(a) For purposes of this subpart,
a top-tier foreign banking organization that is or controls a covered
company (as defined at 12 CFR 243.2(f)) is a global systemically important
foreign banking organization if any of the following conditions is
met:
(1) The top-tier foreign banking
organization determines, pursuant to paragraph (c) of this section,
that the top-tier foreign banking organization has the characteristics
of a global systemically important banking organization under the
global methodology; or
(2) The Board, using information available to the Board, determines:
(i) That the top-tier foreign banking organization would be a global
systemically important banking organization under the global methodology;
(ii)
That the top-tier foreign banking organization, if it were subject
to the Board’s Regulation Q (part 217 of this chapter), would be identified
as a global systemically important BHC under section 217.402 of the
Board’s Regulation Q; or
(iii) That any U.S. intermediate holding company controlled by the
top-tier foreign banking organization, if the U.S. intermediate holding
company is or were subject to section 217.402 of the Board’s Regulation
Q, is or would be identified as a global systemically important BHC.
(b) Each top-tier foreign
banking organization that determines pursuant to paragraph (c) of
this section that it has the characteristics of a global systemically
important banking organization under the global methodology must notify
the Board of the determination by January 1 of each calendar year.
(c) A top-tier foreign banking organization that is
or controls a covered company (as defined at 12 CFR 243.2(f)) and
prepares or reports for any purpose the indicator amounts necessary
to determine whether the top-tier foreign banking organization is
a global systemically important banking organization under the global
methodology must use the data to determine whether the top-tier foreign
banking organization has the characteristics of a global systemically
important banking organization under the global methodology.
(d) Each top-tier foreign banking organization that controls
a U.S. intermediate holding company and that meets the requirements
of section 252.153(b)(5) and (6) also meets the requirements of paragraphs
(b) and (c) of this section.
