Code of Federal Regulations · Section
§ 208.30 — Authority, Purpose, And Scope
12 C.F.R. § 208.30
(a) Authority. Subpart C of Regulation H (12 CFR part 208, subpart C) is issued by the Board of Governors of the Federal Reserve System under 12 U.S.C. 24, 92a, 93a; sections 1818 and 1831p-1(a)(2) of the FDI Act (12 U.S.C. 1818, 1831p-1(a)(2)); and sections 78b, 78l(b), 78l(g), 78l(i), 78o-4(c)(5), 78o-5, 78q, 78q-1, and 78w of the Securities Exchange Act of 1934 (15 U.S.C. 78b, 78l(b), 78l(g), 78l(i), 78o-4(c)(5), 78o-5, 78q, 78q-1, 78w).
(b) Purpose and scope. This subpart C describes the requirements imposed upon member banks acting as transfer agents, registered clearing agencies, or sellers of securities under the Securities Exchange Act of 1934. This subpart C also describes the reporting requirements imposed on member banks whose securities are subject to registration under the Securities Exchange Act of 1934.
Authorizing Statute
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Corporate powers of associations12 U.S.C. § 24
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Termination of status as insured depository institution12 U.S.C. § 1818
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Necessity for regulation15 U.S.C. § 78b
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Flood insurance purchase and compliance requirements and escrow accounts42 U.S.C. § 4012a
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Compliance, exemptions, and summons authority31 U.S.C. § 5318