12 CFR 5.34 - Operating subsidiaries of a national bank
| Cite as | 12 CFR 5.34 |
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82 practice notes
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Integration of National Bank and Federal Savings Association Regulations: Licensing Rules
...(Sec. 5.34) The proposal would make a number of changes to the provisions governing operating subsidiaries of national banks set forth at 12 CFR 5.34. Some of these changes would incorporate elements of the Federal savings association operating subsidiary regulations currently contained in ......
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Mandatory Contractual Stay Requirements for Qualified Financial Contracts
...sponsored funds, and joint ventures. --------------------------------------------------------------------------- \33\ See 12 U.S.C. 29; 12 CFR 5.34; and 12 U.S.C. 1464 (FSA DPC \34\ National banks may own or make controlling or minority investments in SBICs as defined under 13 CFR 107.50, C......
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National banks:
Authority provided by American Homeownership and Economic Opportunity Act, and other miscellaneous amendments,
...regarding the new subsidiary's activities that would be required if the applicant were establishing a new subsidiary under either 12 CFR 5.34 (which addresses operating subsidiaries) or 12 CFR 5.39 (which addresses financial subsidiaries). The current rule contains an exception if the subsi......
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Integration of National Bank and Federal Savings Association Regulations: Licensing Rules
...(Sec. 5.34) The proposal included a number of changes to the provisions governing operating subsidiaries of national banks set forth at 12 CFR 5.34. Some of these changes incorporated elements of the Federal savings association operating subsidiary regulations currently contained in 12 CFR ......
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31 cases
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Wachovia Bank, N.A. v. Burke, Docket No. 04-3770-CV.
...§ 484. The OCC, meanwhile, has issued regulations allowing national banks to conduct business through an operating subsidiary, see 12 C.F.R. § 5.34(e), and providing that "State laws apply to national bank operating subsidiaries to the same extent that those laws apply to the parent nationa......
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Wells Fargo Bank N.A. v. Boutris, No. 03-16194.
...so long as the operating subsidiary form of organization cannot be used to evade the rules that apply to national banks. Under 12 C.F.R. § 5.34, the rule governing operating subsidiaries, such evasion is not permitted. See 12 C.F.R. § 5.34(e)(1) (providing that "[a] national bank may conduc......
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Association of Banks in Ins., Inc. v. Duryee, No. C-2-98-1120.
...of the Huntington Mortgage Company. Plaintiffs note that although federal law permits national banks to act through a subsidiary, see 12 C.F.R. § 5.34(d), § 92 does not require national banks to act through subsidiaries. Even assuming that the defendants' suggestion is accurate, it would se......
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Watters v. Wachovia Bank, N.A., No. 05-1342.
...solely in activities the bank itself could undertake, and subject to the same terms and conditions as the bank. See § 24a(g)(3)(A); 12 CFR § 5.34(e). Respondent Wachovia Bank is an OCC-chartered national banking association that conducts its real estate lending business through respondent [......
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3 firm's commentaries
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Debt Previously Contracted ('DPC') Investments: Equity By Accident Or Safe And Sound M&A For Lenders?
...(bank permitted to establish operating subsidiary through which it would become minority member of limited liability company). 15 12 C.F.R. § 5.34(e)(2)(B). 16 See generally, OCC, Comptroller's Licensing Manual, "Subsidiaries and Equity Investments," p.2 (Oct. 2017). See also 12 C.F.R. § Th......
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Commissioner Of Corporation’s Authority To Audit Is Preempted By Federal Law
...estate lending licensing requirements as applied to operating subsidiaries of national banks were “field-preempted” by OCC regulation 12 C.F.R. § 5.34: “A state’s attempt to require advanced licensing before an operating subsidiary may engage in the activities covered by the Bank Act, inclu......
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Financial Services Alert
...subsidiary or commencing the activity (if the activity or activities are included in the broad list of permissible activities contained in 12 CFR 5.34 (e)(5)(v)). Accordingly, a Federal branch or agency can take a comparable action if it is well capitalized and well managed (using ROCA Stan......
1 forms
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Interagency Bank Merger Act Application
...provide the information and analysis of the subsidiary's activities that would be required if it were established pursuant to 12 C.F.R. § 5.34 or FDIC 6220/01 (7-21) OMB No. for FDIC 3064-0015; Expiration Date: 07/31/2024 OMB No. for Federal Reserve 7100-0171; Expiration Date: 05/31/2024 OM......