Current through November 30, 2024
(a) In addition to the applicable filing procedures of part 303 of this chapter, this part establishes certain requirements for filings involving an industrial bank or a Covered Company.(b) The requirements of this part do not apply to an industrial bank that is organized as a subsidiary of a company that is not subject to Federal consolidated supervision by the Federal Reserve Board (FRB) before April 1, 2021. In addition, this part does not apply to:(1) Any industrial bank that is or becomes controlled by a company that is subject to Federal consolidated supervision by the FRB; and(2) Any industrial bank that is not or will not become a subsidiary of a company.