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e-CFR data is current as of July 6, 2020

Title 12Chapter IISubchapter APart 212 → §212.1


Title 12: Banks and Banking
PART 212—MANAGEMENT OFFICIAL INTERLOCKS


§212.1   Authority, purpose, and scope.

(a) Authority. This part is issued under the provisions of the Depository Institution Management Interlocks Act (Interlocks Act) (12 U.S.C. 3201 et seq.), as amended.

(b) Purpose. The purpose of the Interlocks Act and this part is to foster competition by generally prohibiting a management official from serving two nonaffiliated depository organizations in situations where the management interlock likely would have an anticompetitive effect.

(c) Scope. This part applies to management officials of state member banks, bank holding companies, and their affiliates.

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