Savings accounts
—See also Savings deposits; Truth
in savings.
Automated teller machines, withdrawals
and transfers through—See Transaction accounts.
Automatic clearinghouse
debits and credits, subject to; as transaction accounts,
2-301.4Balance, minimum; disclosures—See Truth in savings.
Checking accounts
Automatic
deposits to or from savings account; transaction account,
2-302.2Combined savings/checking
statement, transaction accounts; reserve requirements,
2-345Transaction account, automatic deposits
to checking account from savings account to constitute,
2-302.2Club accounts
Disclosures—See Truth
in savings.
Reserves—See Reserve requirements.
Combined savings/checking account, transaction accounts;
reserve requirements,
2-345Deposit insurance requirements
Reporting
guidelines,
1-343Deposits
to checking accounts from, automatic; to constitute transaction account,
2-302.2Disclosures—See also Truth in savings.
Nontransferability legend on statement,
2-300.8Money market deposit
account, in; for tour operators,
2-342.14Tax and insurance premiums, for,
2-343.1Interest or dividends—See also Truth in savings.
Member banks, paid
by; advertisement,
1-176Mailed request for transfer of funds to third party, transaction
account,
2-301.7Money
market deposit accounts
Escrow deposits in for
tour operators,
2-342.14Facsimile machine, transfer instructions via,
2-342.18Messenger service, transfers to checking account
by,
2-342.12Totten trust, as vehicle for,
2-342Multiple, as transaction account,
2-286Natural persons, written
representation as to beneficiaries of account,
2-304.3``Nonassignable,'' in place of ``nontransferable,''
2-300.6``Nonnegotiable,''
in place of ``nontransferable,''
2-300.6Nonpersonal vs. personal—See Personal vs. nonpersonal, this heading.
Nontransferability legend,
2-301Passbook
accounts
Nontransferability legend on,
2-300.4Periodic statements
Disclosures on—See Truth in savings.
Nontransferability
legend on,
2-300.9Personal
vs. nonpersonal
Point-of-sale terminals, transfers
through; transaction account,
2-345.17Preauthorized order, transfer made by not to constitute
transaction account,
2-301.9Prestige cards for withdrawal not to qualify as transaction account,
2-302.1Reserve requirements—See this heading generally.
Retailer, cash disbursement by; on-site terminal authorizing,
2-342.16Statements
Combined savings and checking; transaction accounts, reserve
requirements,
2-345Periodic—See Periodic statements, this heading.
Telephone, transfers made by not to constitute
transaction account,
2-301.9Time deposits, nontransferability legend on passbook accounts,
2-300.4Totten trusts, use
of money market deposit account as vehicle for,
2-342Transaction accounts
Agent institutions, allowing transfers to,
2-345.12Automated teller machines, transfers and withdrawal
through—See Transaction
accounts.
Automatic clearinghouse debits
and credits, accounts subject to,
2-301.4Automatic deposits to checking account from,
2-302.2Club account, weekly
transfer of funds to,
2-301.5Federal Reserve Board, determination by,
2-212Mailed request to transfer funds to third
party,
2-301.7Multiple
savings accounts,
2-286Preauthorized order, transfers
made by,
2-301.9Prestige
cards for withdrawal,
2-302.1Statements combined with checking statements,
2-345Third parties, transfers through institutions
to,
2-345.11Traveler's convenience
for withdrawal,
2-302.1Withdrawal privileges,
2-302See also Transaction accounts.
Returned
check charged back against account,
2-342.21Traveler's convenience for withdrawal not to qualify
as transaction account,
2-302.1Trust accounts, personal or nonpersonal,
2-304.2Withdrawal
Prestige cards and traveler's convenience for, not to constitute
transaction account,
2-302.1Privileges not to constitute transaction account,
2-302Written representation to effect that
beneficiaries of account are natural persons,
2-304.3Securities
—See also Stock.
Appraisal of—See Valuation, this heading.
Arranging credit for purchase of—See Arranging credit.
Asset-backed securities
Dealer, exemption from definition for banks engaging
in transactions involving,
5-003.1Definition as to state member bank transactions,
3-263Insured depository institutions
Notification by state member banks of transactions
involving,
3-270Bank holding companies'
activities—See Bank holding
companies.
Banks
Activities and investments—See also specific
type of bank.
Issued by
Registration requirements—See Securities registration.
Blocks, controlling—See Tender offers.
Borrowing
and lending by brokers and dealers—See Credit by brokers and dealers.
Brokers—See Securities brokers and dealers.
Canadian
government obligations, national banks dealing in, underwriting,
or purchasing,
1-297Certificates,
physical movement of to end,
5-192Church plan, issued by; exempted security,
5-008Classes issued
Information
to be furnished for registration,
5-069Clearance of, credit for; credit by brokers and dealers,
5-436Clearing agencies—See Clearing agencies.
Contracts
Banks, exemption for liability,
3-3620Securities Exchange
Act, in violation of,
5-245Controlling block—See Tender offers.
Convertible
Bank holding companies acquiring—See Bank holding companies.
Credit for purchase of—See Credit by brokers and dealers.
Options regulations, not affected by,
5-059Counterfeit,
5-168 et seq.
Suspicious-activity report not required,
3-1711.32Credit for purchase
of—See Credit by brokers
and dealers; Securities credit by banks and persons other than brokers
or dealers.
Crimes—See Securities violations.
Current market value, valuation,
5-740Dealers—See Credit by brokers and dealers; Securities brokers and
dealers.
Debentures—See Debentures.
Debt securities
See also Debentures.
Arranging
credit for purchase of—See Arranging credit.
Bank holding companies
acquiring, underwriting, or dealing—See Bank holding companies.
Capital, as; of state member banks and bank holding companies,
3-1506.3Credit for—See Borrowers obtaining securities
credit; Credit by brokers and dealers; Securities credit by banks
and persons other than brokers or dealers.
Definition as to state member bank transactions,
3-264International banking; underwriting,
distributing, and dealing in connection with,
3-542Valuation of in bank and thrift examinations,
3-1501Definition
Member bank–affiliate relationships, as to,
3-1175.5Securities Exchange
Act, as to,
5-006Delivery
of by director, officer, or principal shareholder; time limits,
5-156See also Credit by brokers and dealers; Securities credit
by banks and persons other than brokers or dealers.
Depository institutions
Directors and officers
of issuer—See Issuer, this
heading.
Distribution, loans to finance
broker-dealer's underwriting; exemption,
5-799Equity—See Equity securities.
Exchange
offers—See Borrowers obtaining
securities credit; Credit by brokers and dealers; Securities credit
by banks and persons other than brokers or dealers.
Exchanging, financial holding company activities,
4-082.72Exempted—See Exempted securities.
Face-amount certificates,
5-263.1 et seq.
Federal agencies, rulemaking powers
concerning,
5-225Financial
holding company activities,
4-082.72Foreign—See Borrowers obtaining securities credit; Credit by brokers and dealers.
Foreign accounts, Federal Reserve Bank purchases
for,
7-084Foreign authorities
Financial regulatory authority, definition,
5-029.18Records obtained from,
public availability,
5-231Gains trading, definition,
3-1562Government National Mortgage Administration, guaranteed
by; mortgage-backed,
2-260.5Government securities—See also United States, at Obligations.
Canadian; national banks dealing in, underwriting,
and purchasing,
1-297Interbank liabilities,
as to,
3-013State member
bank transactions, as to,
3-264Exempt securities, as—See Exempted securities.
Foreign bank, sales by uninsured state-licensed branch or agency
of,
3-608Manipulative or
fraudulent device or practice, use of to induce purchase or sale
of,
5-119;
5-120Options on—See Options.
Records maintained by Federal
Reserve, description,
8-350Repurchase agreements
by state member banks, policy on,
3-1579State member banks
Recordkeeping
and confirmation,
3-262 et seq.
Holders of record prior to annual
meetings, information given to,
5-109See also Securities
credit by banks and persons other than brokers or dealers.
Information
Failure to file,
penalties for violations,
5-255Inside—See Securities violations, at Inside information.
Processor, definition,
5-012International Bank for Reconstruction and Development,
issues exempt from Securities Act of 1933,
1-491;
5-476Investigations,
5-218 et seq.
Investment
accounts, held in,
5-156Investment discretion, persons exercising
Regulatory agencies
for,
5-025Investment-grade,
as to international banking operations,
3-502Investment securities
Definition
as to currency and foreign transactions,
3-1700.41Risk management by financial institutions,
3-1562State member banks,
limitations on dealings in,
1-073Issuance, unlawful,
5-086Issuer
Audit committee, of; definition,
5-029.31Directors, officers, and
principal shareholders of
Investment accounts,
securities held in; transactions,
5-156Sales, conditions for,
5-156Suits to recover profits,
5-155Disclosures of changes in financial condition
or operations,
5-105.62Purchase of own security by or for,
5-097 et seq.
Reports by,
5-088 et seq.
See also Financial statements and reports.
Violations by—See Securities violations.
Joint venture,
capital contribution to,
5-819Lending
Banks, by; exceptions from
definition of ``broker,''
3-3602;
3-3603Brokers and dealers, by—See Credit by brokers and dealers, at Borrowing and lending securities.
Financial institutions, by; policy statement,
3-1579.5Loan value of—See Credit by brokers and dealers;
Securities credit by banks and persons other than brokers or dealers.
Suspicious-activity report not required,
3-1711.32Mails, certificates
not to move by,
5-192Member
banks—See Affiliate–member
bank relations; Member banks; State member banks.
Military installations, rules governing sales on,
5-127.4Suspicious-activity report
not required,
3-1711.32Mortgage-backed securities
Appraisal requirements,
federally related transactions; exception,
4-053.6Bank-issued
Deposits, as; reserve requirements,
2-324.3Government National Mortgage Administration, guaranteed
by,
2-260.5Deposits, as; reserve requirements,
2-324.3Government National Mortgage Administration,
guaranteed by; as deposits,
2-260.5Servicers of securitized mortgages, loss mitigation,
3-1579.455Mortgage pass-through
certificates, when-issued,
5-744.1Mortgage-related
Definition as to
securities exchanges,
5-029.1Insured depository institutions, investment in by,
3-1562When-issued,
net settlement of offsetting transactions; cash account,
5-615.952Municipal
Brokers and dealers—See Securities brokers and dealers.
State member bank transactions, as to,
3-264Exempted securities, exempted security,
5-628.25Federal Reserve Board
regulatory authority, delegation of,
8-108.2Information to be provided by issuer,
5-153Investment portfolio,
definition,
5-020Municipal Securities
Rulemaking Board—See Municipal
Securities Rulemaking Board.
Records
maintained by Federal Reserve, description,
8-350Registered securities association rules,
5-131.1Repurchase agreements
involving, reserve requirements,
2-325.19National market system for securities, establishment
of,
5-067.1National market
system security
Designation, lack of notice,
5-760New securities
Prohibitions on transactions in,
5-067Reorganization and recapitalization, margin
status,
5-683.1Nondeposit
investment products, retail sale of by depository institutions,
3-1579.51;
3-1579.52Nonequity, definition,
5-397Officers of issuer—See Issuer, this heading.
Options—See Options.
Owners—See Stockholders.
Price manipulation,
5-057 et seq.
Private offerings—See Private placement of securities.
Proxies—See Proxies.
Qualified
investor, definition,
5-029.2Receipt of as payment—See Credit by brokers and dealers, at Receipt
of funds or securities.
Registered
Associations—See Registered securities associations.
Purpose
credit for purchase of registered or unregistered securities,
5-808Withdrawal from margin
account on same day as other transaction,
5-516Registered warrants not affected by options
regulations,
5-059Registration—See Securities registration.
Regulatory agency, appropriate,
5-021 et seq.
Alternative reports,
5-092Federal agency directives, file to
be kept,
5-091Institutional
investments manager, by,
5-099;
5-102See also Financial statements and reports.
National security,
matters concerning,
5-091Notice filed in lieu of report,
5-095Obstructing person from filing,
5-217Persons acquiring more than 5 percent of security,
5-093 et seq.
State member banks, securities
of,
3-285 et seq.
Repurchase
agreements by state member banks, policy statement,
3-1579Rights not affected by options, regulations,
5-059Riskless-principal transactions,
closely related to banking,
4-049.2Rulemaking powers of federal agencies as to,
5-225Safeguarding
Bank activities, exemption from definition of ``broker,''
5-003Financial holding
company activities,
4-082.72National system for clearance and settlement to ensure,
5-713Self-regulatory organizations—See Self-regulatory organizations
(securities).
Settlement systems—See Wire transfers of funds.
Shipment of, cash account,
5-500Short sales—See Credit by brokers and dealers; Options.
Small business–related security
National banks, permissible
investment for,
1-297State
agencies' jurisdiction over,
5-242State member bank—See State member banks.
Stockholders—See Stockholders.
Suspicious-activity report not required,
3-1711.32Strips
Bank holding companies dealing in or holding,
4-655.5Risk-based capital adequacy guidelines,
4-058.913 et seq.
Interest-only,
credit-enhancing; capital adequacy,
3-2142;
3-2242Reserve requirements,
strip participations,
2-260.57State member banks, risk-based capital adequacy requirements,
3-2110Subordinated debentures—See Debentures.
Suspension of trading
Market manipulation,
5-641Market value, determination
during,
5-650Securities
and Exchange Commission, by,
5-085 et seq.
Tender offers—See Tender offers.
Transfer
agent—See Transfer agents.
Financial holding company activities,
4-082.72Treasury—See United States, at Obligations.
Underlying, definition as to credit by brokers and dealers,
5-402 Underwriting
Bank holding companies—See Bank holding companies.
Broker-dealers—See Securities brokers and dealers.
International banking—See International banking operations.
Unissued—See Credit by brokers and dealers.
United States securities—See also United States, at Obligations.
Unlisted trading privileges for security originally listed
on other exchange,
5-074 et seq.
Unregistered or registered, purpose credit for purchase
of,
5-808 Affiliate–member
bank transactions, collateral—See Affiliate–member bank relations.
Bank examination, valuation of securities in,
3-1501Current market value
Insured depository institution,
standards prescribed by regulation,
1-401.1Member bank affiliate, collateral on loans to,
3-1187Restricted securities,
5-960Suspended security, maintenance call,
5-650Violations—See Securities violations.
Voting
securities, definition as to bank holding companies,
4-010 When-distributed and when-issued—See Credit by brokers and dealers.
World Bank securities, exemption from Securities
Act of 1933,
5-476Securities and Exchange Commission
Accounting principles used in financial statements,
5-167Adverse action
Person affected may obtain review of rule,
5-234Prompt notice to be given,
5-230Annual report to Congress,
5-228Items to be included,
5-229Attorney general
Criminal-history records, providing access to SEC,
5-169Balance sheets of brokers
and dealers filed with,
5-166Bank holding company, requirement to provide assets to subsidiary
depository institution; authority,
4-088.1;
4-088.2Bank securities,
authority,
5-083Clearance
and settlement system for securities transactions, establishment,
5-174Clearing agencies
See also Clearing
agencies.
Registration,
5-175 et seq.
Denial, proceedings,
5-196Regulatory agencies, cooperation
with regarding,
5-190Rulemaking
powers regarding,
5-191Compliance orders, brokers' or dealers' violations,
5-122;
5-222Comptroller
of the Currency, delegation of authority over missing, lost, counterfeit,
or stolen securities; to,
5-171Consolidation of actions,
5-224Criminal proceedings for violations of regulations,
5-221 et seq.
Consolidation
of actions,
5-224Currency
and foreign transactions
Reports, availability
to,
3-1777Documents required
by, penalties for failure to file,
5-255Electronic fund transfers
Brokers and dealers' transactions, jurisdiction over,
6-358;
6-393Compliance
inquiries, mailing address for,
6-358Equity securities
Determination
of percentage of shares held by one person,
5-105Public disclosure of information, delay or
prevention of,
5-101Failure
to act not to be construed as approval of securities or transactions,
5-240Federal agencies
Records of available to Commission,
1-286Risk to broker-dealers, holding company
system; notification to Commission,
1-399.6Federal Deposit Insurance Corporation, delegation
of authority over missing, lost, counterfeit, or stolen securities;
to,
5-171Federal Reserve
Board, delegation of authority over missing, lost, counterfeit, or
stolen securities to,
5-171Financial responsibility rules, definition,
5-029Financial statements filed with—See Financial statements and reports.
Freedom of Information Act, administration
of,
5-229Hearing, adverse action as to securities registration,
5-084Income statements
of brokers and dealers filed with,
5-166Injunctions for violations of regulations,
5-221 et seq.
Institutional
investment manager, determination of necessary action regarding,
5-102Investigations by,
5-218 et seq.
Judicial review
of orders and rules,
5-232 et seq.
Mandamus, writs for violations of regulations,
5-222Money laundering, regulations
to combat—See Currency and foreign transactions, this heading.
Municipal securities
information to be provided by issuer,
5-153National Crime Information Center, use of to handle
information on missing, lost, counterfeit, or stolen securities,
5-170National market system
for securities, establishment of,
5-067.1Order, statement of written reasons to accompany,
5-230Owners of securities
to file statement with,
5-154Privacy, financial
Consumer financial information,
enforcement authority,
6-7382;
6-7383Records, public availability of,
5-231Right to Financial
Privacy Act, application to,
5-224.1 et seq.
Rate schedules for securities exchange members
Congress, information filed with,
5-043Court may set aside,
5-047Fairness determination,
5-042Proposed changes, oral presentation of arguments
and views on,
5-044 et seq.
Rulings to expedite, and minimize costs of, implementation,
5-045 Records
Federal agencies, of; available to Commission,
1-286Foreign securities authorities, records obtained
from,
5-231Investigations,
production required for,
5-219Penalty for violations,
5-220Required by,
5-159 et seq.
Large-trader
transactions, concerning,
5-105.1Public availability,
5-231Registration of national securities exchanges—See Securities exchanges.
Registration of securities associations—See Registered securities associations.
Regulation U, Federal Reserve Board; enforcement
powers as to,
5-944Regulatory
burden, duplication; avoidance,
5-161Reports by, annual report to Congress,
5-228;
5-229Acquirers of more than 5 percent of
class of equity security, by,
5-093 et seq.
Alternative reports,
5-092Financial—See Financial statements and reports.
Institutional investments manager, by,
5-099;
5-102Issuer of security,
by,
5-088 et seq.
Financial
reports—See Financial
statements and reports.
Large-trader transactions,
concerning,
5-105.1 et seq.
Regulatory agencies and organizations, other; by,
5-162 et seq.
Securities; missing, lost, counterfeit,
and stolen; regarding,
5-168 et seq.
Right to Financial Privacy Act, application to,
5-224.1 et seq.
Rules and regulations,
5-225 et seq.
Competition,
consideration of burden on,
5-226Freedom of information provisions,
5-227Public file of relevant statements and communications,
5-227Securities exchange, registration
Securities transactions,
enforcement authority,
5-680Self-regulatory organization—See also Self-regulatory organizations (securities).
Enforcement powers of Commission, limitation
on,
5-223State agencies,
cooperation with as to clearing agencies and transfer agents,
5-190State member bank securities;
rules, regulations, and forms,
3-285Suspension of trading in security,
5-085 et seq.
Tender offers
Percentage of
security owned, determination,
5-111Rules and regulations, prescribing,
5-111Transfer agents
Regulatory agencies, cooperation with regarding,
5-190Rulemaking powers regarding,
5-191Undue burden of regulatory
recordkeeping, avoidance,
5-161Unlisted trading privileges for security originally listed
on other exchanges,
5-074 et seq.
Violations of regulations by brokers and dealers
Findings published,
5-122Investigation and actions,
5-218 et seq.
Securities brokers and dealers
Accounts—See Credit by brokers and dealers.
Affiliate of member bank,
1-308Trust company affiliate issuing bonds,
3-414.9Arranging
credit—See Arranging
credit.
Associated with, person
Associations—See Registered securities associations.
Balance sheets filed with Securities and Exchange
Commission,
5-166Bank
holding companies—See Bank holding companies.
Contract validity, exemption from liability,
3-3620Custody accounts,
3-3585 et seq.
Identified banking product, definition,
3-3632Individual retirement
accounts,
3-3585 et seq.
Money market funds, transactions
in,
3-3562Networking exception,
3-3501 et seq.
Recordkeeping
requirements, authority to establish,
1-398.28Referral of high-net-worth or institutional
customer,
3-3505 et seq.
High-net-worth customer, definition,
3-3508Institutional customer, definition,
3-3508Referral fee, definition,
3-3508Regulation S (SEC),
transaction in securities issued pursuant to,
3-3600;
3-3601Special accounts,
3-3537 et seq.
Trust and fiduciary
accounts and activities,
3-3530 et seq.
Advertising restrictions,
3-3534Relationship compensation, definition,
3-3531Banks, exemption from definition of ``dealer,''
5-003.1Borrowing securities
by—See Credit by brokers
and dealers.
Charitable organizations,
exemption from definition for,
5-030.1Church plans, exemption from definition for,
5-030.1Clearing firms—See Clearing agencies.
Commodities
Introducing broker,
definition,
3-1700.2Money
laundering, programs to counter—See Currency and foreign transactions.
Compliance orders issued by Securities and Exchange Commission,
5-122;
5-222Credit by—See Credit by brokers and dealers.
Repeal of certain restrictions on,
5-473Currency and foreign transactions—See Currency and foreign transactions.
Customer identification programs, Bank Secrecy
Act compliance,
3-1722.8 et seq.
Definition
Bank Secrecy Act compliance,
as to,
3-1722.8Payment
system risk reduction, as to,
9-1501Delivery of
securities,
5-123See also Credit by brokers and
dealers.
Depository institutions, insured—See Insured depository institutions, this heading.
Discount brokerage
Bank holding companies engaged in,
4-655.1Trust departments' use of affiliate
banks' services,
3-447.11Electronic fund transfers, enforcement authority over,
6-358;
6-393Examination
Large traders, transactions of,
5-105.3Fees, referral; private actions under securities
statutes,
5-123.1Financial
institution, definition as; netting contracts,
9-1505;
9-1520Financial reports—See Financial statements and reports.
Fingerprinting of employees,
5-169Foreign, omnibus accounts,
5-737Government securities
brokers and dealers,
5-153.3 et seq.
Broker-dealer credit account, purchases of options in,
5-615.77Disciplinary proceedings, rules of practice and procedure—See Hearings, generally.
False or misleading statements,
5-123.1Foreign bank, uninsured
state-licensed branch or agency of,
3-608 Notices filed with
regulatory agency,
5-153.3Person associated with, definition,
5-029.14Regulation
T applicability,
5-392Regulatory
agencies appropriate to,
5-025.1Powers and responsibilities of,
5-153.4 et seq.
Securities Investor Protection Corporation, not member,
5-153.32Institutional
customers,
3-440Violations,
sanctions for,
5-153.37 et seq.
Income statements filed with Securities and Exchange
Commission,
5-166Inside
information, use of—See Securities violations.
Insured depository
institutions
Nonmember institutions, restrictions
on relations with,
1-398Foreign bank with insured branch,
1-398.1Selection of brokers and dealers by,
3-1562Interlocks with directors of member
banks—See Member bank–securities
dealer interlocks.
Leasing office space
from state member bank,
3-447.12Lending securities by—See Credit by brokers and dealers.
Market maker
Adherence to rules,
5-122Member bank
Affiliate of—See Affiliate
of member bank, this heading.
Affiliation with, history of prohibitions,
1-308 et seq.
Money laundering, programs
to prevent—See Currency
and foreign transactions.
Municipal securities
brokers and dealers
Association with
Person associated with, definition,
5-020Registered securities association denying or conditioning
membership on basis of,
5-135Clearing arrangements,
Federal Reserve Board approval of,
8-108.91Compliance with rules,
5-147Issuer not considered,
5-030Discipline,
5-144 et seq.
Reports of, Federal Reserve Board providing to Securities
and Exchange Commission,
8-108.92Waiver, authority to grant or deny requests for,
8-108.91Exemptions granted by
Securities and Exchange Commission,
5-141Federal Reserve Board authority as to,
8-108.91Investigation of reported violations,
5-148Issuer not considered,
5-030Qualification as, determination,
8-108.91Records and reports
Examination reports—See Examinations
of, this subheading.
Holding
company system; risk assessment,
5-172.1Application
filed with Securities and Exchange Commission,
5-140Cancellation, dealer no longer in business,
5-145Annual reports to Congress
by agencies,
5-228Initiation
of action,
5-150Records
filed with,
5-162Securities and Exchange
Commission, cooperation with,
5-149Risk assessment for holding company systems,
5-172.1 et seq.
Securities
and Exchange Commission Cooperation with regulatory agencies,
5-149Initiation of action,
5-150Violations of rules,
5-147Waiting
period, authority to grant or deny waiver of,
8-108.91Nonmember depository institutions, insured;
restriction on relations with,
1-398;
1-398.1Credit transactions,
agreements from nonmember institutions; authority to accept,
8-121.99Odd-lot dealers, registration,
5-065Payments for transactions,
5-123Person associated
with, definition,
5-010Proxies, giving or refraining from giving, for security in customer's
account,
5-108Records
Large-dealer transactions, of,
5-105.1Money laundering, programs to prevent—See Currency and foreign transactions.
Securities and Exchange Commission, for,
5-159State member banks,
3-262 et seq.
Registered securities
association, becoming members of,
5-127 et seq.
See also Registered
securities associations.
Definition of ``registered
broker or dealer,''
5-029.15Regulation,
5-118 et seq.
Reports
Credit, those extending;
reports to Federal Reserve Board,
5-172Financial—See Financial statements and reports.
Large-dealer
transactions, of,
5-105.1Money laundering, programs to prevent—See Currency and foreign transactions.
Securities and Exchange Commission, to,
5-159 et seq.
Repurchase agreements
with depository institutions, policy statement,
3-1579.1Settlements of transactions,
5-123Specialists
State member banks
as, limitations and conditions,
1-073State member bank securities transactions,
3-262 et seq.
Institutional customers,
3-440State regulatory
authority, bank holding company required to provide assets to subsidiary
depository institution,
4-088.1;
4-088.2 Transfer of securities,
5-123Underwriting, credit for,
5-765Unregistered, compliance with regulations,
5-125Violations by—See Securities violations.
Securities credit by banks and persons other than
brokers or dealers
, 5-052;
5-745 et seq.
See also Regulation U.
Acquisition
financing
Debt securities issued to finance corporate
takeover; indirectly secured,
5-805.1;
5-917.192Form U-1,
disclosure of confidential information,
5-900.19Indirectly secured
Merger
Bankruptcy
Debtor-in-possession
financing,
5-876.3Collateral, exchange,
5-875Advances,
temporary—See Temporary advances, this heading.
Affiliates,
definition,
5-746Aggregate
indebtedness and collateral, transfer of credit,
5-827American Depositary Receipts, margin stock,
5-919.14Annual reports—See Forms, at Form G-4.
Appreciation, valuation,
5-962Arbitrage transactions,
special-purpose loans to broker-dealers,
5-697;
5-764See also Arranging credit.
Bankruptcy
Debtor-in-possession
financing,
5-876.3Refinancing,
action for bank's own protection,
5-876.1Banks
Employees' savings plans, for,
5-796Special-purpose loans to—See Special-purpose loans to broker-dealers, this heading.
Capital
Contribution loans
Broker-dealers, to; special-purpose
loans,
5-766Subsidiary, to;
purpose credit,
5-942.12Working
Loans to replenish, used to purchase mutual
fund shares,
5-818Carrying
loan
Debentures, retirement,
5-797Cash out, loan to; purpose credit,
5-940Clearing agency
Deposit of securities with,
5-436Loan to, exempted transaction,
5-884.68 et seq.
COD transactions—See Delivery against payment, this
heading.
Collateral
Action for lender's own protection, exchange,
5-875Additional, acceptance of; transfer of credit,
5-958.1Aggregate, transfer
of credit,
5-827Exchange, action for lender's own protection,
5-875Guaranty not collateral,
loan value,
5-917.8Indirectly
secured credit
Mixed collateral, negative covenant,
5-923Trust as collateral,
interest in,
5-917.14Loan
value
Mixed—See Mixed
collateral, this heading.
Stock
Trust as collateral, interest in; indirectly
secured credit,
5-917.14Company-sponsored savings plans, indirectly secured credit,
5-902.1Consolidated renewal
loan, action for bank's protection,
5-876.2 Corporate borrower, negative covenants; indirectly
secured credit,
5-917.17Corporate takeovers—See Acquisition financing, this heading.
Employee stock
option plans,
5-928Holding
companies
Loans by to subsidiary,
5-910Liens, creation
precluded; multibank credit agreement,
5-911Security interest in pledged assets, bank's equal
to other creditor's,
5-917.21Stock assets, ``substantial part,''
5-915Subordinated loan agreements,
5-909Credit unions
Employee stock
option and purchase plans
Mixed membership, credit
unions with,
5-882.2National
Credit Union Administration Central Liquidity Facility,
5-880.51Crossover rights, indirectly secured
credit,
5-903Current market
value
Valuation, time of,
5-830Custodial accounts—See Trustees, banks as, this heading.
Customer
Public stock, acquisition of,
5-881.1Revolving-credit agreement,
5-881Debentures
Nonmargin stock, convertible into,
5-919.11Retirement, carrying loan,
5-797Subordinated; indirectly secured credit,
5-917.171Debt securities
Private placement
Debt securities, public
offering,
5-927Purpose
credit, as—See Purpose credit, this heading.
Deregistration
Form G-2—See Forms.
Distributions of securities, exempt loans,
5-799Dragnet provision, indirectly secured credit,
5-908Earmarking and segregating
loan proceeds,
5-935.1Emergency loans, special-purpose loans to broker-dealers,
5-765Employee savings plans,
banks as trustees for,
5-796Employee stock option and purchase plans—See Employee stock option and ownership plans.
English private commercial bank as foreign
bank,
5-888Equity securities, loans secured
by convertible into margin stocks,
5-942.64Examining authority, definition,
5-749Exchange offers, requirements,
5-758Clearing agency, loan
to,
5-884.68 et seq.
Distribution
of securities,
5-799Employee stock
option and purchase plans—See Employee stock option and ownership plans.
Foreign branch of U.S. bank extending credit,
5-884.67Net-redemption loan to investment company,
5-884.65Extending credit, requirements,
5-753Foreign banking institution
English private commercial bank as,
5-888Margin regulations, applicability,
5-885 et seq.
Regulation U,
applicability,
5-982.2Single-credit
rule, loans made through offices in and outside United States,
5-951.23Foreign subsidiaries,
employee stock option plans,
5-882.13Forms—See Forms, entries for Forms G-1, G-2, G-3, G-4,
and U-1.
Forward transactions
Withdrawals and substitutions,
5-964Futures commission
merchants, registration requirements,
5-942.67 Good faith
Holding company, by,
5-912Reliance, purpose statement,
5-823Guarantees
Margin stock securing
additional debt,
5-917.131Loan value, not collateral,
5-917.8Option, loan to exercise,
5-802Ordinary course of business,
5-902.1Unsecured bank loan,
guaranty by corporation,
5-802Holding company; indirectly secured loan to—See Indirectly secured credit, this heading.
Income tax payment, loan for as
purpose credit,
5-939Borrowers' assets
Corporate loans as negative covenants on,
5-917.17Commercial paper issued by parent
company; secured by subsidiary's stock,
5-917.181Company-sponsored savings plans,
5-902.1Corporate borrower,
general negative covenant,
5-917.17Covenants—See Covenants, this heading.
Negative covenants,
5-928Good faith nonreliance,
5-805Margin stock
securing additional debt,
5-917.131Holding companies
Good faith nonreliance,
5-912Insurance policies, single-premium variable life; funded
by mutual funds,
5-917.191;
5-919.111Investment companies, loans to,
5-917.12Liens, creation
precluded; multibank credit agreements,
5-911Nonmargin stock, restrictions on,
5-917.13Nonstock assets, restrictions on,
5-917.13Right
to seize stock,
5-901Subordinated loan agreement, covenant,
5-909Trust, interest in as
collateral,
5-917.14Twenty-five
percent or less margin stock,
5-917.23Insurance
Companies, credit extended
by; Form G-3 required,
5-897Holding companies, covenants; indirectly secured purpose credit,
5-942.12Premium funding
programs—See Insurance
premium funding programs.
Interest
charges
Balance, added to; single-credit rule,
5-917.7In the
ordinary course of business, definition,
5-749.1Intraday loans, special-purpose loans to broker-dealers,
5-763Investment companies
See also Mutual funds, this heading.
Open-end
purpose credit to,
5-814Temporary net-redemption loan to,
5-884.65Joint venture as extension of credit, capital contribution,
5-819 Lender, definition,
5-750Letters of credit,
purpose credit; reinsurance,
5-942.13Liens, creation precluded by multibank credit agreement;
indirectly secured credit,
5-911Line of credit, revolving; Form U-1,
5-900.13Liquidation plan, purpose credit,
5-942.17Living-expenses
loan, employee stock option plan; purpose credit,
5-817Loan value
Premium included in price paid
for stock,
5-917.81Maintaining credit,
5-753Interest charges, capitalization of,
5-917.92Margin stock
Additional taken as collateral on loans,
5-843American Depositary Receipts and ordinary
shares,
5-919.14Closed-end
investment company, preferred stock of as,
5-919.121Convertible bonds, receipts for partial interest
in,
5-919.16Loans secured by
Equity
securities convertible into margin stocks,
5-942.64Loan value, maximum,
5-775Nonpublic offering,
5-919Over-the-counter list—See Over-the-counter margin stock list.
Small business investment company
securities,
5-918Market maker, credit to,
5-765Market value, current
Valuation, time of,
5-830Mergers—See Acquisition financing, this
heading.
Mistakes in good faith,
5-760Mixed collateral
Negative covenants,
5-923Stock subscription agreement,
5-923.1Withdrawal and substitution,
5-963Multibank credit agreement,
creation of liens precluded; indirectly secured credit,
5-911Multiple-draw agreements,
requirements for purpose statements,
5-755Mutual funds
Collateral, shares
as,
5-924Loans to replenish working capital used to
purchase,
5-818National
Credit Union Administration Central Liquidity Facility,
5-880.51Negative covenants—See Covenants, this heading.
Net-redemption loan, temporary; to investment
company,
5-884.65Newly
issued stock, loan to purchase,
5-813Nonbank bank
Affiliate of, definition,
5-745Nonbank lenders,
5-840 et seq.
Nonmargin stocks
Loan value, maximum,
5-775Restrictions on, indirectly secured credit,
5-917.13Nonpublic offering,
margin stocks,
5-919Mixed collateral, registration
requirements,
5-942.66Nonstock assets, restrictions on; indirectly secured
credit,
5-917.13Open-end
investment company, purpose credit,
5-814Options, maximum loan value,
5-775Ordinary course of business, in the,
5-925Misappropriation of funds, promissory
note pending repayment,
5-925.3Partnership interest, loan secured by; Form U-1,
5-900.15Payment-against-delivery
transactions, temporary advances in; special-purpose loans to broker-dealers,
5-763Pension plan with
multiple advisors,
5-942.68Plan lender, definition,
5-854Portfolio of stock, indirectly secured credit,
5-902;
5-904Premium included in price paid for stock, loan value,
5-917.81Private placement
Public stock, acquisition of; date of commitment,
5-881.1Public offering of debt
securities,
5-927Purpose credit, as—See Purpose credit, at Debt
securities, this heading.
Acquisition financing—See Acquisition financing, this heading.
Capital contribution to subsidiary,
5-942.12Controlling block, for purchase of,
5-936Credit and debit
cards, use of to purchase securities,
5-942.14Employee stock option plan, living-expenses loan,
5-817Form U-1—See Forms.
Investment company,
open-end; to,
5-814Letters
of credit, reinsurance,
5-942.13Living-expenses loan, employee stock option plan,
5-817Merger—See Acquisition financing, this heading.
Mutual fund shares, for purchase of,
5-931Net-redemption loan,
temporary; to investment company,
5-884.65Newly issued stock, for purchase of,
5-813Nonmargin securities as collateral,
5-888.6Nonpurpose credit,
and; to same customer,
5-807;
5-928 et seq.
Open-end investment company,
to,
5-814Registered stock, for purchase of,
5-808Restricted securities, promissory
notes secured by shares purchased upon exercise of warrants,
5-942.141Securities exchange membership, loan to purchase,
5-936.1Tax, income; due upon
exercise of stock option; loan to pay,
5-939Unregistered stock, for purchase of,
5-808Purpose statements—See Forms, at Form G-3 and at Form U-1.
Receipt-versus-payment transactions—See Delivery against payment, this heading.
Refinancing
Bankruptcy, action
for bank's own protection,
5-876.1Transfer of credit,
5-958Refunding loans, short-term, series; maturity renewals
and extensions,
5-950.1Registered stock, loan for as purpose of credit,
5-808Change in borrower's assets, indirect security,
5-942.62Debt securities, purchasers of; private placement,
5-942.69Equity security convertible
into margin stock as collateral,
5-942.64Form G-1—See Forms.
National
Credit Union Administration Central Liquidity Facility,
5-880.51Nonpurpose loan, mixed collateral,
5-942.66Pension plan with
multiple advisors,
5-942.68Form
G-2—See Forms.
Reinsurance, purpose credit; letters of credit,
5-942.13Reports
Annual—See Forms, at Form G-4.
Federal Reserve Banks, to be filed
with,
5-856Restricted property,
indirectly secured credit,
5-917.11Restricted securities
Promissory
notes secured by shares purchased upon exercise of warrants; purpose
credit,
5-942.141Revolving credit
Dates
of commitment,
5-881Savings and loan associations, Form G-3,
5-888.7Securities in transit or transfer, loans for;
special-purpose loans to broker-dealers,
5-763Short-term refunding loans, series;
maturity renewals and extensions,
5-950.1Action for lender's protection,
5-876.11Employee stock ownership plan loan,
5-951.22Foreign bank, loans
by offices in and outside United States,
5-951.23Outstanding purpose loan, loan as addition
to,
5-825Splitting
of single purpose loan,
5-951.25Specialists, special-purpose loans to,
5-765Special-purpose loans to broker-dealers,
5-762 et seq.
Capital-contribution loans,
5-766Payment-against-delivery transactions, temporary advances
in,
5-763Regulations T
and U, consistent treatment,
5-621.13Securities in transit or transfer, loans for,
5-763Stock
Collateral, allocation,
5-807Convertible into margin
stock,
5-919.1Loan value—See Loan value, this heading.
Portfolio, indirectly secured credit,
5-902Required to be held by
other bank,
5-904Premium
included in price paid for, loan value,
5-917.81Registered, purpose credit for purchase,
5-808Retirement, purpose credit,
5-935Right to seize, indirectly
secured credit,
5-901Subscription
agreements, collateral,
5-923.1Unregistered, purpose credit for purchase,
5-808Subordinated debentures, indirectly
secured credit,
5-917.171Subordinated loan agreement, negative covenant; indirect security,
5-909Substitutions of collateral,
5-757Withdrawals and—See Withdrawals and substitutions, this heading.
Subterfuge, purpose credit,
5-933Tax, income; loans
to pay
Purpose credit,
as,
5-939Temporary advances
Net-redemption loan to
investment company,
5-884.65Payment-against-delivery transactions, in,
5-763Additional collateral, acceptance,
5-958.1Aggregate indebtedness
and collateral,
5-827Facts,
method of determining,
5-828Foreign and U.S. borrower, between; customers of same lender,
5-958.2Trustees, banks as,
5-795Custodial accounts, delivery
against payment,
5-942.2 et seq.
Employees' savings plans, for,
5-796Unregistered security, loan for purchase;
purpose credit,
5-808Unsecured
bank loan, guaranty of by corporation,
5-802Valuation
Assets of substantial
operating companies,
5-962.2Securities—See Securities.
Warrant to buy margin stock, considered margin
stock,
5-917.83Withdrawals
and substitutions,
5-757Renegotiation of purpose credit,
5-965Working capital
Replenishing,
used for mutual funds,
5-818Securities registration
, 5-068 et seq.
Adverse action, notice
of,
5-084Agricultural cooperative,
exemption,
5-079Alternative
reports,
5-092Amendment
of reports,
5-094Articles
of incorporation to be furnished,
5-070Balance sheets to be submitted,
5-069Banks
Cooperative, exemption,
5-079Issues, requirements,
5-083Bonus arrangements, information
to be furnished,
5-069Building and loan association, exemption,
5-079Bylaws, copies to be furnished,
5-070Classes of securities, information
to be furnished,
5-069Contracts
of business, information to be furnished,
5-069;
5-070 Cooperative bank,
exemption,
5-079Cooperative
organization, exemption,
5-079Denial, notice and hearing,
5-084Directors, information concerning to be furnished,
5-069Documents to be furnished,
5-070Institutional
investments manager,
5-100Life insurance policy, variable,
5-086Period prior to July 1, 1935,
5-073Rules and regulations, by,
5-082Variable-annuity contracts,
5-086Federal Reserve Board
not to state whether offering should be registered,
5-678Financial statements to be submitted—See Financial statements and reports.
Foreign issuer, exemption,
5-080Hearing, adverse action by Securities
and Exchange Commission,
5-084Holders of record reduced below 300 persons, termination of registration,
5-080Homestead organization,
exemption,
5-079Information
to be furnished,
5-069 et seq.
Additional and alternative,
5-071Supplementary and periodic,
5-124Institutional investments manager, exemption,
5-100Insurance company,
exemption,
5-079Investment
company, exemption,
5-079Issuance in contravention of rules and regulations,
5-086Life insurance policy, variable; exemption,
5-086Listed security,
exemption,
5-079Mutual
organization, exemption,
5-079Nature of business involved, information to be furnished,
5-069Not-for-profit organization,
exemption,
5-079Officers,
information concerning to be furnished,
5-069Profit and loss statements to be submitted,
5-059Profit-sharing arrangements, information
to be furnished,
5-069Registered
security, exemption,
5-079Registration statement, filing,
5-078Supplementary and periodic information,
5-124Reports to keep current,
5-088 et seq.
See also Financial statements and reports.
Revocation, notice and hearing,
5-084Savings and loan association, exemption,
5-079State member bank
securities, Federal Reserve Board authority as to,
8-108.9Statement, registration; filing,
5-078Supplementary and
periodic information,
5-124Suspension, notice and hearing,
5-084Time limits for filing statement,
5-078Trust indentures, copies to be furnished,
5-070Unlisted trading privileges,
security originally listed on other exchange,
5-074Approval by Securities and Exchange Commission,
5-075Hearing, notification
of,
5-077Registration with
exchange,
5-077Securities
and Exchange Commission, action by,
5-075;
5-076Suspension or termination
by Securities and Exchange Commission,
5-076State member banks
—See also Member banks; State banks.
Acceptances—See Acceptances.
Advertising
False or misleading, as unsound banking practice,
3-411Honorary directors
and advisory board members, publishing names of,
3-410Audits of—See Insured depository institutions.
Audits of—See Insured depository institutions.
See also Insured
depository institutions, specific topics.
Capital
category, reclassification as a result of,
8-094.9 et seq.
Deposit insurance, termination for,
1-355.1In excess of limit for national banks,
3-1563Bankrupt—See Conservator for, this heading.
Board of directors,
definition,
3-151Bonds,
mortgage; issuance by trust company affiliate,
3-414.9Branches
Closing of—See also Insured depository institutions.
Industrial loan companies, state law restricting,
3-447.3Money orders, selling
off premises,
3-423Service building
off premises,
3-421Televised,
off-site, remote-control customer facilities,
3-422Tellers' windows off bank premises,
3-418Time period for establishment,
extension authority,
8-121.3Foreign—See Foreign branches, this heading.
Interstate
Deposit production, use of for,
3-170 et seq.
Industrial loan companies, state law
restricting,
3-447.3Brokerage services, discount; use of by trust departments,
3-447.11Call reports—See Financial statements and reports.
Campaign contributions, unsound banking practice,
as,
3-447.1Capital—See Capital.
Capital stock of Federal Reserve Banks—See Capital stock of Reserve Banks.
Changes in business not involving risk, approval,
3-428Clearing agencies,
as
Conservator for uninsured bank operating multilateral
organization,
1-076.1Discipline
of participants
Notice requirements,
3-252 et seq.
Review of action,
application for,
3-261Stay of action, application for,
3-261Clubs, private; payment of fees and dues for employees,
3-1527Commercial paper,
recordkeeping and confirmation,
3-447.02Bank holding company
subsidiaries, by
4-178Conservator for, Federal Reserve Board authority to appoint
Uninsured bank operating or operating as multilateral clearing organization,
1-076.1Consolidation—See Bank mergers and consolidations.
Control, change in—See Control of depository institution or company, generally.
Conversion
from nonmember state bank, capital stock of Federal Reserve Banks,
3-489Credit card issuers
and merchant-service providers, investment in,
3-447.14Crimes involving, reporting,
3-374Customer identification program,
Bank Secrecy Act compliance,
3-378Deposit insurance—See Insured depository institutions, at State member banks.
Deposit production,
use of interstate branches primarily for; prohibited,
3-170 et seq.
Directors
Appointments, prior notice and agency disapproval,
1-399.5 et seq.;
4-055 et seq.
Diversion
of income to parent, unsound practice,
4-876In excess of net profits,
approval authority and criteria,
8-108.8;
8-121.94Employee Retirement Income
Security Act, violations of by; Board notification to Department
of Labor,
8-108.7Employment
discrimination,
3-1527Environmental
liability,
3-1520Equal employment
opportunity evaluation,
3-1527Examinations and inspections—See Bank examination.
Federal
Agricultural Mortgage Corporation stock, investment in,
3-447.13Federal Reserve System membership,
1-054 et seq.;
3-150 et seq.
See also this heading generally.
Admission procedures,
1-055Capital stock of Federal Reserve Banks,
3-483Stock subscribed
to be payable on call,
1-058Capital requirements—See Capital.
Capital stock requirements—See Capital stock of Federal Reserve
Banks.
Acceptance corporations not eligible,
3-436Building and loan
associations not eligible,
3-434Private bankers not eligible,
3-435State bank insuring corporations not eligible,
3-448Trust companies eligible,
3-437National bank
Conversion to,
1-051 et seq.
Conversion to or merger with state bank, status
as member,
1-055Subscription,
payment of,
3-484Cancellation of Federal
Reserve Bank stock,
3-463;
3-464Fees assessed by parent, excessive or unwarranted,
4-876Financial reporting—See Financial statements and reports.
Capital
deduction of equity investment in,
3-383Community Reinvestment Act rating,
3-385Debt rating of bank, required,
3-381.1Eligible debt, definition,
3-387Failure to continue
to meet requirements,
3-384.2Long-term issuer credit rating, definition,
3-387.1Failure to continue to meet requirements,
3-384 et seq.
Notice requirements,
3-386Permissible activities,
3-382Well capitalized and
well managed, definition,
3-387.2Floods, loans on property in—See Flood insurance.
Foreign
branches
See also International banking operations.
Establishment and maintenance,
3-164Examination, on-site,
3-720Securities transactions, exception for,
3-262Foreign subsidiaries,
operations,
3-705Forms—See Forms.
Institutional customers,
3-440Government-sponsored corporations, investment in
stock of,
3-447.13Hedging—See Hedging.
Income, diversion
of by parent,
4-876Individual
retirement accounts, acceptance of,
3-432Insurance—See Consumer protection; Insurance.
See also specific type of investment,
this heading.
Letters of credit—See Letters of credit.
Loans
Agricultural, loss amortization,
3-207 et seq.
Flood hazard
area, on property in—See Flood insurance.
Commercial, concentrations in; risk management,
3-1579.451Securities,
acting as agent or medium,
3-415Management fees resulting in undercapitalization prohibited,
3-340Definition of ``management
fee,''
3-328Mergers—See Bank mergers and consolidations.
Mortgages—See Mortgages.
Mutual funds
Investment in, majority interest,
3-415.3Officers
Appointments prior notice and agency disapproval,
1-399.5 et seq.;
4-055 et seq.
Senior executive,
definition,
4-055.1Operations subsidiaries
Partnerships,
limited; participation in,
3-447.14Proxy mailings, Federal Reserve Board authority as to,
8-108.91Public welfare, investments
to promote,
3-203 et seq.
Reserve Bank authority to approve,
8-121.97Real estate loans, standards,
3-360 et seq.;
3-407Receiver for, Federal Reserve Board authority to appoint
FDIC as,
1-104.2Reports—See Reports.
Repurchase agreements, policy on issuance,
3-1579Retirement trusts, self-employed;
acceptance of,
3-432Safe
banking practices—See Banking practices, this heading.
Securities,
dealing in; limitations and conditions,
1-073Securities investments
Equity
securities, purchase of to hedge bank-permissible equity derivative
transactions,
3-416.14Securities loans, acting
as medium or agent,
3-415Securities of subject to registration
Registration
statements, Federal Reserve Board authority as to,
8-108.9Unlisted trading in, Federal Reserve Board authority to issue notices
of applications,
8-108.9Institutional customers,
3-440Securities transactions effected by,
3-250 et seq.
Bonds, issuance
of by trust company affiliate,
3-414.9Confirmation of,
3-262 et seq.
Inside information, policy statement on use of,
3-1550Trading policies and procedures,
3-273Security measures—See Security devices and procedures.
Student
Loan Marketing Association stock, investment in,
3-447.13 Subordinated debt, issuance and
retirement; approval authority,
8-108.8;
8-121.97Transfer agents, acting
as,
3-251Troubled condition,
definition,
4-055.1Trust
business, engaging in; self-employed retirement trusts,
3-432Unsafe or unsound practices—See Banking practices, this heading.
