§ 252.131 - Applicability.

§ 252.131 Applicability.

Cross Reference

Link to an amendment published at 84 FR 59109, Nov. 1, 2019.

(a) General applicability. Subject to the initial applicability provisions of paragraph (c) of this section, a A foreign banking organization with average total consolidated assets of at least $10 $50 billion but less than $50 billion and any class of stock (or similar interest) that is publicly traded $100 billion must comply with the risk-committee requirements set forth in this subpart beginning on the first day of the ninth quarter following the later of the date on which its average total consolidated assets equal or exceed $10 billion and the date on which any class of its stock (or similar interest) becomes publicly traded.

(b) Total consolidated assets. For purposes of this subpart, total consolidated assets of a foreign banking organization for purposes of this subpart are equal to the average of the total assets for the two most recent periods as reported by the foreign banking organization on the FR Y-7. Total consolidated assets are measured on the as-of date of the most recent FR Y-7 used in the calculation of the average.

(c) Initial applicability. A foreign banking organization that, as of June 30, 2015, has total consolidated assets of $10 billion or more and has a class of stock (or similar interest) that is publicly traded must comply with the risk-committee requirements of this section beginning on July 1, 2016.

(d)

$50 billion.

(b) Cessation of requirements. A foreign banking organization will remain subject to the risk-committee requirements of this section until the earlier of the date on which:

(

i

1)

its reported

Its total consolidated assets

on the FR Y-7

are below

$10

$50 billion for each of four consecutive calendar quarters; and

(

ii

2)

it

It becomes subject to the requirements of subpart N or subpart O of this part

; and (iii) it ceases to have a class of stock (or similar interest) that is publicly traded.

.

[84 FR 59109, Nov. 1, 2019]