---
kind: "section"
citation: "12 C.F.R. § 349.13"
title: "12"
number: "349.13"
heading: "Authority, purpose, and scope."
url: "https://uscodex.org/cfr/12/349.13"
---

# §349.13. Authority, purpose, and scope.

- (a) **Authority.** An FDIC-supervised insured depository institution that engages in retail forex transactions shall comply with the requirements of this part.
- (b) **Purpose.** This part establishes rules applicable to retail forex transactions engaged in by FDIC-supervised insured depository institutions and applies on or after the effective date.
- (c) **Scope.** Except as provided in [paragraph (d)](#d) of this section, this part applies to FDIC-supervised insured depository institutions.
- (d) **International applicability.** Sections [349.15](/cfr/12/349.15.md) and [349.17 through 349.28](/cfr/12/349.17..349.28.md) do not apply to retail foreign exchange transactions between a foreign branch of an FDIC-supervised IDI and a non-U.S. customer. With respect to those transactions, an FDIC-supervised IDI must comply with any disclosure, recordkeeping, capital, margin, reporting, business conduct, documentation, and other requirements of applicable foreign law.

## Notes

### Amendments

[76 FR 40789, July 12, 2011. Redesignated and amended at 80 FR 74912, Nov. 30, 2015]

### Authority

Authority: 12 U.S.C.1813(q), 1818, 1819, and 3108; 7 U.S.C. 2(c)(2)(E), 27 et seq.

### Source

Source: 76 FR 40789, July 12, 2011, unless otherwise noted.

### Amendments

[76 FR 40789, July 12, 2011. Redesignated and amended at 80 FR 74912, Nov. 30, 2015]