Notwithstanding any other provision of law, the provisions of-
shall also limit whatever authority that a Federal banking agency might otherwise have under any statute or regulation to require reports, make examinations, impose capital requirements, or take any other direct or indirect action with respect to any functionally regulated affiliate of a depository institution, subject to the same standards and requirements as are applicable to the Board under those provisions.
No provision of this section shall be construed as preventing the Corporation, if the Corporation finds it necessary to determine the condition of a depository institution for insurance purposes, from examining an affiliate of any depository institution, pursuant to section 1820(b)(4) of this title, as may be necessary to disclose fully the relationship between the depository institution and the affiliate, and the effect of such relationship on the depository institution.
For purposes of this section, the following definitions shall apply:
The term "functionally regulated subsidiary" has the meaning given the term in section 1844(c)(5) of this title.
The term "functionally regulated affiliate" means, with respect to any depository institution, any affiliate of such depository institution that is-
1 See References in Text note below.
12 U.S.C. § 1831v
EDITORIAL NOTES
REFERENCES IN TEXTSection 1848a of this title, referred to in subsec. (a)(3), was repealed by Pub. L. 111-203, title VI, §604(c)(2), July 21, 2010, 124 Stat. 1601.
STATUTORY NOTES AND RELATED SUBSIDIARIES
EFFECTIVE DATESection effective 120 days after Nov. 12, 1999, see section 161 of Pub. L. 106-102 set out as an Effective Date of 1999 Amendment note under section 24 of this title.
- Federal banking agency
- The term "Federal banking agency" means the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, or the Federal Deposit Insurance Corporation.1 So in original. Probably should be followed by "and".2 See References in Text note below.
- affiliate
- The term "affiliate" means any person that controls, is controlled by, or is under common control with another person.
- depository institution holding company
- The term "depository institution holding company" means a bank holding company or a savings and loan holding company.
- depository institution
- The term "depository institution" means any bank or savings association.