(a) In general.
(1) This subpart establishes single counterparty
credit limits for a covered company.
(2) For purposes of this subpart:
(i) Covered
company means:
(A) A global systemically important BHC;
(B) A Category II bank holding
company; and
(C) A Category
III bank holding company;
(ii) Major covered company means
any covered company that is a global systemically important BHC.
(b) Credit exposure limits.
(1) Section 252.72 establishes credit exposure
limits for a covered company and a major 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)(i) A company
that is a covered company as of October 5, 2018, must comply with
the requirements of this subpart, including but not limited to section
252.72, beginning on July 1, 2020, unless that time is extended by
the Board in writing. (ii) Notwithstanding paragraph (c)(1)(i) of
this section, a company that is a major covered company as of October
5, 2018, must comply with the requirements of this subpart, including
but not limited to section 252.72, beginning on January 1, 2020, unless
that time is extended by the Board in writing.
(2) A covered
company that becomes subject to this subpart after October 5, 2018
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.
(1) Any company that becomes a covered
company will remain subject to the requirements of this subpart unless
and until:
(i) The covered company is not a global
systemically important BHC;
(ii) The covered company is not a Category II bank holding company;
and
(iii) The covered
company is not a Category III bank holding company.
(2) A covered company
that has ceased to be a major covered company for purposes of section
252.72(b) is no longer subject to the requirements of section 252.72(b)
beginning on the first day of the calendar quarter following the reporting
date on which it ceased to be a major covered company; provided that
the covered company remains subject to the requirements of this subpart,
unless it ceases to be a covered company pursuant to paragraph (d)(1)
of this section.
