Section 206.1 - Authority, purpose, and scope(a)Authority and purpose. This part (Regulation F, 12 CFR part 206 ) is issued by the Board of Governors of the Federal Reserve System (Board) under authority of section 23 of the Federal Reserve Act (12 U.S.C. 371b-2 ). The purpose of this part is to limit the risks that the failure of a depository institution would pose to insured depository institutions.(b)Scope. This part applies to all depository institutions insured by the Federal Deposit Insurance Corporation.Reg. F, 57 FR 60106, Dec. 18, 1992, as amended at 68 FR 53283 , Sept. 10, 2003