Fdic: Manual of Examination Policies



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RELATED ORGANIZATIONS
Section 4.3
DEFINITIONS AND AUTHORITIES
Sections A and B of the Federal Reserve Act (FR Act, as applied by the Federal banking agencies under various Federal banking statutes,
govern transactions between banks and affiliated business organizations. The
Gramm-Leach-Bliley Act (GLBA) amended many laws governing the affiliation of banks and other financial service providers. Among other laws, the GLBA amended the Banking Act of 1933, the Bank Holding Company Act of 1956, (BHC Act, the Interstate Banking and Branching Efficiency Act of 1994, the Investment Company Act of
1940, the Investment Advisers Act of 1940, the Securities Exchange Act of 1934, the International Banking Act of
1978, the FR Act, the Federal Deposit Insurance Act (FDI Act, and the Home Owners’
Loan Act. Section j) of the FDI Act extends the provisions of Sections A and B of the FR Act to state nonmember banks. Section A regulates transactions between a bank and its "affiliates as that term is specifically defined in Section A. Section B of the FR Act was enacted as part of the Competitive Equality Banking Act of 1987 to expand the range of restrictions on transactions with affiliates. Section b) of the FDI Act authorizes FDIC examiners in the course of examining insured banks to make such examinations of the affairs of any affiliate of any depository institution as maybe necessary to disclose fully --- (i) the relationship between such depository institution and any such affiliate and (ii) the effect of such relationship on the depository institution Affiliate is defined in Section w) of the FDI Act as having the same meaning as the definition of that term in Section k) of the BHC Act.
FDIC’s enforcement authority also extends to certain parents and affiliates which are not bank holding companies. Section u) of the FDI Act defines institution affiliated parties to include the controlling stockholder of an insured depository institution, or any shareholder or person who participates in the conduct of the affairs of an insured depository institution, or any independent contractor who participates in certain acts which cause significant adverse affect on an insured depository institution. This would include the parent companies of Industrial Loan Companies and other non- bank charters. Under Section b) of the FDI Act, the FDIC can issue Orders against institution affiliated parties. This section of the Manual discusses affiliates and subsidiaries, including the restrictions on transactions between affiliates and insured banks, exceptions to those restrictions, and the examination authority of the FDIC with respect to affiliates of nonmember insured banks. It also discusses the major provisions of the GLBA as affecting such transactions and the statutory implications for the FDIC examination process.


Gramm-leach-bliley act (glba)
Financial holding company
Dsc risk management manual of examination policies
Conditions precedent to new activities
Financial subsidiaries
Functional regulation
Related organizations (12-04)
Examination authority
Bank holding companies
Parent companies which are not
Ceba credit card banks
Industrial loan companies
Holding company effect
Financial considerations
Economies of scale
Miscellaneous considerations
The potential impact of holding companies
Prohibition of preferential loans
Chain banking groups
Affiliates as defined in section a of the
Parent holding company and its subsidiaries
Bank subsidiaries
Interlocking companies
Sponsored and advised affiliates
Additional considerations
Restrictions on "covered transactions" with
Section b of the federal reserve act
Safe deposit corporation
Corporation holding title to bank premises
Securities firm
Agricultural credit corporation (acc)
Special purpose finance subsidiaries
Corporations engaged in
Agreement corporation
Insurance subsidiaries
Examination of subsidiaries
Adequacy of capital
Examination and investigation



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