depository institution affiliates) hold, in the aggregate, no more than 20 percent of the deposits in each RMSA or community in which both depository organizations (or their depository institution affiliates) have offices. The amount of deposits shall be determined by reference to the most recent annual Summary of Deposits published by the FDIC for the RMSA or community.
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(a) The FDIC may by agency order exempt an interlock from the prohibitions in § 348.3 if the FDIC finds that the interlock would not result in a monopoly or substantial lessening of competition and would not present safety and soundness concerns.
Citations to §348.3(c)
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(1) The interlock is not prohibited by § 348.3(c); and