FRB Regulations - Reg O, 23A, 23B, Reg F
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1. Reg O - "Affiliate" Any company of which a member bank is a subsidiary or any other subsidiary of
Definition that company
2. Reg O - "Compa- Any corporation, partnership, trust (business or otherwise), association, joint
ny" Definition venture, pool syndicate, sole proprietorship, unincorporated organization, or any
other form of business entity not specifically listed herein
What does the
definition not in- Does NOT include:
clude? (Hint: 2) - An insured depository institution
- A corporation the majority of the shares of which are owned by the US or by any
State
3. Reg O - "Control A person directly or indirectly, or acting through or in concert with one or more
of a company or persons:
bank" Definition - Owns, controls, or has power to vote 25% or more of any class of voting securities
of the company/bank;
- Controls in any manner the election of a majority of the directors of the compa-
ny/bank; OR
- Has the power to exercise a controlling influence over the mgmt or policies of
the company/bank
4. Reg O - "Control The person is:
of a company or - An executive officer or director of the company/bank AND
bank" - Directly or indirectly owns, controls, or has power to vote more than 10% of any
class of voting security of company/bank
A person is pre-
sumed to have OR
control, includng
the power to - The person directly or indirectly owns, controls, or has power to vote more than
exercise a con- 10% of any class of voting securities of company/bank AND
trolling influence - No other person owns, controls, or has power to vote a greater percentage of
over the mgmt or that class of voting securities
, FRB Regulations - Reg O, 23A, 23B, Reg F
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policies, of a com-
pany/bank if:
5. Reg O - "Control False.
of a company or
bank" An individual is NOT considered to have control, including the power to exercise
a controlling influence over the mgmt or policies, of a company or bank solely by
True or False: An virtue of the individual's position as an officer or director of the company/bank.
individual is con-
sidered to have
control, including
the power to
exercise a con-
trolling influence
over the mgmt
or policies, of a
company or bank
solely by virtue
of the individual's
position as an of-
ficer or direc-
tor of the compa-
ny/bank.
6. Reg O - "Control True.
of a company or
bank"
True or False:
A person may
rebut a pre-
sumption estab-
, FRB Regulations - Reg O, 23A, 23B, Reg F
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lished by para-
graph (C)(2) (con-
trol = exec ofcr +
>10% voting OR
>10% voting + no
one has greater
shares) by sub-
mitting to the ap-
propriate Federal
banking agency
written materials
that demonstrate
an absence of
control.
7. Reg O - "Director Any director of the company/bank, whether or not receiving compensation
of a company or
bank" Definition
8. Reg O - An adviso- - Is not elected by the shareholders of the company/bank;
ry director is not - Is not authorized to vote on matters before the BoD; AND
considered a di- - Provides solely general policy advice to the BoD
rector if the advi-
sory director:
9. Reg O - Exten- - The director/executive officer of the affiliate is excluded, by resolution of the BoD
sions of credit or bylaws of the bank, from participation in major policymaking functions of the
to a director/ex- bank, and the director does not actually participate in such functions (listed as
ecutive officer of excluded, or not included);
an affiliate of - The affiliate does not control the bank;
a bank are not - As determined annually, the assets of the affiliate do not constitute more than
subject to 215.4 10% of the consolidated assets of the company that:
Study online at https://quizlet.com/_gwssrt
1. Reg O - "Affiliate" Any company of which a member bank is a subsidiary or any other subsidiary of
Definition that company
2. Reg O - "Compa- Any corporation, partnership, trust (business or otherwise), association, joint
ny" Definition venture, pool syndicate, sole proprietorship, unincorporated organization, or any
other form of business entity not specifically listed herein
What does the
definition not in- Does NOT include:
clude? (Hint: 2) - An insured depository institution
- A corporation the majority of the shares of which are owned by the US or by any
State
3. Reg O - "Control A person directly or indirectly, or acting through or in concert with one or more
of a company or persons:
bank" Definition - Owns, controls, or has power to vote 25% or more of any class of voting securities
of the company/bank;
- Controls in any manner the election of a majority of the directors of the compa-
ny/bank; OR
- Has the power to exercise a controlling influence over the mgmt or policies of
the company/bank
4. Reg O - "Control The person is:
of a company or - An executive officer or director of the company/bank AND
bank" - Directly or indirectly owns, controls, or has power to vote more than 10% of any
class of voting security of company/bank
A person is pre-
sumed to have OR
control, includng
the power to - The person directly or indirectly owns, controls, or has power to vote more than
exercise a con- 10% of any class of voting securities of company/bank AND
trolling influence - No other person owns, controls, or has power to vote a greater percentage of
over the mgmt or that class of voting securities
, FRB Regulations - Reg O, 23A, 23B, Reg F
Study online at https://quizlet.com/_gwssrt
policies, of a com-
pany/bank if:
5. Reg O - "Control False.
of a company or
bank" An individual is NOT considered to have control, including the power to exercise
a controlling influence over the mgmt or policies, of a company or bank solely by
True or False: An virtue of the individual's position as an officer or director of the company/bank.
individual is con-
sidered to have
control, including
the power to
exercise a con-
trolling influence
over the mgmt
or policies, of a
company or bank
solely by virtue
of the individual's
position as an of-
ficer or direc-
tor of the compa-
ny/bank.
6. Reg O - "Control True.
of a company or
bank"
True or False:
A person may
rebut a pre-
sumption estab-
, FRB Regulations - Reg O, 23A, 23B, Reg F
Study online at https://quizlet.com/_gwssrt
lished by para-
graph (C)(2) (con-
trol = exec ofcr +
>10% voting OR
>10% voting + no
one has greater
shares) by sub-
mitting to the ap-
propriate Federal
banking agency
written materials
that demonstrate
an absence of
control.
7. Reg O - "Director Any director of the company/bank, whether or not receiving compensation
of a company or
bank" Definition
8. Reg O - An adviso- - Is not elected by the shareholders of the company/bank;
ry director is not - Is not authorized to vote on matters before the BoD; AND
considered a di- - Provides solely general policy advice to the BoD
rector if the advi-
sory director:
9. Reg O - Exten- - The director/executive officer of the affiliate is excluded, by resolution of the BoD
sions of credit or bylaws of the bank, from participation in major policymaking functions of the
to a director/ex- bank, and the director does not actually participate in such functions (listed as
ecutive officer of excluded, or not included);
an affiliate of - The affiliate does not control the bank;
a bank are not - As determined annually, the assets of the affiliate do not constitute more than
subject to 215.4 10% of the consolidated assets of the company that:
