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Membership of State Banks in the Federal
Reserve System
12 CFR 208
Summary
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 Major
Provisions
- Defines the requirements
for membership of state-chartered banks in the Federal
Reserve System
- Sets limitations
on certain investments and requirements for certain
types of loans
- Describes rules pertaining
to securities-related activities
- Establishes the minimum
ratios of capital to assets that banks must maintain
and procedures for prompt corrective action when
banks are not adequately capitalized
- Prescribes real estate
lending and appraisal standards
- Sets out requirements
concerning bank security procedures, suspicious-activity
reports, and compliance with the Bank Secrecy Act
- Establishes rules
governing banks' ownership or control of financial
subsidiaries
Small
Entity Compliance Guide
Information
Security Compliance Guide
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Proposed Amendments
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 Request
for comment on ways to reduce burden of rules regarding
prompt corrective action
comments due 4.06.06
To
revise the existing risk-based capital framework to
enhance its risk sensitivity
comments due 1.08.06
Two
interagency documents related to the proposed implementation
of the new Basel Capital Accord in the United States
comments due 11.03.03
To
the risk-based capital guidelines, to clarify the treatment
of tax-deferred assets comments
due 12.27.01
To
establish a simplified regulatory capital framework
for noncomplex institutions
comments due 2.01.01
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Recent Amendments
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Amendment
adding interpretive guidance on response programs to
deal with security breaches involving customer information
eff 3.29.05
Amendment
of the risk-based capital adequacy guidelines to remove
unnecessary regulatory text and summary tables and attachments
that summarize the definition of capital, the
risk categories, credit-conversion factors, credit-equivalent-amount
calculations, and transitional arrangements
eff 4.11.05
Amendment
to require financial institutions to adopt measures
for properly disposing of consumer information derived
from credit reports eff
7.01.05
Amendment
of the risk-based capital guidelines to modify the treatment
of assets in asset-backed commercial paper programs
eff 9.30.04
Amendment
requiring certain financial institutions to establish
procedures to verify the identity of new account holders
eff 6.09.03
Amendment
to enforce enhanced reporting, disclosure, and corporate-governance
obligations of state member banks that have a class
of securities registered under the Securities Exchange
Act of 1934 eff 4.03.03
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Rules
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Subpart
A - General membership and branching
requirements
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208.1 Authority, purpose, and scope
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208.2 Definitions
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208.3 Application and conditions for
membership in the
 Federal
Reserve System
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208.4 Capital adequacy
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208.5 Dividends and other distributions
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208.6 Establishment and maintenance
of branches
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208.7 Prohibition against use of interstate
branches
primarily
for deposit production
Subpart
B - Investments and loans
SEC_CODE_REF_0090001192884
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208.20 Authority, purpose, and scope
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208.21 Investments in premises and
securities
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208.22 Community development and public
welfare
investments
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208.23 Agricultural loan loss amortization
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208.24 Letters of credit and acceptances
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208.25 Loans in areas having special
flood hazards
Subpart
C - Bank securities and security related
activities
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208.30 Authority, purpose, and scope
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208.31 State member banks as transfer
agents
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208.32 Notice of disciplinary sanctions
imposed by
registered clearing agency
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208.33 Application for stay or review
of disciplinary
sanctions imposed by registered clearing agency
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208.34 Recordkeeping and confirmation
of certain
securities transactions effected by State member
banks
- 208.35
Qualification requirements for transactions
in
certain securities
Reserved
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208.36 Reporting requirements for
State member banks
subject to the Securities Exchange Act of 1934
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208.37 Government securities sales
practices
Subpart
D - Prompt corrective action
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208.40 Authority, purpose, scope,
other supervisory
authority, and disclosure of capital categories
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208.41 Definitions for purposes of
this subpart
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208.42 Notice of capital category
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208.43 Capital measures and capital
category definitions
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208.44 Capital restoration plans
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208.45 Mandatory and discretionary
supervisory actions
under section 38
Subpart
E - Real estate lending and appraisal standards
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208.50 Authority, purpose, and scope
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208.51 Real estate lending standards
Subpart
F - Miscellaneous requirements
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208.60 Authority, purpose, and scope
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208.61 Bank security procedures
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208.62 Suspicious activity reports
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208.63 Procedures for monitoring Bank
Secrecy Act
compliance
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208.64 Frequency of examination
Subpart
G - Financial subsidiaries of state member banks
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208.71 What are the requirements to
invest in or control
a financial subsidiary?
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208.72 What activities may a financial
subsidiary conduct?
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208.73 What additional provisions
are applicable to state
member banks with financial subsidiaries?
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208.74 What happens if the state member
bank or a
depository institution affiliate fails to continue
to meet certain requirements?
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208.75 What happens if the state member
bank or any
of its insured depository institution affiliates
receives less than a "satisfactory'' CRA rating?
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208.76 What Federal Reserve approvals
are necessary
for financial subsidiaries?
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208.77 Definitions
Subpart
H - Consumer protection in sales of insurance
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208.81 Purpose and scope
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208.82 Definitions for purposes
of this subpart
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208.83 Prohibited practices
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208.84 What you must disclose
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208.85 Where insurance activities
may take place
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208.86 Qualification and licensing
requirements for
insurance sales personnel
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Appendix A to Subpart H
Subpart
I - Interpretations
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208.100 Sale of bank's money orders
off premises as
establishment of branch office
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208.101 Obligations concerning institutional
customers
Appendices
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App A Capital adequacy guidelines
for state member
banks: risk-based measure
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App B Capital adequacy guidelines
for state member
banks: Tier 1 leverage measure
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App C Interagency guidelines
for real estate Lending
Policies
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App D-1 Interagency guidelines
establishing
Standards for
safety and soundness
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App D-2 Interagency guidelines
establishing
Information
security standards
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App E Capital adequacy guidelines
for state member
banks; market risk measure
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