Transactions With Affiliates; Reverse Repurchase Agreements
other · Treasury · Rule · Published 1998-08-13 · Effective 1998-10-01 · 63 FR 43292
Document
Document number
98-21756
Federal Register citation
63 FR 43292
CFR reference
12 CFR 563
Type
Rule
Action
Final rule.
Category
other
Sub-agency
Treasury
Publication date
1998-08-13
Effective date
1998-10-01
Treasury docket
No. 98-76
Abstract
The Office of Thrift Supervision (OTS) is issuing a final rule to revise its regulations on transactions with affiliates. The final rule clarifies that OTS will treat reverse repurchase agreements, with one limited exception, as loans or other extensions of credit for the purposes of section 11(a)(1)(A) of the Home Owners' Loan Act (HOLA). Therefore, a savings association generally may not enter into a reverse repurchase agreement with an affiliate that is engaged in non-bank- holding company activities.