(a) Scope.
(1) Applicability. Except as provided in paragraph
(b) of this section, this subpart applies to any covered company,
which includes:
(i)
Any U.S. bank holding company with average total consolidated assets
of $100 billion or more;
(ii)
Any U.S. intermediate holding company subject to this section pursuant
to section 252.153; and
(iii)
Any nonbank financial company supervised by the Board that is made
subject to this section pursuant to a rule or order of the Board.
(2) Ongoing applicability. A bank holding company
or U.S. intermediate holding company (including any successor company)
that is subject to any requirement in this subpart shall remain subject
to any such requirement unless and until its total consolidated assets
fall below $100 billion for each of four consecutive quarters.
(b) Transitional arrangements.
(1) A bank holding company
that becomes a covered company on or before September 30 of a calendar
year must comply with the requirements of this subpart beginning on
January 1 of the second calendar year after the bank holding company
becomes a covered company, unless that time is extended by the Board
in writing.
(2) A bank holding company
that becomes a covered company after September 30 of a calendar year
must comply with the requirements of this subpart beginning on January
1 of the third calendar year after the bank holding company becomes
a covered company, unless that time is extended by the Board in writing.
