12 CFR 347.112
§ 347.112 Restrictions applicable to foreign organizations that act as futures commission merchants.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 347.112, § 347.112 Restrictions applicable to foreign organizations that act as futures commission merchants, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/46860
- Permanent ID
ys:prov:46860@1- SHA-256
cb91173ce79f02d3ad80f101786f271c66a3d6ab70be3f31669789465df50488
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(a) If a bank acquires or retains an equity interest in a foreign organization that acts as a futures commission merchant pursuant to § 347.105(b)(16), the foreign organization may not be a member of an exchange or clearing association that requires members to guarantee or otherwise contract to cover losses suffered by other members unless the:
(1) Foreign organization's liability does not exceed two percent of the bank's Tier 1 capital, or
(2) Bank has obtained the prior approval of the FDIC under § 347.120(d).
(b) [Reserved]
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.