12 C.F.R. § 363.1 Scope.
Title 12 - Banks and Banking
(a) Applicability. This part applies with respect to fiscal years of insured depository institutions which begin after December 31, 1992. This part does not apply with respect to any fiscal year of any insured depository institution, the total assets of which, at the beginning of such fiscal year, are less than $500 million. (b) Compliance by subsidiaries of holding companies. (1) The audited financial statements requirement of §363.2(a) may be satisfied for an insured depository institution that is a subsidiary of a holding company by audited financial statements of the consolidated holding company. (2) The other requirements of this part for an insured depository institution that is a subsidiary of a holding company may be satisfied by the holding company if: (i) The services and functions comparable to those required of the insured depository institution by this part are provided at the holding company level; and (ii) The insured depository institution has as of the beginning of its fiscal year: (A) Total assets of less than $5 billion; or (B) Total assets of $5 billion or more and a composite CAMELS rating of 1 or 2. (3) The appropriate federal banking agency may revoke the exception in paragraph (b)(2) of this section for any institution with total assets in excess of $9 billion for any period of time during which the appropriate federal banking agency determines that the institution's exemption would create a significant risk to the Deposit Insurance Fund. [58 FR 31335, June 2, 1993, as amended at 61 FR 6493, Feb. 21, 1996; 70 FR 71232, Nov. 28, 2005; 71 FR 20527, Apr. 21, 2006]
Title 12: Banks and Banking
PART 363—ANNUAL INDEPENDENT AUDITS AND REPORTING REQUIREMENTS
§ 363.1 Scope.
