12 C.F.R. § 221.102 Application to committed credit where funds are disbursed thereafter.
Title 12 - Banks and Banking
The Board has concluded that the date a commitment to extend credit becomes binding should be regarded as the date when the credit is extended, since: (a) On that date the parties should be aware of law and facts surrounding the transaction; and (b) Generally, the date of contract is controlling for purposes of margin regulations and Federal securities law, regardless of the delivery of cash or securities.
Title 12: Banks and Banking
PART 221—CREDIT BY BANKS AND PERSONS OTHER THAN BROKERS OR DEALERS FOR THE PURPOSE OF PURCHASING OR CARRYING MARGIN STOCK (REGULATION U)
Interpretations
§ 221.102 Application to committed credit where funds are disbursed thereafter.
