12 CFR 16.1 – Authority, purpose, and scope
Current as of: 2024 | Check for updates
|
Other versions
(a) Authority. This part is issued under the rulemaking authority of the Comptroller of the Currency (OCC) for national banks in 12 U.S.C. 1 et seq., and 93a, and for Federal savings associations in 12 U.S.C. § 1462a, 1463, 1464, and 5412(b)(2)(B).
Terms Used In 12 CFR 16.1
- 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 sets forth rules governing the offer and sale of securities issued by a national bank or Federal savings association.
(c) Scope. This part applies to offers and sales of national bank or Federal savings association securities by issuers, underwriters, and dealers.