Federal Reserve Regulatory Service
S
Safe deposit boxes—See also Security devices and procedures.
Safe deposit business, nonbank interest exemption for bank holding companies, 4-032.1
Safes—See Security devices and procedures.
Salaries—See also Wages.
International Monetary Fund officers, 1-476
President setting standards for orderly economic growth, 1-546
Sallie Mae—See Student Loan Marketing Association.
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, 2-301.4
Balance, minimum; disclosures—See Truth in savings.
Checking accounts
Automatic deposits to or from savings account; transaction account, 2-302.2
Combined savings/checking statement, transaction accounts; reserve requirements, 2-345
Transaction account, automatic deposits to checking account from savings account to constitute, 2-302.2
Club accounts
Disclosures—See Truth in savings.
Reserves—See Reserve requirements.
Combined savings/checking account, transaction accounts; reserve requirements, 2-345
Deposit insurance requirements
Definition as deposit, 1-335.4
Reporting guidelines, 1-343
Deposits to checking accounts from, automatic; to constitute transaction account, 2-302.2
Disclosures—See also Truth in savings.
Nontransferability legend on statement, 2-300.8
Escrow deposits, 2-304.7
Money market deposit account, in; for tour operators, 2-342.14
Tax and insurance premiums, for, 2-343.1
Interest or dividends—See also Truth in savings.
Member banks, paid by; advertisement, 1-176
Mailed request for transfer of funds to third party, transaction account, 2-301.7
Money market deposit accounts
Escrow deposits in for tour operators, 2-342.14
Facsimile machine, transfer instructions via, 2-342.18
Messenger service, transfers to checking account by, 2-342.12
Overdraft coverage, 2-342.13
Preauthorized transfers, 2-342.1
Totten trust, as vehicle for, 2-342
Multiple, as transaction account, 2-286
Natural persons, written representation as to beneficiaries of account, 2-304.3
``Nonassignable,'' in place of ``nontransferable,'' 2-300.6
``Nonnegotiable,'' in place of ``nontransferable,'' 2-300.6
Nonpersonal vs. personal—See Personal vs. nonpersonal, this heading.
Nontransferability legend, 2-301
Disclosure statement, on, 2-300.8
Passbook accounts, on, 2-300.4
Periodic statement, on, 2-300.9
Substitute wording, 2-300.6
Overdraft protection, 2-342.19
NOW accounts, 2-345.21
Passbook accounts
Nontransferability legend on, 2-300.4
Personal, 2-302.9
Periodic statements
Disclosures on—See Truth in savings.
Nontransferability legend on, 2-300.9
Personal vs. nonpersonal
Escrow accounts, 2-304.7
Passbook deposits, 2-302.9
Trust accounts, 2-304.2
Point-of-sale terminals, transfers through; transaction account, 2-345.17
Preauthorized order, transfer made by not to constitute transaction account, 2-301.9
Prestige cards for withdrawal not to qualify as transaction account, 2-302.1
Reserve requirements—See this heading generally.
Retailer, cash disbursement by; on-site terminal authorizing, 2-342.16
Statements
Combined savings and checking; transaction accounts, reserve requirements, 2-345
Periodic—See Periodic statements, this heading.
Telephone, transfers made by not to constitute transaction account, 2-301.9
Time deposits, nontransferability legend on passbook accounts, 2-300.4
Totten trusts, use of money market deposit account as vehicle for, 2-342
Transaction accounts
Agent institutions, allowing transfers to, 2-345.12
Automated teller machines, transfers and withdrawal through—See Transaction accounts.
Automatic clearinghouse debits and credits, accounts subject to, 2-301.4
Automatic deposits to checking account from, 2-302.2
Club account, weekly transfer of funds to, 2-301.5
Federal Reserve Board, determination by, 2-212
Mailed request to transfer funds to third party, 2-301.7
Multiple savings accounts, 2-286
Preauthorized order, transfers made by, 2-301.9
Prestige cards for withdrawal, 2-302.1
Statements combined with checking statements, 2-345
Telephone transfers, 2-301.9
Third parties, transfers through institutions to, 2-345.11
Traveler's convenience for withdrawal, 2-302.1
Withdrawal privileges, 2-302
See also Transaction accounts.
Returned check charged back against account, 2-342.21
Traveler's convenience for withdrawal not to qualify as transaction account, 2-302.1
Trust accounts, personal or nonpersonal, 2-304.2
Withdrawal
Prestige cards and traveler's convenience for, not to constitute transaction account, 2-302.1
Privileges not to constitute transaction account, 2-302
Written representation to effect that beneficiaries of account are natural persons, 2-304.3
Savings and loan associations—See also Savings associations; Thrift institutions.
Accounts—See Savings accounts.
Banks, as
Minnesota savings banks as banks in regard to bank holding company acquisition, 4-362
Thrift institutions, exemptions from Bank Holding Company Act, 4-363.1
Building and loan associations—See this heading generally.
Depository institution, definition as, 2-155
Deposits—See Savings deposits.
Federal Reserve System membership ineligibility, 3-434
Grandfathered interlocks, transfer of rights; manager, 3-840
Holding company
Federal Reserve Bank approval authority, 8-121.99
Employment of convicted individual, 1-398.52
Transfer of rights by manager, grandfathered interlocks, 3-840.1
Interlocking directorates prohibited
Cease-and-desist orders issued, 1-409
Final status, time limit for, 1-411
Modification or setting aside, 1-412
Rehearing ordered for, 1-413
Complaints issued for violations, 1-408
Federal agencies, enforcement by, 1-407
Federal courts, jurisdiction, 1-410
Federal Reserve Board, enforcement by, 1-406
Review petitions, 1-408
Interlocks, management official—See Management official interlocks, this heading.
Lender's protection, action for; single-credit rule, 5-876.11
Management official interlocks
Grandfathered, manager transferring rights, 3-840
Prohibition, 3-820
Service corporation directors as management officials, 3-845.3
Manager, transfer of rights; grandfathered interlocks, 3-840
Minnesota, in; as banks in regard to bank holding companies, 4-362
Mutual savings banks—See Mutual savings banks.
Notes of, unlawful issuance and circulation, 1-462
Reserve requirements, 2-123
Rights, transfer by manager; grandfathered interlocks, 3-840
Robbery, penalties, 1-467 et seq.
Securities credit
Form G-3, by, 5-888.7
Lender's protection, action for; single-credit rule, 5-876.11
Securities registration, exemption, 5-079
Security devices and procedures—See Security devices and procedures.
Service corporation directors as management officials as to management official interlocks, 3-845.3
Single-credit rule, action for lender's protection, 5-876.11
Thrift institutions exemptions for bank holding companies, 4-363.1
Transfer of rights by managers, grandfathered interlocks, 3-840
Savings associations
See also Thrift institutions.
Acquisitions
Bank holding companies, by, 4-082.5
See also Bank acquisitions, generally.
Agent, acting as for affiliate bank, 1-398.26
Bank holding companies
Acquisition of savings association by, Board approval, 4-082.5
Activities closely related to banking, operating, 4-049
Insurance-agency activities of acquired insolvent savings association, 4-082.5
Branch names, 3-1503.6
Currency transactions—See Currency and foreign transactions, generally.
Definition
Deposit insurance, as to, 1-335.1
Deposit insurance
See also Deposit insurance, generally.
Capital requirements
Termination of insurance, 1-355.5
Transition rule, 1-400.82
Definition as to, 1-335.1
Derivatives activities, risk management, 3-1562
Examination by Federal Deposit Insurance Corporation, 1-384 et seq.
Failure, action to avert—See Bank acquisitions, at Emergency acquisitions.
Federal Reserve Bank credit, savings association as depository institution, 2-002
Federal Reserve Board, appropriate federal banking agency for, 1-336
Foreign transactions—See Currency and foreign transactions, generally.
Insurance-agency activities of acquired insolvent savings association, 4-082.5
Merger with bank subsidiary, approval authority, 8-106.2
Money laundering, prevention of—See Currency and foreign transactions, generally.
Securities
Invested in, risk management, 3-1562
Issued by, authority, 5-083
Savings banks—See also Savings and loan associations.
Definition, as to deposit insurance, 1-335.3
Derivatives activities, risk management, 3-1562
Insurance, savings bank life insurance activities of insured state banks and subsidiaries, 1-399.14
Mutual—See Mutual savings banks.
Securities investments, risk management, 3-1562
Search warrants
Securities—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, 5-003.1
Definition as to state member bank transactions, 3-263
Insured depository institutions
Investment in by, 3-1562
Notification by state member banks of transactions involving, 3-270
Auction-rate, 5-646.18
Bank holding companies' activities—See Bank holding companies.
Banks
Activities and investments—See also specific type of bank.
Issued by
Mortgage-backed, 2-260.5
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, 1-297
Certificates, physical movement of to end, 5-192
Church plan, issued by; exempted security, 5-008
Classes issued
Definition, 5-081
Information to be furnished for registration, 5-069
Clearance of, credit for; credit by brokers and dealers, 5-436
Clearing agencies—See Clearing agencies.
Commingling, 5-056
Contracts
Banks, exemption for liability, 3-3620
Securities Exchange Act, in violation of, 5-245
Waiver provisions, 5-244
Controlling 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, 5-059
Counterfeit, 5-168 et seq.
Suspicious-activity report not required, 3-1711.32
Credit 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, 5-740
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, 3-1506.3
Credit 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, 3-264
International banking; underwriting, distributing, and dealing in connection with, 3-542
Valuation of in bank and thrift examinations, 3-1501
Definition
Member bank–affiliate relationships, as to, 3-1175.5
Securities Exchange Act, as to, 5-006
Delivery of by director, officer, or principal shareholder; time limits, 5-156
See also Credit by brokers and dealers; Securities credit by banks and persons other than brokers or dealers.
Depository institutions
Activities of, 3-1562
DIAMONDS, 5-646.16
Directors and officers of issuer—See Issuer, this heading.
Distribution, loans to finance broker-dealer's underwriting; exemption, 5-799
Equity—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, 4-082.72
Exempted—See Exempted securities.
Face-amount certificates, 5-263.1 et seq.
Federal agencies, rulemaking powers concerning, 5-225
Financial holding company activities, 4-082.72
Foreign accounts, Federal Reserve Bank purchases for, 7-084
Foreign authorities
Financial regulatory authority, definition, 5-029.18
Records obtained from, public availability, 5-231
Gains trading, definition, 3-1562
Gold clauses, 1-416
Government National Mortgage Administration, guaranteed by; mortgage-backed, 2-260.5
Government securities—See also United States, at Obligations.
Canadian; national banks dealing in, underwriting, and purchasing, 1-297
Definition, 5-029.11
Interbank liabilities, as to, 3-013
State member bank transactions, as to, 3-264
Exempt securities, as—See Exempted securities.
Foreign bank, sales by uninsured state-licensed branch or agency of, 3-608
Options on—See Options.
Records maintained by Federal Reserve, description, 8-350
Repurchase agreements by state member banks, policy on, 3-1579
State member banks
Recordkeeping and confirmation, 3-262 et seq.
Holders of record prior to annual meetings, information given to, 5-109
Hypothecation, 5-056
Information
Failure to file, penalties for violations, 5-255
Inside—See Securities violations, at Inside information.
Processor, definition, 5-012
Exclusive, 5-013
International Bank for Reconstruction and Development, issues exempt from Securities Act of 1933, 1-491; 5-476
Investigations, 5-218 et seq.
Investment accounts, held in, 5-156
Investment discretion, persons exercising
Definition, 5-026
Regulatory agencies for, 5-025
Investment-grade, as to international banking operations, 3-502
Investment securities
Definition as to currency and foreign transactions, 3-1700.41
Risk management by financial institutions, 3-1562
State member banks, limitations on dealings in, 1-073
Issuance, unlawful, 5-086
Issuer
Audit committee, of; definition, 5-029.31
Definition, 5-005
Directors, officers, and principal shareholders of
Investment accounts, securities held in; transactions, 5-156
Sales, conditions for, 5-156
Suits to recover profits, 5-155
Disclosures of changes in financial condition or operations, 5-105.62
Loans by to executives of, 5-105.61
Purchase 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, 5-819
Lending
Brokers and dealers, by—See Credit by brokers and dealers, at Borrowing and lending securities.
Financial institutions, by; policy statement, 3-1579.5
Loan value of—See Credit by brokers and dealers; Securities credit by banks and persons other than brokers or dealers.
Lost, report, 5-168
Suspicious-activity report not required, 3-1711.32
Mails, certificates not to move by, 5-192
Military installations, rules governing sales on, 5-127.4
Missing, report, 5-168
Suspicious-activity report not required, 3-1711.32
Mortgage-backed securities
Appraisal requirements, federally related transactions; exception, 4-053.6
Bank-issued
Deposits, as; reserve requirements, 2-324.3
Government National Mortgage Administration, guaranteed by, 2-260.5
Definition, 5-029.1
Deposits, as; reserve requirements, 2-324.3
Government National Mortgage Administration, guaranteed by; as deposits, 2-260.5
Servicers of securitized mortgages, loss mitigation, 3-1579.455
Mortgage pass-through certificates, when-issued, 5-744.1
Mortgage-related
Definition as to securities exchanges, 5-029.1
Insured depository institutions, investment in by, 3-1562
When-issued, net settlement of offsetting transactions; cash account, 5-615.952
Municipal
Brokers and dealers—See Securities brokers and dealers.
Definition, 5-018
State member bank transactions, as to, 3-264
Exempted securities, exempted security, 5-628.25
Federal Reserve Board regulatory authority, delegation of, 8-108.2
Information to be provided by issuer, 5-153
Investment portfolio, definition, 5-020
Issuance, 5-153
Municipal Securities Rulemaking Board—See Municipal Securities Rulemaking Board.
Records maintained by Federal Reserve, description, 8-350
Registered securities association rules, 5-131.1
Repurchase agreements involving, reserve requirements, 2-325.19
National market system for securities, establishment of, 5-067.1
National market system security
Designation, lack of notice, 5-760
Registration, 5-679.1
New securities
Prohibitions on transactions in, 5-067
Reorganization and recapitalization, margin status, 5-683.1
Nonequity, definition, 5-397
Officers 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.
Publicly traded, definition, 5-105.51
Qualified investor, definition, 5-029.2
Receipt 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, 5-808
Withdrawal from margin account on same day as other transaction, 5-516
Registered warrants not affected by options regulations, 5-059
Registration—See Securities registration.
Regulatory agency, appropriate, 5-021 et seq.
Reports, 5-088 et seq.
Alternative reports, 5-092
Counterfeit, 5-168
Exemptions, 5-096
Federal agency directives, file to be kept, 5-091
Forms, authority to issue, 8-108.92
Issuer, by, 5-088
See also Financial statements and reports.
Lost, 5-168
National security, matters concerning, 5-091
Notice filed in lieu of report, 5-095
Obstructing person from filing, 5-217
Persons acquiring more than 5 percent of security, 5-093 et seq.
Partnerships, 5-094
Syndicates, 5-094
State member banks, securities of, 3-285 et seq.
Repurchase agreements by state member banks, policy statement, 3-1579
Rights not affected by options, regulations, 5-059
Riskless-principal transactions, closely related to banking, 4-049.2
Rulemaking powers of federal agencies as to, 5-225
Safeguarding
Bank activities, exemption from definition of ``broker,'' 5-003
Financial holding company activities, 4-082.72
National system for clearance and settlement to ensure, 5-713
Self-regulatory organizations—See Self-regulatory organizations (securities).
Settlement systems—See Wire transfers of funds.
Shipment of, cash account, 5-500
Small business–related security
Definition, 5-029.19
National banks, permissible investment for, 1-297
State agencies' jurisdiction over, 5-242
State member bank—See State member banks<.
Stockholders—See Stockholders.
Stolen, report, 5-168
Suspicious-activity report not required, 3-1711.32
Strips
Bank holding companies dealing in or holding, 4-655.5
Risk-based capital adequacy guidelines, 4-058.913 et seq.
Reserve requirements, strip participations, 2-260.57
State member banks, risk-based capital adequacy requirements, 3-2110
Subordinated debentures—See Debentures.
Suspension of trading
Market manipulation, 5-641
Market value, determination during, 5-650
Securities and Exchange Commission, by, 5-085 et seq.
Tender offers—See Tender offers.
Transfer agent—See Transfer agents.
Transfers, 5-192.1 et seq.
Financial holding company activities, 4-082.72
Treasury—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.
Definition, 5-055
Unlisted trading privileges for security originally listed on other exchange, 5-074 et seq.
Unregistered or registered, purpose credit for purchase of, 5-808
Valuation, 5-740 et seq.
Affiliate–member bank transactions, collateral—See Affiliate-member bank relations.
Appreciation, 5-962
Bank examination, valuation of securities in, 3-1501
Current market value
Definition, 5-393
Indirect security, 5-962.01
Insured depository institution, standards prescribed by regulation, 1-401.1
Member bank affiliate, collateral on loans to, 3-1187
Options, 5-740 et seq.
Restricted securities, 5-960
Suspended security, maintenance call, 5-650
Violations—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, 5-476
Securities Act of 1933, 5-258 et seq.
See also Exempted securities.
World Bank issues, 5-476
Exempted transactions, 5-259.1
Securities and Exchange Commission
Accounting principles used in financial statements, 5-167
Adverse action
Person affected may obtain review of rule, 5-234
Prompt notice to be given, 5-230
Annual report to Congress, 5-228
Items to be included, 5-229
Attorney general
Agreements with, 5-170
Criminal-history records, providing access to SEC, 5-169
Balance sheets of brokers and dealers filed with, 5-166
Bank holding company, requirement to provide assets to subsidiary depository institution; authority, 4-088.1; 4-088.2
Bank securities, authority, 5-083
Clearance and settlement system for securities transactions, establishment, 5-174
Clearing agencies
See also Clearing agencies.
Registration, 5-175 et seq.
Denial, proceedings, 5-196
Regulatory agencies, cooperation with regarding, 5-190
Rulemaking powers regarding, 5-191
Comptroller of the Currency, delegation of authority over missing, lost, counterfeit, or stolen securities; to, 5-171
Consolidation of actions, 5-224
Criminal proceedings for violations of regulations, 5-221 et seq.
Consolidation of actions, 5-224
Currency and foreign transactions
Enforcement authority, 3-1707
Reports, availability to, 3-1777
Documents required by, penalties for failure to file, 5-255
Electronic fund transfers
Compliance inquiries, mailing address for, 6-358
Equity securities
Determination of percentage of shares held by one person, 5-105
List provided by, 5-101
Public disclosure of information, delay or prevention of, 5-101
Failure to act not to be construed as approval of securities or transactions, 5-240
Federal agencies
Records of available to Commission, 1-286
Risk to broker-dealers, holding company system; notification to Commission, 1-399.6
Federal Deposit Insurance Corporation, delegation of authority over missing, lost, counterfeit, or stolen securities; to, 5-171
Federal Reserve Board, delegation of authority over missing, lost, counterfeit, or stolen securities to, 5-171
Financial responsibility rules, definition, 5-029
Financial statements filed with—See Financial statements and reports.
Freedom of Information Act, administration of, 5-229
Government securities dealers, role in regulating, 5-153.31; 5-153.37 et seq.; 5-153.44; 5-153.45; 5-202.1
Hearing, adverse action as to securities registration, 5-084
Income statements of brokers and dealers filed with, 5-166
Injunctions for violations of regulations, 5-221 et seq.
Institutional investment manager, determination of necessary action regarding, 5-102
Investigations by, 5-218 et seq.
Judicial review of orders and rules, 5-232 et seq.
Mandamus, writs for violations of regulations, 5-222
Money laundering, regulations to combat—See Currency and foreign transactions, this heading.
Municipal securities information to be provided by issuer, 5-153
National Crime Information Center, use of to handle information on missing, lost, counterfeit, or stolen securities, 5-170
National market system for securities, establishment of, 5-067.1
Order, statement of written reasons to accompany, 5-230
Owners of securities to file statement with, 5-154
Privacy, financial
Records, public availability of, 5-231
Right to Financial Privacy Act, application to, 5-224.1 et seq.
Exemption, 6-1786
Rate schedules for securities exchange members
Abrogation, 5-043
Congress, information filed with, 5-043
Court may set aside, 5-047
Fairness determination, 5-042
Proposed changes, oral presentation of arguments and views on, 5-044 et seq.
Rulings to expedite, and minimize costs of, implementation, 5-045
Records
Definition, 5-027
Federal agencies, of; available to Commission, 1-286
Foreign securities authorities, records obtained from, 5-231
Investigations, production required for, 5-219
Penalty for violations, 5-220
Required by, 5-159 et seq.
Examination of, 5-161
Large-trader transactions, concerning, 5-105.1
Public availability, 5-231
Registration of national securities exchanges—See Securities exchanges.
Registration of securities associations—See Registered securities associations.
Regulation U, Federal Reserve Board; enforcement powers as to, 5-944
Regulatory burden, duplication; avoidance, 5-161
Acquirers of more than 5 percent of class of equity security, by, 5-093 et seq.
Alternative reports, 5-092
Financial—See Financial statements and reports.
Form, 5-089
Issuer 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.
Exemption, 6-1786
Rules and regulations, 5-225 et seq.
Competition, consideration of burden on, 5-226
Freedom of information provisions, 5-227
Public file of relevant statements and communications, 5-227
Rationale, 5-226
Securities exchange, registration
Securities transactions, enforcement authority, 5-680
Self-regulatory organization—See also Self-regulatory organizations (securities).
Coordination with, 5-172.8
Enforcement powers of Commission, limitation on, 5-223
State agencies, cooperation with as to clearing agencies and transfer agents, 5-190
State member bank securities; rules, regulations, and forms, 3-285
Suspension of trading in security, 5-085 et seq.
Tender offers
Exemptions, 5-115
Filing with, 5-110
Percentage of security owned, determination, 5-111
Rules and regulations, prescribing, 5-111
Exemptions, 5-066
Transfer agents
Regulatory agencies, cooperation with regarding, 5-190
Rulemaking powers regarding, 5-191
Undue burden of regulatory recordkeeping, avoidance, 5-161
Unlisted trading privileges for security originally listed on other exchanges, 5-074 et seq.
Violations of regulations by brokers and dealers
Findings published, 5-122
Investigation and actions, 5-218 et seq.
Securities associations—See Registered securities associations.
Securities brokers and dealers
Accounts—See Credit by brokers and dealers.
Affiliate of member bank, 1-308
Definition as, 1-309
Trust company affiliate issuing bonds, 3-414.9
Arranging credit—See Arranging credit.
Associated with, person
Definition, 5-010
Associations—See Registered securities associations.
Balance sheets filed with Securities and Exchange Commission, 5-166
Bank holding companies—See Bank holding companies.
Contract validity, exemption from liability, 3-3620
Custody accounts, 3-3585 et seq.
De minimis exclusion, 3-3539
Definition, 3-3590
Identified banking product, definition, 3-3632
Individual retirement accounts, 3-3585 et seq.
Definition, 3-3590
Money market funds, transactions in, 3-3562
Networking exception, 3-3501 et seq.
Recordkeeping requirements, authority to establish, 1-398.28
Referral of high-net-worth or institutional customer, 3-3505 et seq.
High-net-worth customer, definition, 3-3508
Institutional customer, definition, 3-3508
Referral fee, definition, 3-3508
Special accounts, 3-3537 et seq.
Transferred accounts, 3-3539
Trust and fiduciary accounts and activities, 3-3530 et seq.
Advertising restrictions, 3-3534
Definition, 3-3532
Relationship compensation, definition, 3-3531
Banks, exemption from definition of ``dealer,'' 5-003.1
Borrowing securities by—See Credit by brokers and dealers.
Charitable organizations, exemption from definition for, 5-030.1
Church plans, exemption from definition for, 5-030.1
Clearing firms—See Clearing agencies.
Commodities
Introducing broker, definition, 3-1700.2
Money laundering, programs to counter—See Currency and foreign transactions.
Credit by—See Credit by brokers and dealers.
Repeal of certain restrictions on, 5-473
Currency and foreign transactions—See Currency and foreign transactions.
Customer identification programs, Bank Secrecy Act compliance, 3-1722.8 et seq.
Customers, as, 5-474.4
Definition
Bank Secrecy Act compliance, as to, 3-1722.8
Payment system risk reduction, as to, 9-1501
Delivery of securities, 5-123
See also Credit by brokers and dealers.
Depository institutions, insured—See Insured depository institutions, this heading.
Discount brokerage
Bank holding companies engaged in, 4-655.1
Trust departments' use of affiliate banks' services, 3-447.11
Examination
Coordination of, 5-172.8
Large traders, transactions of, 5-105.3
Fees, referral; private actions under securities statutes, 5-123.1
Financial reports—See Financial statements and reports.
Fingerprinting of employees, 5-169
Foreign, omnibus accounts, 5-737
Government securities brokers and dealers, 5-153.3 et seq.
Broker-dealer credit account, purchases of options in, 5-615.77
Disciplinary proceedings, rules of practice and procedure—See Hearings, generally.
False or misleading statements, 5-123.1
Foreign bank, uninsured state-licensed branch or agency of, 3-608
Notices filed with regulatory agency, 5-153.3
Person associated with, definition, 5-029.14
Records of, 5-153.43 et seq.
Exemption, 5-153.44
Regulation T applicability, 5-392
Regulatory agencies appropriate to, 5-025.1
Powers and responsibilities of, 5-153.4 et seq.
Risk assessment, activities of affiliates and associated persons, 1-399.6; 5-153.331 et seq.; 5-172.2
Securities Investor Protection Corporation, not member, 5-153.32
Institutional customers, 3-440
Violations, sanctions for, 5-153.37 et seq.
Hypothecation, 5-056
Income statements filed with Securities and Exchange Commission, 5-166
Inside information, use of—See Securities violations.
Insured depository institutions
Nonmember institutions, restrictions on relations with, 1-398
Foreign bank with insured branch, 1-398.1
Selection of brokers and dealers by, 3-1562
Interlocks with directors of member banks—See Member bank-securities dealer interlocks.
Leasing office space from state member bank, 3-447.12
Lending securities by—See Credit by brokers and dealers.
Market maker
Adherence to rules, 5-122
Credit to, 5-765
Definition, 5-027
Member 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
Barring, 5-146
Person associated with, definition, 5-020
Registered securities association denying or conditioning membership on basis of, 5-135
Bank holding companies as, 4-015.1
Classification, 5-143
Clearing arrangements, Federal Reserve Board approval of, 8-108.91
Compliance with rules, 5-147
Definition, 5-020
Issuer not considered, 5-030
Discipline, 5-144 et seq.
Examinations of, 5-151
Reports of, Federal Reserve Board providing to Securities and Exchange Commission, 8-108.92
Waiver, authority to grant or deny requests for, 8-108.91
Exemptions granted by Securities and Exchange Commission, 5-141
Federal Reserve Board authority as to, 8-108.91
Forms issuance, 8-108.92
Investigation of reported violations, 5-148
Issuer not considered, 5-030
Qualification as, determination, 8-108.91
Records and reports
Examination reports—See Examinations of, this subheading.
Holding company system; risk assessment, 5-172.1
Application filed with Securities and Exchange Commission, 5-140
Approval, 5-140
Cancellation, dealer no longer in business, 5-145
Denial, 5-140
Revocation, 5-144
Suspension, 5-145
Withdrawal, 5-145
Annual reports to Congress by agencies, 5-228
Initiation of action, 5-150
Records filed with, 5-162
Reports, 5-162
Securities and Exchange Commission, cooperation with, 5-149
Risk assessment for holding company systems, 5-172.1 et seq.
Securities and Exchange Commission Cooperation with regulatory agencies, 5-149
Initiation of action, 5-150
Suspension, 5-144
Violations of rules, 5-147
Investigation, 5-148
Waiting period, authority to grant or deny waiver of, 8-108.91
Credit transactions, agreements from nonmember institutions; authority to accept, 8-121.99
Odd-lot dealers, registration, 5-065
Payments for transactions, 5-123
Person associated with, definition, 5-010
Proxies, giving or refraining from giving, for security in customer's account, 5-108
Records
Large-dealer transactions, of, 5-105.1
Money laundering, programs to prevent—See Currency and foreign transactions.
Securities and Exchange Commission, for, 5-159
State member banks, 3-262 et seq.
Registered securities association, becoming members of, 5-127 et seq.
See also Registered securities associations.
Registration, 5-118
Definition of ``registered broker or dealer,'' 5-029.15
Exemptions, 5-118
Government securities dealers, 5-153.31
Regulation, 5-118 et seq.
Reports
Authority to make available, 8-108.92
Credit, those extending; reports to Federal Reserve Board, 5-172
Financial—See Financial statements and reports.
Large-dealer transactions, of, 5-105.1
Money 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, 3-1579.1
Risks to, from activities of affiliates and associated persons, 1-399.6; 5-153.331 et seq.; 5-172.1 et seq.
Settlements of transactions, 5-123
Specialists
Accounts, joint, 5-402
Registration, 5-065
State member banks as, limitations and conditions, 1-073
State member bank securities transactions, 3-262 et seq.
Institutional customers, 3-440
State regulatory authority, bank holding company required to provide assets to subsidiary depository institution, 4-088.1; 4-088.2
Transfer of securities, 5-123
Underwriting, credit for, 5-765
Unregistered, compliance with regulations, 5-125
Violations by—See Securities violations.
Securities credit—See Borrowers obtaining securities credit; Credit by brokers and dealers; Securities credit by banks and persons other than brokers or dealers.
Securities credit by banks and persons other than brokers or dealers, 5-052; 5-745 et seq.
See also Regulation U.
Acquisition financing
Foreign branch of U.S. bank, 5-884.67
Form U-1, disclosure of confidential information, 5-900.19
Indirectly secured
Shell vehicle, 5-917.22
Merger
Partnership formed for purpose of, 5-917.211
Bankruptcy
Debtor-in-possession financing, 5-876.3
Refinancing, 5-876.1
Collateral, exchange, 5-875
Consolidated renewal loan, 5-876.2
Single-credit rule, 5-876.11
Advances, temporary—See Temporary advances, this heading.
Affiliates, definition, 5-746
Aggregate indebtedness and collateral, transfer of credit, 5-827
American Depositary Receipts, margin stock, 5-919.14
Annual reports—See Forms, at Form G-4.
Appreciation, valuation, 5-962
See also Arranging credit.
Bankruptcy
Debtor-in-possession financing, 5-876.3
Refinancing, action for bank's own protection, 5-876.1
Banks
Definition, 5-747
Trustee, as, 5-795
Employees' savings plans, for, 5-796
Special-purpose loans to—See Special-purpose loans to broker-dealers, this heading.
Capital
Contribution loans
Broker-dealers, to; special-purpose loans, 5-766
Joint venture, to, 5-819
Subsidiary, to; purpose credit, 5-942.12
Working
Loans to provide, 5-807
Loans to replenish, used to purchase mutual fund shares, 5-818
Carrying loan
Debentures, retirement, 5-797
Definition, 5-747
Insurance premium funding, 5-878.1
Private placement, 5-878
Cash out, loan to; purpose credit, 5-940
Clearing agency
Deposit of securities with, 5-436
Loan to, exempted transaction, 5-884.68 et seq.
COD transactions—See Delivery against payment, this heading.
Collateral
Action for lender's own protection, exchange, 5-875
Additional, acceptance of; transfer of credit, 5-958.1
Aggregate, transfer of credit, 5-827
Exchange, action for lender's own protection, 5-875
Guaranty not collateral, loan value, 5-917.8
Indirectly secured credit
Mixed collateral, negative covenant, 5-923
Trust as collateral, interest in, 5-917.14
Loan value
Guaranty not collateral, 5-917.8
Maximum, 5-775
Mixed—See Mixed collateral, this heading.
Stock
Allocation, 5-807
Subscription agreements, 5-923.1
Trust as collateral, interest in; indirectly secured credit, 5-917.14
Company-sponsored savings plans, indirectly secured credit, 5-902.1
Consolidated renewal loan, action for bank's protection, 5-876.2
Corporate borrower, negative covenants; indirectly secured credit, 5-917.17
Corporate takeovers—See Acquisition financing, this heading.
Covenants, 5-917.19
Corporate borrower, 5-917.17
Employee stock option plans, 5-928
Holding companies
Loans by to subsidiary, 5-910
Indirect security, 5-917.193
Liens, creation precluded; multibank credit agreement, 5-911
Mixed collateral, 5-923
Security interest in pledged assets, bank's equal to other creditor's, 5-917.21
Stock assets, ``substantial part,'' 5-915
Subordinated loan agreements, 5-909
Tender offer, 5-906
Credit cards, 5-942.14
Credit unions
Employee stock option and purchase plans
Mixed membership, credit unions with, 5-882.2
Payroll deductions, 5-880.5
Plan-lenders for, as, 5-882.15
National Credit Union Administration Central Liquidity Facility, 5-880.51
Crossover rights, indirectly secured credit, 5-903
Current market value
Definition, 5-748
Valuation, time of, 5-830
Custodial accounts—See Trustees, banks as, this heading.
Customer
Definition, 5-749
Parent and subsidiary, 5-880.7
Date of commitment, 5-798.2
Public stock, acquisition of, 5-881.1
Revolving-credit agreement, 5-881
Day trading, 5-942.22
Debentures
Nonmargin stock, convertible into, 5-919.11
Retirement, carrying loan, 5-797
Subordinated; indirectly secured credit, 5-917.171
Debit cards, 5-942.14
Debt securities
Convertible, 5-879
Private placement
Acceleration clauses, 5-917.212
SEC Rule 144A, 5-942.69
Debt securities, public offering, 5-927
Purpose credit, as—See Purpose credit, this heading.
Deregistration
Effect, 5-858
Eligibility, 5-857
Form G-2—See Forms.
Distributions of securities, exempt loans, 5-799
Drafting out, 5-942.15
Dragnet provision, indirectly secured credit, 5-908
Earmarking and segregating loan proceeds, 5-935.1
Emergency loans, special-purpose loans to broker-dealers, 5-765
Employee savings plans, banks as trustees for, 5-796
Employee stock option and purchase plans—See Employee stock option and ownership plans.
English private commercial bank as foreign bank, 5-888
Equity securities, loans secured by convertible into margin stocks, 5-942.64
Examining authority, definition, 5-749
Exchange offers, requirements, 5-758
Definition, 5-749
Clearing agency, loan to, 5-884.68 et seq.
Distribution of securities, 5-799
Drafting out, 5-942.15
Employee stock option and purchase plans—See Employee stock option and ownership plans.
Foreign branch of U.S. bank extending credit, 5-884.67
IRS qualification letter, 5-884.66
Net-redemption loan to investment company, 5-884.65
Extending credit, requirements, 5-753
Foreign banking institution
Definition, 5-885
English private commercial bank as, 5-888
Margin regulations, applicability, 5-885 et seq.
Regulation U, applicability, 5-982.2
Single-credit rule, loans made through offices in and outside United States, 5-951.23
Foreign lenders, 5-888.6
Registration, 5-942.65
Foreign subsidiaries, employee stock option plans, 5-882.13
Forms—See Forms, entries for Forms G-1, G-2, G-3, G-4, and U-1.
Forward transactions
Purpose credit, 5-942.25
Withdrawals and substitutions, 5-964
Arranging, 5-877
Futures commission merchants, registration requirements, 5-942.67
Good faith
Definition, 5-749.1
Mistakes in, 5-760
Holding company, by, 5-912
Reliance, purpose statement, 5-823
Guarantees
Form U-1 required, 5-899
Margin stock securing additional debt, 5-917.131
Loan value, not collateral, 5-917.8
Margin stock, secured by, 5-900.54
Option, loan to exercise, 5-802
Ordinary course of business, 5-902.1
Unsecured bank loan, guaranty by corporation, 5-802
Holding company; indirectly secured loan to—See Indirectly secured credit, this heading.
Single-credit rule, 5-951.21
Income tax payment, loan for as purpose credit, 5-939
Borrowers' assets
Corporate loans as negative covenants on, 5-917.17
Stock, 5-915
Commercial paper issued by parent company; secured by subsidiary's stock, 5-917.181
Company-sponsored savings plans, 5-902.1
Conversion package, 5-942.12
Corporate borrower, general negative covenant, 5-917.17
Covenants—See Covenants, this heading.
Crossover rights, 5-903
Definition, 5-750
Dragnet provision, 5-908
Negative covenants, 5-928
Good faith nonreliance, 5-805
Holding companies, 5-912
Margin stock securing additional debt, 5-917.131
Holding companies
Good faith nonreliance, 5-912
Investment companies, loans to, 5-917.12
Liens, creation precluded; multibank credit agreements, 5-911
Liquidation plan, 5-942.17
Mutual funds, loans to, 5-917.2
Negative covenant, 5-917.193
Nonmargin stock, restrictions on, 5-917.13
Nonstock assets, restrictions on, 5-917.13
Restricted property, 5-917.11
Revolving-credit agreement, 5-917.16
Right to seize stock, 5-901
Subordinated debentures, 5-917.171
Subordinated loan agreement, covenant, 5-909
Trust, interest in as collateral, 5-917.14
Twenty-five percent or less margin stock, 5-917.23
Valuation, 5-962.01
Insurance
Companies, credit extended by; Form G-3 required, 5-897
Holding companies, covenants; indirectly secured purpose credit, 5-942.12
Premium funding programs—See Insurance premium funding programs.
Reinsurance, purpose credit, 5-942.13
Interest charges
Balance, added to; single-credit rule, 5-917.7
Capitalization of payments, 5-917.92
In the ordinary course of business, definition, 5-749.1
Intraday loans, special-purpose loans to broker-dealers, 5-763
Investment companies
See also Mutual funds, this heading.
Indirectly secured credit to, 5-917.12
Open-end purpose credit to, 5-814
Temporary net-redemption loan to, 5-884.65
Joint venture as extension of credit, capital contribution, 5-819
Lender, definition, 5-750
Letters of credit, purpose credit; reinsurance, 5-942.13
Liens, creation precluded by multibank credit agreement; indirectly secured credit, 5-911
Line of credit, revolving; Form U-1, 5-900.13
Liquidation plan, purpose credit, 5-942.17
Living-expenses loan, employee stock option plan; purpose credit, 5-817
Loan value
Guaranty not collateral, 5-917.8
Premium included in price paid for stock, 5-917.81
Warrant to buy margin stock, 5-917.83
Maintaining credit, 5-753
Capital-contribution loan, 5-917.9
Interest charges, capitalization of, 5-917.92
Substitutions, 5-917.91
Margin stock
Additional taken as collateral on loans, 5-843
American Depositary Receipts and ordinary shares, 5-919.14
Closed-end investment company, preferred stock of as, 5-919.121
Convertible bonds, receipts for partial interest in, 5-919.16
Insurance policies not considered, 5-919.111
Loans secured by
Equity securities convertible into margin stocks, 5-942.64
Requirements for, 5-850
Loan value, maximum, 5-775
Nonpublic offering, 5-919
Over-the-counter list—See Over-the-counter margin stock list.
Registration requirements, 5-942.64
Small business investment company securities, 5-918
Warrant to buy margin stock, 5-917.83
Market maker, credit to, 5-765
Market value, current
Definition, 5-748
Valuation, time of, 5-830
Mergers—See Acquisition financing, this heading.
Mistakes in good faith, 5-760
Mixed collateral
Negative covenants, 5-923
Nonpurpose credit, for, 5-942.66
Stock subscription agreement, 5-923.1
Withdrawal and substitution, 5-963
Multibank credit agreement, creation of liens precluded; indirectly secured credit, 5-911
Multiple-draw agreements, requirements for purpose statements, 5-755
Mutual funds
Collateral, shares as, 5-924
Indirect security, 5-917.2
Loans to replenish working capital used to purchase, 5-818
Purpose credit, 5-931
National Credit Union Administration Central Liquidity Facility, 5-880.51
Negative covenants—See Covenants, this heading.
Net-redemption loan, temporary; to investment company, 5-884.65
Newly issued stock, loan to purchase, 5-813
Nonbank bank
Affiliate of, definition, 5-745
Definition, 5-752
Nonbank lenders, 5-840 et seq.
Nonmargin stocks
Loan value, maximum, 5-775
Restrictions on, indirectly secured credit, 5-917.13
Nonpublic offering, margin stocks, 5-919
Nonpurpose credit, 5-852
Definition, 5-851
Form U-1 for, 5-889
Mixed collateral, registration requirements, 5-942.66
Nonstock assets, restrictions on; indirectly secured credit, 5-917.13
Open-end investment company, purpose credit, 5-814
Options, maximum loan value, 5-775
Ordinary course of business, in the, 5-925
Guaranty, 5-900.51
Misappropriation of funds, promissory note pending repayment, 5-925.3
Partnership interest, loan secured by; Form U-1, 5-900.15
Payment-against-delivery transactions, temporary advances in; special-purpose loans to broker-dealers, 5-763
Pension plan with multiple advisors, 5-942.68
Plan lender, definition, 5-854
Premium included in price paid for stock, loan value, 5-917.81
Private placement
Carrying loan, 5-878
Public stock, acquisition of; date of commitment, 5-881.1
Public offering of debt securities, 5-927
Purpose credit, as—See Purpose credit, at Debt securities, this heading.
Acquisition financing—See Acquisition financing, this heading.
Capital contribution to subsidiary, 5-942.12
Cash out, loan to, 5-940
Controlling block, for purchase of, 5-936
Credit and debit cards, use of to purchase securities, 5-942.14
Employee stock option plan, living-expenses loan, 5-817
Form U-1—See Forms.
Forward transaction, 5-942.25
Investment company, open-end; to, 5-814
Letters of credit, reinsurance, 5-942.13
Liquidation plan, 5-942.17
Living-expenses loan, employee stock option plan, 5-817
Merger—See Acquisition financing, this heading.
Mutual fund shares, for purchase of, 5-931
Net-redemption loan, temporary; to investment company, 5-884.65
Newly issued stock, for purchase of, 5-813
Nonmargin securities as collateral, 5-888.6
Open-end investment company, to, 5-814
Registered stock, for purchase of, 5-808
Reinsurance, letter of credit, 5-942.13
Restricted securities, promissory notes secured by shares purchased upon exercise of warrants, 5-942.141
Securities exchange membership, loan to purchase, 5-936.1
Subsidiary, loan to, 5-933.2
Subterfuge, 5-933
Tax, income; due upon exercise of stock option; loan to pay, 5-939
Unregistered stock, for purchase of, 5-808
Purpose statements—See Forms, at Form G-3 and at Form U-1.
Receipt-versus-payment transactions—See Delivery against payment, this heading.
Records, 8-349
Refinancing
Bankruptcy, action for bank's own protection, 5-876.1
Transfer of credit, 5-958
Refunding loans, short-term, series; maturity renewals and extensions, 5-950.1
Registered stock, loan for as purpose of credit, 5-808
Change in borrower's assets, indirect security, 5-942.62
Debt securities, purchasers of; private placement, 5-942.69
Equity security convertible into margin stock as collateral, 5-942.64
Form G-1—See Forms.
Futures commission merchants, 5-942.67
Insurance company, 5-942.7
National Credit Union Administration Central Liquidity Facility, 5-880.51
Nonpurpose loan, mixed collateral, 5-942.66
Pension plan with multiple advisors, 5-942.68
Termination, 5-753.1
Authority to approve, 8-121.98
Form G-2—See Forms.
Reinsurance, purpose credit; letters of credit, 5-942.13
Reports
Annual—See Forms, at Form G-4.
Federal Reserve Banks, to be filed with, 5-856
Restricted property, indirectly secured credit, 5-917.11
Restricted securities
Promissory notes secured by shares purchased upon exercise of warrants; purpose credit, 5-942.141
Valuation, 5-960
Revolving credit
Dates of commitment, 5-881
Indirectly secured credit, 5-917.16
Savings and loan associations, Form G-3, 5-888.7
Securities in transit or transfer, loans for; special-purpose loans to broker-dealers, 5-763
Segregating loan proceeds, 5-935.1
Short-term refunding loans, series; maturity renewals and extensions, 5-950.1
Action for lender's protection, 5-876.11
Employee stock ownership plan loan, 5-951.22
Foreign bank, loans by offices in and outside United States, 5-951.23
Hypothecation loans, 5-951.21
Outstanding purpose loan, loan as addition to, 5-825
Revolving credit, 5-900.18
Special-purpose loans, 5-951.2
Splitting of single purpose loan, 5-951.25
Specialists, special-purpose loans to, 5-765
Special-purpose loans to broker-dealers, 5-762 et seq.
Capital-contribution loans, 5-766
Emergency loans, 5-765
Intraday loans, 5-763
Notice, written, 5-762
Payment-against-delivery transactions, temporary advances in, 5-763
Regulations T and U, consistent treatment, 5-621.13
Securities in transit or transfer, loans for, 5-763
Stock
Collateral, allocation, 5-807
Convertible into margin stock, 5-919.1
Loan value—See Loan value, this heading.
Portfolio, indirectly secured credit, 5-902
Required to be held by other bank, 5-904
Premium included in price paid for, loan value, 5-917.81
Registered, purpose credit for purchase, 5-808
Retirement, purpose credit, 5-935
Right to seize, indirectly secured credit, 5-901
Subscription agreements, collateral, 5-923.1
Unregistered, purpose credit for purchase, 5-808
Subordinated debentures, indirectly secured credit, 5-917.171
Subordinated loan agreement, negative covenant; indirect security, 5-909
Substitutions of collateral, 5-757
Maintaining credit, 5-917.91
Withdrawals and—See Withdrawals and substitutions, this heading.
Subterfuge, purpose credit, 5-933
Tax, income; loans to pay
Purpose credit, as, 5-939
Temporary advances
Net-redemption loan to investment company, 5-884.65
Payment-against-delivery transactions, in, 5-763
Additional collateral, acceptance, 5-958.1
Aggregate indebtedness and collateral, 5-827
Facts, method of determining, 5-828
Foreign and U.S. borrower, between; customers of same lender, 5-958.2
Intermediary, borrower as, 5-958.3
Partial transfer, 5-829
Refinancing, 5-958
Trustees, banks as, 5-795
Custodial accounts, delivery against payment, 5-942.2 et seq.
Employees' savings plans, for, 5-796
Unregistered security, loan for purchase; purpose credit, 5-808
Unsecured bank loan, guaranty of by corporation, 5-802
Valuation
Assets of substantial operating companies, 5-962.2
Securities—See Securities.
Warrant to buy margin stock, considered margin stock, 5-917.83
Withdrawals and substitutions, 5-757
Employee stock option plan, 5-882.24
Form G-3, description on, 5-900.54
Forward purchase, 5-964
Renegotiation of purpose credit, 5-965
Revolving credit, 5-890.1
Working capital
Providing, 5-807
Replenishing, used for mutual funds, 5-818
Securities dealers—See Securities brokers and dealers.
Securities Exchange Act of 1934, 5-001 et seq.
Administration of, authority to issue forms and other print matter, 8-108.92
Contracts in violation, 5-245
Extension of credit not affected by, 5-246
Government instrumentalities not affected by, 5-030
Liens, prior; not affected by, 5-246
Loans, validity not affected by, 5-246
Rights and remedies afforded by, effect on existing law, 5-242
State member bank securities subject to, reporting requirements, 3-285 et seq.
Summary, 5-257.5
Terms, power to define, 5-030
Violations
See also Securities violations.
Liability for, 5-216 et seq.
Penalties for, 5-254 et seq.
Securities exchanges
Allowances given by members, regulation by, 5-042
Commissions paid by members, regulation by, 5-042
Discipline of members, 5-033
Charges, specific, 5-039
Notification of member, 5-040
Limiting access to services of exchange for, 5-041
Summary proceedings, 5-039
Suspension, 5-041
Discounts granted by members, regulation by, 5-042
Employees, fingerprinting, 5-169
Fees paid by members, regulation by, 5-042
Fingerprinting of employees, 5-169
Foreign, unlawful acts, 5-247
Futures products—See Futures and forwards, at Security futures products.
Members—See also Securities brokers and dealers.
Definition, 5-002
Discipline—See Discipline of members, this heading.
Lessors as, creditor, 5-621.41
Limitation on numbers, 5-038
Suspension, 5-041
Membership
Denial, 5-034 et seq.
Books, refusal to permit examination, 5-037
Competence, failure to demonstrate, 5-036
Experience, failure to demonstrate, 5-036
Financial responsibility standards, failure to meet, 5-035
Information, failure to supply, 5-037
Operational capability standards, failure to meet, 5-035
Records, refusal to permit examination, 5-037
Statutory disqualification, anyone subject to, 5-034
Training standards, failure to meet, 5-036
Purchase, extension of credit for as purpose credit; exception, 5-936.1
Sale, factoring proceeds of; purpose credit, 5-677.1
Nonmembers effecting transactions to comply with rules, 5-048
Partner of member firm extending credit in individual capacity, 5-475
Rate schedules for members, Securities and Exchange Commission actions regarding, 5-042 et seq.
Records
Examination, refusal to permit to be grounds for membership denial, 5-037
Securities and Exchange Commission, for, 5-159
Registration as national securities exchange, 5-032
Application, notice of filing, 5-195
Securities and Exchange Commission determinations, 5-033
Security futures products, registration for purpose of trading, 5-048.1
Reports to Securities and Exchange Commission, 5-159
Rules for members, 5-033
Nonmembers effecting transactions to comply with, 5-048
Waiver provisions, 5-244
Self-regulatory organization
Definition, 5-017
Rules, definition, 5-018
Services, limiting members' access for disciplinary reasons, 5-041
Suspension of members for disciplinary reasons, 5-041
Unlisted trading privileges for security originally listed on other exchange, 5-074
Approval by Securities and Exchange Commission, 5-075
Hearing, notification of, 5-077
Registration with exchange, 5-077
Suspension or termination by Securities and Exchange Commission, 5-076
Unregistered, government mails and facilities not to be used for transactions, 5-031
Unregistered member, compliance with brokers' and dealers' regulations, 5-125
Securities owners—See Stockholders.
Securities registration, 5-068 et seq.
Adverse action, notice of, 5-084
Agricultural cooperative, exemption, 5-079
Alternative reports, 5-092
Amendment of reports, 5-094
Articles of incorporation to be furnished, 5-070
Balance sheets to be submitted, 5-069
Banks
Cooperative, exemption, 5-079
Issues, requirements, 5-083
Exemption, 5-258
Bonus arrangements, information to be furnished, 5-069
Building and loan association, exemption, 5-079
Bylaws, copies to be furnished, 5-070
Classes of securities, information to be furnished, 5-069
Cooperative bank, exemption, 5-079
Cooperative organization, exemption, 5-079
Date, effective, 5-072
Denial, notice and hearing, 5-084
Directors, information concerning to be furnished, 5-069
Documents to be furnished, 5-070
Effective date, 5-072
Institutional investments manager, 5-100
Life insurance policy, variable, 5-086
Period prior to July 1, 1935, 5-073
Rules and regulations, by, 5-082
Variable-annuity contracts, 5-086
Federal Reserve Board not to state whether offering should be registered, 5-678
Financial statements to be submitted—See Financial statements and reports.
Foreign issuer, exemption, 5-080
Hearing, adverse action by Securities and Exchange Commission, 5-084
Holders of record reduced below 300 persons, termination of registration, 5-080
Homestead organization, exemption, 5-079
Information to be furnished, 5-069 et seq.
Additional and alternative, 5-071
Supplementary and periodic, 5-124
Institutional investments manager, exemption, 5-100
Insurance company, exemption, 5-079
Investment company, exemption, 5-079
Issuance in contravention of rules and regulations, 5-086
Issuer, by, 5-078
Life insurance policy, variable; exemption, 5-086
Listed security, exemption, 5-079
Mutual organization, exemption, 5-079
Nature of business involved, information to be furnished, 5-069
Not-for-profit organization, exemption, 5-079
Officers, information concerning to be furnished, 5-069
Procedure, 5-069
Profit and loss statements to be submitted, 5-059
Profit-sharing arrangements, information to be furnished, 5-069
Registered security, exemption, 5-079
Registration statement, filing, 5-078
Supplementary and periodic information, 5-124
Reports to keep current, 5-088 et seq.
See also Financial statements and reports.
Revocation, notice and hearing, 5-084
Savings and loan association, exemption, 5-079
State member bank securities, Federal Reserve Board authority as to, 8-108.9
Statement, registration; filing, 5-078
Supplementary and periodic information, 5-124
Suspension, notice and hearing, 5-084
Time limits for filing statement, 5-078
Trust indentures, copies to be furnished, 5-070
Unlisted trading privileges, security originally listed on other exchange, 5-074
Approval by Securities and Exchange Commission, 5-075
Hearing, notification of, 5-077
Registration with exchange, 5-077
Suspension or termination by Securities and Exchange Commission, 5-076
Withdrawal, 5-072
Securities violations
Aiding and abetting, 5-217.1
Attorney's fees, not to be paid from SEC disgorgement funds, 5-221.5
Bribery of foreign officials—See Foreign-trade practices by issuer, this heading.
Broker-dealer trading for self, exceptions, 5-062
See also Injunctions for, this heading.
Controlling persons, liability of, 5-216 et seq.
Credit, unlawful extension of, 5-051 et seq.
See also Credit by brokers and dealers; Securities credit by banks and persons other than brokers or dealers, generally.
See also Borrowers obtaining securities credit, generally.
Aiding and abetting, 5-997.1
Damages
Actual loss, limited to, 5-242
Equitable relief for benefit of investors, 5-221.5
Statute of limitations on private causes of action, 5-241.1
False appearance of active trading or market in a security, creation of, 5-057
Government security, in connection with bid or purchase of, 5-123.1
Trading in a security, to induce, 5-057
Fictitious quotations, 5-120
Filing document, report, or information; delaying or hindering a person, 5-217
Findings published by SEC, 5-122
Foreign exchanges, unlawful use of, 5-247
Foreign-trade practices by issuer, 5-248 et seq.
Government security
False or misleading statement in connection with bid or purchase of, 5-123.1
Injunctions for, 5-221
Inside information, use of, 5-217.1
Banks, unfair use of by; policy statement, 3-1550
Contemporaneous traders, liability of, 5-217.2 et seq.
Directors, officers, and beneficial owners of issuer, by, 5-155
Exemptions, SEC authority over, 5-224.73
Informants, rewards to, 5-224.74
Penalties for, 5-224.7 et seq.
Registered brokers and dealers, policies and procedures, 5-125.1
Issuer, by
Bribery of foreign officials, 5-248 et seq.
Inside information, unfair use of by directors, officers, or beneficial owners, 5-155
Loans to executives, personal, 5-105.61
Penalties, 5-256
Purchase of securities by, 5-097 et seq.
Jurisdiction, 5-241
Liability for, 5-060
Limited-partnership rollup transactions, in connection with, 5-117.5 et seq.
Liquidation as penalty, 5-641
Statute of limitations on private causes of action, 5-241.1
Market volatility, affecting, 5-060.1
Misleading statements, liability for, 5-193 et seq.
Misrepresentations regarding Federal Reserve Board or Securities and Exchange Commission, 5-240
National securities exchange member trading for own account or account of associated person, 5-062
See also Options.
Penalties, 5-254 et seq.
Inside information, for use of, 5-224.7 et seq.
Price manipulation, 5-057 et seq.
Proxies, regarding, 5-107 et seq.
Purchase of securities by issuer, 5-097 et seq.
Relief for benefit of investors, 5-221.5
Short sales, 5-061
See also Credit by brokers and dealers.
Stop-loss orders, 5-061
Straddles, regarding, 5-058
Trading for own account or account of associated person; broker-dealer or exchange member, 5-062
Unregistered exchanges, transactions on, 5-031
Security (national)—See National security.
Security devices and procedures, 3-371 et seq.; 3-406
Edge and agreement corporations, applicability to, 3-451
Federal Reserve Banks, written program, 3-373
Information, customer, 3-1571 et seq.
See also Identity theft.
Insurance premium rate differentials, 1-472.3
State agencies, federal agencies to consult with on premium differentials, 1-472.3
Alarm systems, standby power equivalency alternatives, 3-453
Currency safekeeping, 3-452
Deficiencies
Penalties, 1-472.4
Federal Reserve Bank authority as to, 8-121.95
Information, customer, 3-1571 et seq.
See also Identity theft.
Minimum standards for security devices, safes, 3-454
Penalties for regulatory violations, 1-472.4
Reporting requirements, 3-373
Security officers, designation of, 3-456
Vaults
Currency safekeeping, 3-452
Safe deposit boxes placement, 3-454
Self-regulatory organizations (securities)—See also Clearing agencies; Municipal Securities Rulemaking Board; Registered securities associations; Securities exchanges.
Courts, appointment as trustee, 5-215
Definition, 5-017
Directors, removal from office or censure, 5-214
Disciplinary sanctions against members or participants, 5-205 et seq.
Affirmation by regulatory agency, 5-207
Association with members, barring from, 5-213
Cancellation by regulatory agency, 5-208
Censure of officers or directors, 5-214
Determination, 5-207
Dismissal of review, 5-209
Expulsion from membership, 5-212
Notice, 5-205
Reduction by regulatory agency, 5-208
Regulatory agency appointed to act as trustee, 5-215
Removal of officers or directors from office, 5-214
Review by regulatory agency, 5-206
Revocation of registration, 5-211
Suspension of registration, 5-211 et seq.
Trustee, regulatory agency appointed to act as, 5-215
Enforcement powers of Securities and Exchange Commission, 5-223
Examination coordination, 5-172.8
Officers, removal from office or censure, 5-214
Registration
Cancellation, 5-197
Revocation, 5-211
Suspension, 5-211 et seq.
Withdrawal, 5-197
Regulations, compliance with, 5-210
Regulatory agencies' annual reports to Congress, 5-228
Rulemaking powers, 5-164
Rules
Changes, proposed, 5-198 et seq.
Definition, 5-018
Securities and Exchange Commission, limitation on enforcement powers, 5-223
Securities Exchange Act limits modifications of effect of existing law, 5-243
Financial responsibility rules, definition, 5-029
Statutory disqualification, definition, 5-028
Trustee, regulatory agency appointed to act as, 5-215
Settlement—See Wire transfers of funds, at Net settlements.
Sex discrimination
Credit—See Equal credit opportunity.
Employment
Banks, 3-1527
Federal Reserve Board—See Equal employment opportunity (Federal Reserve Board), generally.
Shareholders—See Stockholders.
Sherman Antitrust Act, 1-403
See also Antitrust law.
Insured depository institutions, mergers of; applicability, 1-392
Signatures
Business credit, as for other loans; equal credit opportunity, 6-139
Cosigner requirement on credit application must be equitably applied, 6-132
Spouses' or others'
Community property states, requirement for spouse requesting individual unsecured credit, 6-036; 6-136; 6-5036
Cosigner, spouse not to be specified on credit application; equal credit opportunity, 6-037; 6-132; 6-5037
Credit application, not to be required on; equal credit opportunity, 6-035 et seq.; 6-130; 6-5035 et seq.
Secured credit, exception, 6-134
Unsecured credit, exception, 6-135
Integrated instruments, equal credit opportunity, 6-137
Silver
Bank holding companies—See Bank holding companies.
Foreign accounts, earmarking for; permission required, 7-084
Small Business Administration
Advances, Federal Reserve Bank; obligations of eligible as collateral for, 2-040
Depositaries for, Federal Reserve Banks as, 1-277
Guaranteed loans, confirmations of originator's fees; exempted securities, 5-628.24
Intervention rights, regulatory rules, 1-522.2
Regulatory rules, right of intervention, 1-522.2
Small business investment companies
Bank examiner, offering gratuity or loan to; as criminal offense, 1-451
Acceptance as criminal offense, 1-452
Depositaries for, Federal Reserve Banks as, 1-278
Member banks, permissible investments, 1-299
National banks, permissible investments, 1-299
Nonmember insured banks, permissible investments, 1-299
Securities issued by not considered margin stock, 5-918
Social Security
Equal credit opportunity, income from not to be considered for applicant, 6-121
Special drawing rights
Certificates issued by secretary of Treasury to Federal Reserve Banks, 1-290
Exchange Stabilization Fund, redemption from resources of, 1-290
Spouses
Bank holding company, insurance for debtor's spouse; not closely related to banking, 4-337
Credit, discrimination in extension of—See Equal credit opportunity.
Executive officer of member bank, loan to spouse of in community property state, 3-1081.1
Insurance for debtor's spouse by bank holding company, not closely related to banking, 4-337
State agencies
Bank holding companies
Bank acquisitions, application for approval; notice, 4-067
Bank insuring corporations ineligible for Federal Reserve membership, 3-448
Bank supervisory agencies
Coordination of examination authority, 1-385.06 et seq.
Insured depository institutions, supervision of by
Acquisitions, notification concerning, 1-345
Merger litigation, 1-392
Security devices in banks, federal agencies to consult with, 1-472.3
Bonds—See State obligations.
Broker-dealer cash accounts, educational institution endowment funds in; prompt payment, 5-713
Clearing agencies
Federal agencies, cooperation with regarding, 5-190
Rulemaking powers regarding, 5-191
Educational institution endowment funds, prompt payment in special cash account, 5-713
Fair housing laws, administering; cooperation with, 6-1471
Foreign banking business
See also Foreign banking organizations.
Authorization, 2-242
Definition as to, 1-564
Home state, operation outside of, 1-565 et seq.
Offices, establishment and termination of; Federal Reserve Board to consult with state bank supervisor, 1-570.6
Insurance regulator
Authority in relation to Federal Reserve Board, functionally regulated subsidiaries and affiliates, 1-401.7 et seq.
Bank holding company required to provide assets to subsidiary depository institution; authority, 4-088.1; 4-088.2
Obligations—See State obligations.
Securities
Issued by—See State obligations.
Jurisdiction over, 5-242
Security devices in financial institutions, federal agencies to consult with, 1-472.3
Transfer agents
Federal agencies, cooperation with regarding, 5-190
Rulemaking powers regarding, 5-191
State banks
Branches, interstate; activities of, 1-399.2
Capital stock of Federal Reserve Banks, state bank becoming member bank, 3-461
Consolidation—See also Bank mergers and consolidations.
Comptroller of the Currency, approval of, 1-294
National bank, with; admission to Federal Reserve System, 1-055
Definition
Branches of national banks, as to, 1-296
Deposit insurance, as to, 1-335
Deposit insurance—See Insured banks, this heading.
Federal Reserve System membership—See State member banks.
Insured banks
Acquisitions involving, notification of state banking agency, 1-345
Disciplinary action against, by federal banking agency
Proceedings, intent to institute; notification, 1-381
Service of notices or orders, 1-380
Equity investments by, 1-399.1 et seq.
Common and preferred stock, 1-399.15 et seq.
Federal Deposit Insurance Corporation as banking agency for, 1-336
Examination of, 1-384 et seq.
Financial subsidiaries of, safety-and-soundness firewalls, 1-401.73 et seq.
Housing projects, investments in by insured state banks, 1-399.11
Institution-affiliated party, federal agency intent to proceed against, notification requirements, 1-381
Bankers' blanket bond group coverage, 1-399.16
Liability insurance for directors, trustees, and officers, 1-399.16
Savings bank life insurance, 1-399.14
Interstate branches, activities of, 1-399.2
Mergers and consolidations of, approval authority, 1-387
Permissible activities, 1-399 et seq.
``Activity'' defined, 1-399.19
Subsidiaries' activities, 1-399.13
Reports of condition
Access to, 1-340
Content of, 1-341 et seq.
Security measures, Federal Deposit Insurance Corporation authority, 1-472
Termination of deposit insurance, 1-355 et seq.
Agreement or condition, enforcement of, 1-401.76
Member banks—See State member banks.
Merger with national bank, admission to Federal Reserve System, 1-055
National banks, conversion into, 1-051 et seq.
Assets, retention of by converting bank, 1-053
Authorization, 1-052
Branches, continued operation, 1-294
Certification, 1-052
Corporate powers to be considered, 1-057
Deposit insurance status, 1-337
Federal Reserve membership retention, 1-055
Financial condition to be considered, 1-057
Management to be considered, 1-057
State law
Availability of funds, preemption by federal law—See Availability of funds.
Bank branching applications, Federal Reserve Board prior notice requirement, waiver, 8-042
Bank holding companies, actions against tie-in arrangements; actions under other laws unaffected, 4-162
Corporations organized under, international banking; investments in, 3-710
Electronic funds transfers—See Electronic funds transfers.
Equal credit opportunity—See Equal credit opportunity.
Fair Credit Reporting Act
Effect on, 6-1648
Relation to, 6-1577
Fair Debt Collection Practices Act, relation to, 6-1699
Fair Housing Act, effect on, 6-1470
Homeowners Protection Act, effect on, 6-1817
Interest-rate and other charge limitations, 1-401.63
International banking corporations organized under, investments in, 3-710
Interstate bank mergers, 1-401.5 et seq.
Coordination of examination authority, 1-385.06 et seq.
Investments in international banking corporations organized under, 3-710
Member banks subject to, 1-066
Mortgage servicing, conflicts with federal regulation, 6-1356.23
Mortgage usury laws, 1-602 et seq.
See also Mortgages, at Usury.
Time deposit, ownership determined by; early withdrawal, 2-343.13
Truth in lending—See Truth in lending.
State member banks—See also Member banks; State banks.
Acceptances—See Acceptances.
Advertising
False or misleading, as unsound banking practice, 3-411
Honorary directors and advisory board members, publishing names of, 3-410
Audits of—See Insured depository institutions.
Audits of—See Insured depository institutions.
See also Insured depository institutions, specific topics.
Agreement to correct, 8-121.4
Capital category, reclassification as a result of, 8-094.9 et seq.
Deposit insurance, termination for, 1-355.1
Securities activities, 3-1562
In excess of limit for national banks, 3-1563
Bankrupt—See Conservator for, this heading.
Board of directors, definition, 3-151
Bonds, mortgage; issuance by trust company affiliate, 3-414.9
Branches
Closing of—See also Insured depository institutions.
Policy for, adoption of, 1-401.41
Definition, 3-151
Industrial loan companies, state law restricting, 3-447.3
Money orders, selling off premises, 3-423
Retention of, 1-056
Service building off premises, 3-421
Televised, off-site, remote-control customer facilities, 3-422
Tellers' windows off bank premises, 3-418
Time period for establishment, extension authority, 8-121.3
Foreign—See Foreign branches, this heading.
Interstate
Deposit production, use of for, 3-170 et seq.
Industrial loan companies, state law restricting, 3-447.3
Names of, 3-1503.6
Relocation of, 3-169
Brokerage services, discount; use of by trust departments, 3-447.11
Call reports—See Financial statements and reports.
Campaign contributions, unsound banking practice, as, 3-447.1
Capital—See Capital.
Capital stock of Federal Reserve Banks—See Capital stock of Reserve Banks.
Changes in business not involving risk, approval, 3-428
Clearing agencies, as
Conservator for uninsured bank operating multilateral organization, 1-076.1
Discipline of participants
Notice requirements, 3-252 et seq.
Review of action, application for, 3-261
Stay of action, application for, 3-261
Clubs, private; payment of fees and dues for employees, 3-1527
Commercial paper, recordkeeping and confirmation, 3-447.02
Bank holding company subsidiaries, by 4-178
Conservator for, Federal Reserve Board authority to appoint
FDIC as, 1-104.2
Uninsured bank operating or operating as multilateral clearing organization, 1-076.1
Consolidation—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, 3-489
Credit card issuers and merchant-service providers, investment in, 3-447.14
Crimes involving, reporting, 3-374
Customer identification program, Bank Secrecy Act compliance, 3-378
Deposit insurance—See Insured depository institutions, at State member banks.
Deposit production, use of interstate branches primarily for; prohibited, 3-170 et seq.
Directors
Diversion of income to parent, unsound practice, 4-876
Employee Retirement Income Security Act, violations of by; Board notification to Department of Labor, 8-108.7
Employment discrimination, 3-1527
Environmental liability, 3-1520
Equal employment opportunity evaluation, 3-1527
Examinations and inspections—See Bank examination.
Federal Agricultural Mortgage Corporation stock, investment in, 3-447.13
See also this heading generally.
Admission procedures, 1-055
Certification authority, 8-108.7
Capital stock of Federal Reserve Banks, 3-483
Delegated approval authority, 8-121.93
Stock subscribed to be payable on call, 1-058
Capital requirements—See Capital.
Capital stock requirements—See Capital stock of Reserve Banks.
Acceptance corporations not eligible, 3-436
Building and loan associations not eligible, 3-434
Private bankers not eligible, 3-435
State bank insuring corporations not eligible, 3-448
Trust companies eligible, 3-437
National bank
Conversion to, 1-051 et seq.
Conversion to or merger with state bank, status as member, 1-055
Subscription, payment of, 3-484
Timing and method of, 8-121.1
Fees assessed by parent, excessive or unwarranted, 4-876
Financial reporting—See Financial statements and reports.
Affiliate, considered, 3-383.1
Anti-tying prohibitions, 3-383.2
Capital deduction of equity investment in, 3-383
Community Reinvestment Act rating, 3-385
Debt rating of bank, required, 3-381.1
Eligible debt, definition, 3-387
Failure to continue to meet requirements, 3-384.2
Long-term issuer credit rating, definition, 3-387.1
Definition, 3-387.1
Failure to continue to meet requirements, 3-384 et seq.
Notice requirements, 3-386
Approval, 3-386.1
Insurance activities, 3-386.1
Permissible activities, 3-382
Risk management, 3-383.1
Well capitalized and well managed, definition, 3-387.2
Floods, loans on property in—See Flood insurance.
Foreign branches
See also International banking operations.
Establishment and maintenance, 3-164
Examination, on-site, 3-720
Securities transactions, exception for, 3-262
Foreign subsidiaries, operations, 3-705
Forms—See Forms.
Institutional customers, 3-440
Government-sponsored corporations, investment in stock of, 3-447.13
Hedging—See Hedging.
Income, diversion of by parent, 4-876
Individual retirement accounts, acceptance of, 3-432
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, 3-1579.451
High loan-to-value loans, 3-1579.34
Securities, acting as agent or medium, 3-415
Subprime, 3-1579.33
Management fees resulting in undercapitalization prohibited, 3-340
Definition of ``management fee,'' 3-328
Mergers—See Bank mergers and consolidations.
Mortgages—See Mortgages.
Mutual funds
Effecting transactions in, 3-447.02
Investment in, majority interest, 3-415.3
Officers
Senior executive, definition, 4-055.1
Operations subsidiaries
Foreign, 3-705
Purchase of stock of, 3-415.4
Participations, definition, 3-416.13
Partnerships, limited; participation in, 3-447.14
Proxy mailings, Federal Reserve Board authority as to, 8-108.91
Public welfare, investments to promote, 3-203 et seq.
Reserve Bank authority to approve, 8-121.97
High loan-to-value loans, 3-1579.34
Receiver for, Federal Reserve Board authority to appoint FDIC as, 1-104.2
Reports—See Reports.
Repurchase agreements, policy on issuance, 3-1579
Retirement trusts, self-employed; acceptance of, 3-432
Safe banking practices—See Banking practices, this heading.
Securities, dealing in; limitations and conditions, 1-073
Securities investments
Equity securities, purchase of to hedge bank-permissible equity derivative transactions, 3-416.14
Risk management, 3-1562
Securities loans, acting as medium or agent, 3-415
Securities of subject to registration
Registration statements, Federal Reserve Board authority as to, 8-108.9
Unlisted trading in, Federal Reserve Board authority to issue notices of applications, 8-108.9
Institutional customers, 3-440
Securities transactions effected by, 3-250 et seq.
Affiliate bank as customer, 3-447.01
Bonds, issuance of by trust company affiliate, 3-414.9
Confirmation of, 3-262 et seq.
Inside information, policy statement on use of, 3-1550
Settlement, 3-273
Trading policies and procedures, 3-273
Security measures—See Security devices and procedures.
Student Loan Marketing Association stock, investment in, 3-447.13
Transfer agents, acting as, 3-251
Troubled condition, definition, 4-055.1
Trust business, engaging in; self-employed retirement trusts, 3-432
Unsafe or unsound practices—See Banking practices, this heading.
State obligations
Exempted securities, state bonds as; dormitory bonds not exempt, 5-623
Federal Reserve Banks dealing in as open market operations, 1-131
National banks, well capitalized; investment by, 1-297
States—See specific subjects.
Definition—See Definitions.
Stock—See also Equity securities; Securities.
Common
Insured state banks' investment in, 1-399.15 et seq.
Loan to corporate president for purchase of, 5-925.2
Preferred convertible to, registration requirements, 5-942.6
Controlling block—See Tender offers.
Dividends—See Dividends.
Edge corporations—See Edge corporations.
Employee stock option and purchase plans—See Employee stock option and ownership plans.
Federal Reserve Bank stock—See Capital stock of Reserve Banks.
Foreign, arbitrage account, 5-535
Foreign margin stocks
Definition, 5-395.1
Authority to issue, 8-108.92
Fungibility of shares in restricted broker-dealer account, 5-517
Insured depository institution, of
Collateral on loan from foreign bank or affiliate, as; reports on, 1-350.1 et seq.
Valuation standards, prescribed by regulation, 1-401.1
Margin—See also Borrowers obtaining securities credit; Credit by brokers and dealers; Securities credit by banks and persons other than brokers or dealers, generally.
Definition, 5-751
Member banks—See also Member banks.
Affiliates, stock of as collateral—See Affiliate-member bank relations.
National banks—See National banks.
Over-the-counter margin stock
Definition, 5-399
List—See Over-the-counter margin stock list.
Penny, definition, 5-029.17
Person participating in an offering of, definition, 5-221.5
Preferred
Convertible, 4-457
Delayed-delivery contracts, 5-515
Employee stock option plans
Convertible into common stock, registration requirements, 5-942.6
Series, two or more, 5-882.12
Insured state banks' investment in, 1-399.15 et seq.
National bank, of, 1-307
Restricted, as collateral; margin account, 5-650.34
Splits, acquisition of bank interests by bank holding companies, 4-171
Stapling, bank control, 4-448
State member banks—See State member banks.
Valuation—See Securities.
Stockbrokers—See Securities brokers and dealers.
Stock exchanges—See Securities exchanges.
Stockholders
Bank holding companies
Complaints of minority shareholders, acquisition of bank interest, 4-267
Principal shareholder, definition as to bank holding companies, 4-009
Banks, Federal Reserve Board members not to hold stock of, 1-080
Clearing agency, fair representation in, 5-177
Edge corporation
Citizenship of stockholders, 1-239
Liability, 1-241
Meetings, 1-245
Records of, 1-245
Federal Reserve Banks—See Capital stock of Reserve Banks.
Federal Reserve Board members
Bank stock, not to hold, 1-080
Edge corporation, not to hold stock in, 1-240
Inside information, unfair use of by—See Principal shareholders, this heading.
Investment accounts, securities held in, 5-156
Member banks
Loans to principal—See Loans to officers, directors, and shareholders of member banks.
Minority, complaints of; bank mergers, 4-267
National banks, in; assessment, 1-306
Principal shareholders
Definition as to bank holding companies, 4-009
Inside information, unfair use of by, 5-155
Penalties for, 5-224.7 et seq.
Investment accounts, securities held in; transactions, 5-156
Sales, conditions for, 5-156
Statement filed with Securities and Exchange Commission, 5-154
Suits to recover profits, 5-155
Stock option and ownership plans—See Employee stock option and ownership plans.
Straddles—See Options, generally.
Student Loan Marketing Association
Exempted securities, 5-628.15
Repurchase agreement on guaranteed securities, exemption from reserve requirements, 2-305.5
Subpoenas
Bank holding companies, in actions involving tie-in arrangements, 4-158
Fair housing, as to, 6-1462
Federal Open Market Committee protected information, to produce, 8-822.5
Financial privacy, right to—See Right to financial privacy, this heading.
Financial records transmittal to government agencies, reimbursement rule exception, 3-1206
Insured depository institutions
Examination of, federal authority to issue, 1-385
Regulatory violations by, federal investigative powers, 1-382
International Banking Act, in connection with enforcement of, 1-574.1 et seq.
Right to financial privacy, in connection with, 6-1758
Administrative subpoenas, 6-1758
Judicial subpoenas, 6-1761
Securities and Exchange Commission investigations, witnesses, 5-219
Penalty for violations, 5-220
Subsidiaries—See specific institutions whose subsidiaries are sought.
Substitute checks, 9-573 et seq.; 9-732 et seq.
See also Availability of funds.
Check
Definition, 9-733.1
Substitute check, defined as check, 9-040
Claimant bank, definition, 9-025.1
Consumer account, definition, 9-733.1
Damages—See Liability, this heading.
Depositary bank, definition, 9-733
Delivery, mode of, 9-581
Liabilities of indemnifying bank, other; not affected by, 9-578.2
Notice of claim by consumer, 9-737.5
Refund to indemnifying bank, 9-578.3
Invalid claim
Action on, 9-576.2
Notice of denial, model, 9-634
Investigation, pending—See Provisional, this subheading.
Delivery, mode of, 9-581
Model, 9-632 et seq.
Valid claim
Action on, 9-576.2
Forward collection, definition, 9-733.2
Indemnifying bank
Definition, 9-025.2
Expedited recredit
Banks, for, 9-578.2
Noncash item, definition, 9-733.2
Delivery, mode of, 9-581
Reconverting bank
Report to Congress concerning, 9-738.7
Returning bank, definition, 9-733
Sufficient copy
Delivery, mode of, 9-581
Truncating bank
Identification, 9-655
Summonses
Currency and foreign transactions, recordkeeping and reporting, 3-1776 et seq.
Right to financial privacy, administrative summonses as to, 6-1758
Supreme Court
Insured depository institutions, disciplinary actions against; review of court decisions, 1-373
Interlocking directorates among financial institutions, cease-and-desist orders
Modification and setting aside, 1-412
Rehearing ordered for, 1-413
Surface Transportation Board
Antitrust law
Enforcement powers, 1-407
Stock acquisitions reducing competition or creating monopolies, 1-404
Fair credit reporting, enforcement authority, 6-1575
Fair debt collection practices, enforcement authority, 6-1696
Swap transactions
Advice, bank holding companies providing, 4-049.1
Agreements, 5-030.5
Definition, 5-030.2
Non-security-based
Definition, 5-030.2
Security, not considered, 5-030.5
Security-based
Clearing for, 5-030.7
Collateral, segregation of assets held as, 5-030.9
Definition, 5-030.2
Directors, officers, and principal shareholders of issuer of underlying security; purchase or sale of agreement, 5-154; 5-155; 5-158
Execution facilities, 5-030.8
Manipulation of securities prices, 5-057 et seq.
Position limits and accountability, 5-061.2
Regulation of dealers and major participants, 5-153.5
Dollar swaps, broker-dealer arranging credit, 5-555
International banking, acting as principal or agent permissible in connection with, 3-546
Margin and capital requirements for covered swap entities, 3-3680 et seq.
Principal, engaging as; activity closely related to banking, 4-049.5
Transactional services, activity closely related to banking, 4-049.3
Sweep arrangements
Broker, bank effecting transactions not considered, 5-003
Commercial-paper sweep arrangements, closely related to banking, 4-318.1
Zero-interest time-deposit open account, 3-1597
System Open Market Account
Definition, 8-824
Manager, designation and functions of, 8-804
Transactions in obligations for, 8-826 et seq.