12 CFR 46.1 – Authority and purpose
Current as of: 2024 | Check for updates
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(a) Authority. 12 U.S.C. § 93a; 12 U.S.C. § 1463(a)(2); 12 U.S.C. § 5365(i)(2); 12 U.S.C. § 5412(b)(2)(B).
Terms Used In 12 CFR 46.1
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
(b) Purpose. This part implements 12 U.S.C. § 5365(i)(2), which requires a national bank or Federal savings association with total consolidated assets of more than $10 billion to conduct an annual stress test and establishes a definition of stress test, methodologies for conducting stress tests, and reporting and disclosure requirements.