[Code of Federal Regulations]
[Title 12, Volume 2, Parts 200 to 219]
[Revised as of January 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 12CFR208.1]

[Page 163]
 
                       TITLE 12--BANKS AND BANKING
 
                   CHAPTER II--FEDERAL RESERVE SYSTEM
 
PART 208--MEMBERSHIP OF STATE BANKING INSTITUTIONS IN THE FEDERAL RESERVE SYSTEM (REGULATION H)--Table of Contents
 
        Subpart A--General Membership and Branching Requirements
 
Sec. 208.1  Authority, purpose, and scope.

    Source:  63 FR 37637, July 13, 1998, unless otherwise noted.


    (a) Authority. Subpart A of Regulation H (12 CFR part 208, Subpart 
A) is issued by the Board of Governors of the Federal Reserve System 
(Board) under 12 U.S.C. 24, 36; sections 9, 11, 21, 25 and 25A of the 
Federal Reserve Act (12 U.S.C. 321-338a, 248(a), 248(c), 481-486, 601 
and 611); sections 1814, 1816, 1818, 1831o, 1831p-1, 1831r-1 and 1835a 
of the Federal Deposit Insurance Act (FDI Act) (12 U.S.C. 1814, 1816, 
1818, 1831o, 1831p-1, 1831r-1, and 1835); and 12 U.S.C. 3906-3909.
    (b) Purpose and scope of Part 208. The requirements of this part 208 
govern State member banks and state banks applying for admission to 
membership in the Federal Reserve System (System) under section 9 of the 
Federal Reserve Act (Act), except for Sec. 208.7, which also applies to 
certain foreign banks licensed by a State. This part 208 does not govern 
banks eligible for membership under section 2 or 19 of the Act.\1\ Any 
bank desiring to be admitted to the System under the provisions of 
section 2 or 19 should communicate with the Federal Reserve Bank with 
which it would like to become a member.
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    \1\ Under section 2 of the Federal Reserve Act, every national bank 
in any state shall, upon commencing business, or within 90 days after 
admission into the Union of the State in which it is located, become a 
member of the System. Under section 19 of the Federal Reserve Act, 
national banks and banks organized under local laws, located in a 
dependency or insular possession or any part of the United States 
outside of the States of the United States and the District of Columbia, 
are not required to become members of the System but may, with the 
consent of the board, become members of the System.
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    (c) Purpose and scope of Subpart A. This Subpart A describes the 
eligibility requirements for membership of state-chartered banking 
institutions in the System, the general conditions imposed upon members, 
including capital and dividend requirements, as well as the requirements 
for establishing and maintaining branches.