Code of Federal Regulations · Section
§ 208.120 — Authority, Purpose, And Scope
12 C.F.R. § 208.120
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(a) Authority. This subpart is issued by the Board under section 7 of the Federal Deposit Insurance Act, 12 U.S.C. 1817(a)(3) and (12), and section 9 of the Federal Reserve Act, 12 U.S.C. 324.
(b) Purpose and scope. This subpart informs a state member bank where it may obtain forms and instructions for reports of conditions and implements 12 U.S.C. 1817(a)(12) to allow reduced reporting for a covered depository institution when such institution makes its reports of condition for the first and third calendar quarters of a year.
Authorizing Statute
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Laws applicable on becoming members12 U.S.C. § 324
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Assessments12 U.S.C. § 1817
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Flood insurance purchase and compliance requirements and escrow accounts42 U.S.C. § 4012a
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Necessity for regulation15 U.S.C. § 78b
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Corporate powers of associations12 U.S.C. § 24
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Compliance, exemptions, and summons authority31 U.S.C. § 5318