(a) In general. This subpart
establishes single counterparty credit limits for a covered company.
For purposes of this subpart, covered company means: (i) A Category
II savings and loan holding company; or (ii) A Category III savings
and loan holding company.
(b) Credit
exposure limits.
(1) Section 238.152 establishes credit
exposure limits for a covered company.
(2) A covered company is required to calculate its aggregate net
credit exposure, gross credit exposure, and net credit exposure to
a counterparty using the methods in this subpart.
(c) Applicability of this subpart.
(1) A covered company
that becomes subject to this subpart must comply with the requirements
of this subpart beginning on the first day of the ninth calendar quarter
after it becomes a covered company, unless that time is accelerated
or extended by the Board in writing.
(d) Cessation of requirements. Any company
that becomes a covered company will remain subject to the requirements
of this subpart unless and until it is not a Category II savings and
loan holding company or a Category III savings and loan holding company.
