republic-os/legal/us/code/title-12/chapter-3/section-371b-2.md

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LegalText	12 U.S.C. § 371b–2	Interbank liabilities	us	united_states_code	code_section	12	BANKS AND BANKING	3	FEDERAL RESERVE SYSTEM	371b–2	12 U.S.C. § 371b–2	current	119-100	2026-06-26	official	https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip	/us/usc/t12/s371b–2	data/legal/raw/us/code/title-12/usc12.xml	c8fa0cce489327e9793736fbb4d264c48694783daa1499f1253cd60cb9ce67e8	e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa	a7c9f4d77acd84b692c99cdb217a70d072510498c5f33f546c424b3f405435e4	2026-07-04	official	legal us-code

12 U.S.C. § 371b–2 - Interbank liabilities

Text

(a) Purpose The purpose of this section is to limit the risks that the failure of a large depository institution (whether or not that institution is an insured depository institution) would pose to insured depository institutions.

(b) Aggregate limits on insured depository institutions’ exposure to other depository institutions The Board shall, by regulation or order, prescribe standards that have the effect of limiting the risks posed by an insured depository institution’s exposure to any other depository institution.

(c) “Exposure” defined (1) In general For purposes of subsection (b), an insured depository institution’s “exposure” to another depository institution means—

(A) all extensions of credit to the other depository institution, regardless of name or description, including—

(i) all deposits at the other depository institution;

(ii) all purchases of securities or other assets from the other depository institution subject to an agreement to repurchase; and

(iii) all guarantees, acceptances, or letters of credit (including endorsements or standby letters of credit) on behalf of the other depository institution;

(B) all purchases of or investments in securities issued by the other depository institution;

(C) all securities issued by the other depository institution accepted as collateral for an extension of credit to any person; and

(D) all similar transactions that the Board by regulation determines to be exposure for purposes of this section.

(2) Exemptions The Board may, at its discretion, by regulation or order, exempt transactions from the definition of “exposure” if it finds the exemptions to be in the public interest and consistent with the purpose of this section.

(3) Attribution rule For purposes of this section, any transaction by an insured depository institution with any person is a transaction with another depository institution to the extent that the proceeds of the transaction are used for the benefit of, or transferred to, that other depository institution.

(d) Insured depository institution For purposes of this section, the term “insured depository institution” has the same meaning as in section 1813 of this title.

(e) Rulemaking authority; enforcement The Board may issue such regulations and orders, including definitions consistent with this section, as may be necessary to administer and carry out the purpose of this section. The appropriate Federal banking agency shall enforce compliance with those regulations under section 1818 of this title.

(Dec. 23, 1913, ch. 6, § 23, as added Pub. L. 102–242, title III, § 308(a), Dec. 19, 1991, 105 Stat. 2362.)

Notes

Statutory Notes and Related Subsidiaries

Effective DatePub. L. 102–242, title III, § 308(c), Dec. 19, 1991, 105 Stat. 2363, provided that: “The amendment made by this section [enacting this section] shall become effective 1 year after the date of enactment of this Act [Dec. 19, 1991].”

RegulationsPub. L. 102–242, title III, § 308(b), Dec. 19, 1991, 105 Stat. 2362, provided that: “The Board shall prescribe reasonable transition rules to facilitate compliance with section 23 of the Federal Reserve Act [12 U.S.C. 371b–2] (as added by subsection (a)).”