---
kind: "unit"
title: "12"
title_heading: "Banks and Banking"
key: "chII/subchA/part221"
level: "part"
label: "Part 221"
heading: "Credit by Banks and Persons Other Than Brokers or Dealers for the Purpose of Purchasing or Carrying Margin Stock (regulation U)"
release: "ecfr-current"
date: "2026-08-27"
url: "https://uscodex.org/cfr/12/chII-subchA-part221"
sections_count: 32
---

# Part 221 — Credit by Banks and Persons Other Than Brokers or Dealers for the Purpose of Purchasing or Carrying Margin Stock (regulation U)

Title 12 C.F.R. — Banks and Banking › Chapter II — Federal Reserve System › Subchapter A — Board of Governors of the Federal Reserve System

## Sections

- [§221.1. Authority, purpose, and scope.](/cfr/12/221.1.md)
- [§221.2. Definitions.](/cfr/12/221.2.md)
- [§221.3. General requirements.](/cfr/12/221.3.md)
- [§221.4. Employee stock option, purchase, and ownership plans.](/cfr/12/221.4.md)
- [§221.5. Special purpose loans to brokers and dealers.](/cfr/12/221.5.md)
- [§221.6. Exempted transactions.](/cfr/12/221.6.md)
- [§221.7. Supplement: Maximum loan value of margin stock and other collateral.](/cfr/12/221.7.md)
- [§221.101. Determination and effect of purpose of loan.](/cfr/12/221.101.md)
- [§221.102. Application to committed credit where funds are disbursed thereafter.](/cfr/12/221.102.md)
- [§221.103. Loans to brokers or dealers.](/cfr/12/221.103.md)
- [§221.104. Federal credit unions.](/cfr/12/221.104.md)
- [§221.105. Arranging for extensions of credit to be made by a bank.](/cfr/12/221.105.md)
- [§221.106. Reliance in “good faith” on statement of purpose of loan.](/cfr/12/221.106.md)
- [§221.107. Arranging loan to purchase open-end investment company shares.](/cfr/12/221.107.md)
- [§221.108. Effect of registration of stock subsequent to making of loan.](/cfr/12/221.108.md)
- [§221.109. Loan to open-end investment company.](/cfr/12/221.109.md)
- [§221.110. Questions arising under this part.](/cfr/12/221.110.md)
- [§221.111. Contribution to joint venture as extension of credit when the contribution is disproportionate to the contributor's share in the venture's profits or losses.](/cfr/12/221.111.md)
- [§221.112. Loans by bank in capacity as trustee.](/cfr/12/221.112.md)
- [§221.113. Loan which is secured indirectly by stock.](/cfr/12/221.113.md)
- [§221.114. Bank loans to purchase stock of American Telephone and Telegraph Company under Employees' Stock Plan.](/cfr/12/221.114.md)
- [§221.115. Accepting a purpose statement through the mail without benefit of face-to-face interview.](/cfr/12/221.115.md)
- [§221.116. Bank loans to replenish working capital used to purchase mutual fund shares.](/cfr/12/221.116.md)
- [§221.117. When bank in “good faith” has not relied on stock as collateral.](/cfr/12/221.117.md)
- [§221.118. Bank arranging for extension of credit by corporation.](/cfr/12/221.118.md)
- [§221.119. Applicability of plan-lender provisions to financing of stock options and stock purchase rights qualified or restricted under Internal Revenue Code.](/cfr/12/221.119.md)
- [§221.120. Allocation of stock collateral to purpose and nonpurpose credits to same customer.](/cfr/12/221.120.md)
- [§221.121. Extension of credit in certain stock option and stock purchase plans.](/cfr/12/221.121.md)
- [§221.122. Applicability of margin requirements to credit in connection with Insurance Premium Funding Programs.](/cfr/12/221.122.md)
- [§221.123. Combined credit for exercising employee stock options and paying income taxes incurred as a result of such exercise.](/cfr/12/221.123.md)
- [§221.124. Purchase of debt securities to finance corporate takeovers.](/cfr/12/221.124.md)
- [§221.125. Credit to brokers and dealers.](/cfr/12/221.125.md)