(a) Scope.
(1) Applicability. Except as provided in paragraphs (a)(3) and (b) of this section,
this subpart applies to any covered company, which includes:
(i) Any Category
II savings and loan holding company;
(ii) Any Category III savings and loan
holding company; and
(iii) Any savings and loan holding company with average total consolidated
assets of greater than $250 billion.
(2) Ongoing applicability. A savings and loan 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 the savings and loan holding
company:
(i) Is not a Category II savings and
loan holding company;
(ii) Is not a Category III savings and loan holding company; and
(iii) Has $250 billion
or less in total consolidated assets in each of four consecutive calendar
quarters.
(3) Insurance savings and loan holding
companies. Notwithstanding any other provision of this paragraph
(a), this subpart does not apply to a covered company that is subject
to part 217, subpart J, of this chapter.
(b) Transitional arrangements.
(1) A savings and loan holding
company that is subject to minimum capital requirements and 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 savings and loan holding company
becomes a covered company, unless that time is extended by the Board
in writing.
(2) A savings
and loan holding company that is subject to minimum capital requirements
and 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 savings and loan holding
company becomes a covered company, unless that time is extended by
the Board in writing.
