(a) In general. A member bank and its affiliates may not publish any advertisement or
enter into any agreement stating or suggesting that the member bank will in
any way be responsible for the obligations of its affiliates.
(b) Guarantees, acceptances, letters of credit, and cross-affiliate
netting arrangements subject to section 23A. Paragraph (a) of this section does not prohibit a member bank
from—
(1) issuing a guarantee, acceptance, or letter of credit on behalf of an
affiliate, confirming a letter of credit issued by an affiliate, or entering
into a cross-affiliate netting arrangement, to the extent such transaction
satisfies the quantitative limits of sections 223.11 and 223.12 and the
collateral requirements of section 223.14, and is otherwise permitted under
this regulation; or
(2) making reference to such a guarantee, acceptance, letter of credit, or
cross-affiliate netting arrangement if otherwise required by
law.
