[Code of Federal Regulations]
[Title 12, Volume 2]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 12CFR211.31]

[Page 382]
 
                       TITLE 12--BANKS AND BANKING
 
                   CHAPTER II--FEDERAL RESERVE SYSTEM
 
PART 211--INTERNATIONAL BANKING OPERATIONS (REGULATION K)--Table of Contents
 
                   Subpart C--Export Trading Companies
 
Sec. 211.31  Authority, purpose, and scope.

    Source: 66 FR 54374, Oct. 26, 2001, unless otherwise noted.


    (a) Authority. This subpart is issued by the Board of Governors of 
the Federal Reserve System (Board) under the authority of the Bank 
Holding Company Act of 1956 (BHC Act) (12 U.S.C. 1841 et seq.), the Bank 
Export Services Act (title II, Pub. L. 97-290, 96 Stat. 1235 (1982)) 
(BESA), and the Export Trading Company Act Amendments of 1988 (title 
III, Pub. L. 100-418, 102 Stat. 1384 (1988)) (ETC Act Amendments).
    (b) Purpose and scope. This subpart is in furtherance of the 
purposes of the BHC Act, the BESA, and the ETC Act Amendments, the 
latter two statutes being designed to increase U.S. exports by 
encouraging investments and participation in export trading companies by 
bank holding companies and the specified investors. The provisions of 
this subpart apply to eligible investors as defined in this subpart.