(a) In general. A savings and loan holding company with an effective
election to be treated as a financial holding company is subject to
the same requirements applicable to a financial holding company, under
sections 4(l) and 4(m) of the Bank Holding Company Act and section
804(c) of the Community Reinvestment Act of 1977 (12 U.S.C. 2903(c))
as if the savings and loan holding company was a bank holding company.
(b) Consequences of failing
to continue to meet applicable capital and management requirements. A savings and loan holding company with an effective election to
be treated as a financial holding company that fails to meet applicable
capital and management requirements at section 238.63 is subject to
the notice, remediation agreement, divestiture, and any other requirements
described in section 225.83 of this chapter.
(c) Consequences of failing to continue to maintain
a satisfactory or better rating under the Community Reinvestment Act
at all insured depository institution subsidiaries. A savings
and loan holding company with an effective election to be treated
as a financial holding company that fails to maintain a satisfactory
or better rating under the Community Reinvestment Act at all insured
deposit institution subsidiaries is subject to the activities limitations
and any other requirements described in section 225.84 of this chapter.
(d) Notice and approval
requirements for conducting financial holding company activities;
permissible activities. A savings and loan holding company with
an effective election to be treated as a financial holding company
may conduct the activities listed in section 225.86 of this chapter
subject to the notice, approval, and any other requirements described
in sections 225.85 through 225.89 of this chapter.
