12 CFR 223.43
§ 223.43 What are the standards under which the Board may grant additional exemptions from the requirements of section 23A?
United States · 12 CFR — Banks and Banking · Status: effective
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- Citation
- 12 CFR 223.43, § 223.43 What are the standards under which the Board may grant additional exemptions from the requirements of section 23A?, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/44626
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Full text
(a) The standards. The Board may, at its discretion, by regulation or order, exempt transactions or relationships from the requirements of section 23A and subparts B, C, and D of this part if it finds such exemptions to be in the public interest and consistent with the purposes of section 23A.
(b) Procedure. A member bank may request an exemption from the requirements of section 23A and subparts B, C, and D of this part by submitting a written request to the General Counsel of the Board. Such a request must:
(1) Describe in detail the transaction or relationship for which the member bank seeks exemption;
(2) Explain why the Board should exempt the transaction or relationship; and
(3) Explain how the exemption would be in the public interest and consistent with the purposes of section 23A.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.