12 C.F.R. § 207.1

Purpose and scope of this part

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(a) General. This part implements section 711 of the Gramm-Leach-Bliley Act (12 U.S.C. 1831y). That section requires any nongovernmental entity or person, insured depository institution, or affiliate of an insured depository institution that enters into a covered agreement to—

(1) Make the covered agreement available to the public and the appropriate Federal banking agency; and

(2) File an annual report with the appropriate Federal banking agency concerning the covered agreement.

(b) Scope of this part. The provisions of this part apply to—

(1) State member banks and their subsidiaries;

(2) Bank holding companies;

(3) Savings and loan holding companies;

(4) Affiliates of bank holding companies and savings and loan holding companies, other than banks, savings associations and subsidiaries of banks and savings associations; and

(5) Nongovernmental entities or persons that enter into covered agreements with any company listed in paragraph (b)(1) through (4) of this section.

(c) Relation to Community Reinvestment Act. This part does not affect in any way the Community Reinvestment Act of 1977 (12 U.S.C. 2901 et seq.), the Board's Regulation BB (12 CFR part 228), or the Board's interpretations or administration of that Act or regulation.

(d) Examples. (1) The examples in this part are not exclusive. Compliance with an example, to the extent applicable, constitutes compliance with this part.

(2) Examples in a paragraph illustrate only the issue described in the paragraph and do not illustrate any other issues that may arise in this part.

[Reg. G, 66 FR 2092, Jan. 10, 2001, as amended at 76 FR 56530, Sept. 13, 2011]

Notes of Decisions

Cited in 4 cases, 1969–1984 · leading case: Transcontinental Leasing, Inc., & Hussein Z. Keilani, Cross-Appellants v. Michigan Nat'l Bank of Detroit, Cross-Appellee, 738 F.2d 163 (6th Cir. 1984).

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Transcontinental Leasing, Inc., & Hussein Z. Keilani, Cross-Appellants v. Michigan Nat'l Bank of Detroit, Cross-Appellee, 738 F.2d 163 (6th Cir. 1984). · cites it 2× “Keilani’s first complaint alleged that the entire series of loan agreements should be rescinded because of MNB’s failure to follow the collateral registration requirements set forth in 12 C.F.R. § 207.1 (a), which was promulgated under § 7 of the Securities and Exchange Act of…”

Metro-Goldwyn-Mayer, Inc. v. Transamerica Corp., 303 F. Supp. 1354 (S.D.N.Y. 1969). · cites it 2× “5 * * * or as determined by the lender in good faith for any collateral other than registered equity securities * * 12 C.F.R. § 207.1 (c). “Purpose credit” is defined as: “Credit which is for the purpose, whether immediate, incidental or ultimate, purchasing or carrying a…”

United States v. Weisscredit Banca Commercials E D'Investimenti, 325 F. Supp. 1384 (S.D.N.Y. 1971). “At the period relevant to this indictment, the titles of the three sets of regulations were as follows: (1) Regulation G- “Credit by Persons Other than Banks, Brokers, or Dealers For Purpose of Purchasing or Carrying Registered Equity Securities” ( 12 CFR § 207.1 and following);…”

Caldwell v. Genesco Employees Credit Ass'n, 393 F. Supp. 741 (M.D. Tenn. 1975). · cites it 5× “This is an action to declare void a loan and recover damages allegedly resulting from a violation of the margin requirements of Regulation G, 12 C.F.R. § 207.1 , et seq., as promulgated by the Board of Governors of the Federal Reserve System pursuant to Section 7 of the…”

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