Page:United States Statutes at Large Volume 113 Part 2.djvu/350

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113 STAT. 1370 PUBLIC LAW 106-102—NOV. 12, 1999 (2) REVIEW.— The Comptroller of the Currency shall regularly— (A) review all restrictions or requirements established •- pursuant to paragraph (1) to determine whether there is • ' a continuing need for any such restriction or requirement to carry out the purposes of the Act, including the avoidsmce

-. of any adverse effect referred to in paragraph (1)(B); and

(B) modify or eliminate any such restriction or requirement the Comptroller finds is no longer required for such purposes. (b) BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM.— (1) IN GENERAL.— The Board of Governors of the Federal Reserve System may, by regulation or order, impose restrictions or requirements on relationships or transactions— ' (A) between a depository institution subsidiary of a bank holding company suid any affiliate of such depository - It- institution (other than a subsidiary of such institution); or (B) between a State member bank and a subsidiary of such bank; if the Board makes a finding described in paragraph (2) with respect to such restriction or requirement. (2) FINDING.— The Board of Governors of the Federal Reserve System may exercise authority under paragraph (1) if the Board finds that the exercise of such authority is— (A) consistent with the purposes of this Act, the Bank , Holding Company Act of 1956, the Federal Reserve Act, ' and other Federal law applicable to depository institution ,^f., ^ subsidiaries of bgink holding companies or State member '*' * banks, as the case may be; and ,.,, (B) appropriate to prevent an evasion of any provision of law referred to in subparagraph (A) or to avoid any significant risk to the safety and soundness of depository institutions or any Federal deposit insurance fund or other adverse effects, such as undue concentration of resources, decreased or unfair competition, conflicts of interests, or unsound banking practices. (3) REVIEW.— The Board of Governors of the Federal Reserve System shall regularly— (A) review all restrictions or requirements established pursuant to paragraph (1) or (4) to determine whether there is a continuing need for any such restriction or requirement to carry out the purposes of the Act, including the avoidance of any adverse effect referred to in paragraph (2)(B)or(4)(B);and (B) modify or eliminate any such restriction or requirement the Board finds is no longer required for such purposes. (4) FOREIGN BANKS.— The Board may, by regulation or order, impose restrictions or requirements on relationships or transactions between a branch, agency, or commercial lending company of a foreign bank in the United States and any affiliate in the United States of such foreign bank that the Board finds are— (A) consistent with the purposes of this Act, the Bank Holding Company Act of 1956, the Federal Reserve Act, li.