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  4. SECTION 252.160
4-790.5

SUBPART P—COVERED IHC LONG-TERM DEBT REQUIREMENT, COVERED IHC TOTAL LOSS-ABSORBING CAPACITY REQUIREMENT AND BUFFER, AND RESTRICTIONS ON CORPORATE PRACTICES FOR INTERMEDIATE HOLDING COMPANIES OF GLOBAL SYSTEMICALLY IMPORTANT FOREIGN BANKING ORGANIZATIONS

SECTION 252.160—Applicability

(a) General applicability. This subpart applies to a U.S. intermediate holding company that is required to be established pursuant to section 252.153 and is controlled by a global systemically important foreign banking organization (covered IHC).
(b) Initial applicability. A covered IHC is subject to the requirements of sections 252.162, 252.163, 252.165, 252.166, and 252.167 beginning on the later of:
(1) January 1, 2019; and
(2) 1,095 days (three years) after the later of the date on which:
(i) The U.S. non-branch assets of the global systemically important foreign banking organization that controls the Covered IHC equaled or exceeded $50 billion; and
(ii) The foreign banking organization that controls the Covered IHC became a global systemically important foreign banking organization.
(c) Applicability of section 252.164. Section 252.164 applies to a global systemically important foreign banking organization with U.S. non-branch assets that equal or exceed $50 billion.
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