12 C.F.R. § 347.112 Restrictions applicable to foreign organizations that act as futures commission merchants.
Title 12 - Banks and Banking
(a) If a bank acquires or retains an equity interest in a foreign organization that acts as a futures commission merchant pursuant to §347.105(b)(16), the foreign organization may not be a member of an exchange or clearing association that requires members to guarantee or otherwise contract to cover losses suffered by other members unless the: (1) Foreign organization's liability does not exceed two percent of the bank's Tier 1 capital, or (2) Bank has obtained the prior approval of the FDIC under §347.120(d). (b) [Reserved]
Title 12: Banks and Banking
PART 347—INTERNATIONAL BANKING
§ 347.112 Restrictions applicable to foreign organizations that act as futures commission merchants.
