Section 238.150 - Applicability and general provisions(a)In general. This subpart establishes single counterparty credit limits for a covered company. For purposes of this subpart, covered company means: (i) A Category II savings and loan holding company; or(ii) A Category III savings and loan holding company.(b)Credit exposure limits.(1) Section 238.152 establishes credit exposure limits for a covered company.(2) A covered company is required to calculate its aggregate net credit exposure, gross credit exposure, and net credit exposure to a counterparty using the methods in this subpart.(c)Applicability of this subpart.(1) A covered company that becomes subject to this subpart must comply with the requirements of this subpart beginning on the first day of the ninth calendar quarter after it becomes a covered company, unless that time is accelerated or extended by the Board in writing.(d)Cessation of requirements. Any company that becomes a covered company will remain subject to the requirements of this subpart unless and until it is not a Category II savings and loan holding company or a Category III savings and loan holding company.At 84 FR 59087, Nov. 1, 2019, subpart Q was added, and within that subpart, §238.150 was added with incorrect paragraph coding in paragraph (a).