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Federal R eserve Bank OF DALLAS ROBERT D. M c T E E R , J R . PRESIDENT DALLAS, TEXAS AND CHIEF EXECUTIV E O F F IC E R 75265-5906 November 18, 1994 Notice 94-112 TO: The Chief Executive Officer of each financial institution in the Eleventh Federal Reserve District SUBJECT Amendments to Regulations A, H, Y, and Z DETAILS The Board of Governors of the Federal Reserve System has published amendments in slip-sheet form to Regu lation A (Extensions of Credit by Federal Reserve Banks), effective October 1994, Regulation H (Membership of State Banking Institutions in the Federal Reserve System), effective September 1994, Regulation Y (Bank Holding Companies and Change in Bank Control), effective September 1994, and Regulation Z (Truth in Lending), effective October 1994. The new slip sheets should be inserted in your Regulations binder. For additional copies, bankers and others are encouraged to use one of the following toll-free num bers in contacting the Federal Reserve Bank of Dallas: Dallas Office (800) 333-4460; El Paso Branch Intrastate (800) 592-1631, Interstate (800) 351-1012; H ouston Branch Intrastate (800) 392-4162, Interstate (800) 221-0363; San Antonio Branch Intrastate (800) 292-5810. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) ENCLOSURES The new slip sheets are enclosed. MORE INFORMATION For more information regarding Regulation A, please contact the Discount and Credit Department at (214) 922-5333. For more information regarding Regulation H, please contact Dean Pankonien at (214) 922-6154 or Lynn Black at (214) 922-6069. For more information regarding Regulation Y, please contact Lynn Black at (214) 922-6069, Michael Johnson at (214) 922-6081, or Daniel Kirkland at (214) 922-6256. For more information regarding Regulation Z, please contact Eugene Coy at (214) 922-6201. For additional copies of this Bank’s notice and the slip sheets, please contact the Public Affairs Department at (214) 922-5254. Sincerely yours, Jd- Board of Governors of the Federal Reserve System ^ Amendments to Regulation A Extensions of Credit by Federal Reserve Banks October 1994* 1. Effective August 18, 1994, section 201.51 has been amended to read as follows: SECTION 201.51— Adjustment Credit for Depository Institutions The rates for adjustment credit provided to depository institutions under section 201.3(a) are: Federal Reserve Bank Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco Rate 4 4 4 4 4 4 4 4 4 4 4 4 Effective August August August August August August August August August August August August 16, 16, 18, 17, 16, 18, 16, 16, 18, 16, 16, 17, 1994 1994 1994 1994 1994 1994 1994 1994 1994 1994 1994 1994 * A com plete Regulation A , as am ended effective A ugust 18, 1994, consists of— • the regulation pam phlet dated M ay 1994 (see inside front cover) and • this slip sheet. 2. Effective June 2, 1994, section 201.52 has been amended to read as follows: SECTION 201.52— Extended Credit for Depository Institutions (a) Seasonal credit. The rate for seasonal credit extended to depository institutions under section 201.3(b) is a flexible rate that takes into account rates on market sources of funds, but in no case will the rate charged be less than the rate for ad justm ent credit as set out in section 201.51. (b) Extended credit. For extended credit to depository institutions under section 201.3(c), for credit outstanding for more than 30 days, a flexible rate will be charged that takes into account rates on market sources of funds, but in no case will the rate charged be less than the rate for adjustment credit, as set out in section 201.51, plus one-half percentage point. At the discretion of the Federal Reserve Bank, this time period may be shortened, and the rate may be the discount rate ap plicable to adjustment credit. 1 Board of Governors of the Federal Reserve System Amendments to Regulation H Membership of State Banking Institutions in the Federal Reserve System September 1994* 1. Effective October 8, 1993, a new section 208.20 is added, as follows: SECTION 208.20—Reports of Crimes and Suspected Crimes (a) Purpose. This section applies to known or suspected crimes involving state member banks. This section ensures that law enforcement agencies are notified by means of criminal referral reports when unexplained losses or known or suspected criminal acts are discovered. Based on these reports, the federal government will take appropriate measures and will main tain an interagency database that is de rived from these reports. (b) Institution-affiliated party. Institutionaffiliated party means any institution-affil iated party as that term is defined in sec tions 3(u) and 8(b)(3) and (4) of the FD1A (12 USC 1813(u) and 1818(b)(3) and (4)). (c) Reports required. A state member bank shall file a criminal referral report using a standardized form (Form),14 in ac cordance with instructions for the Form, in every situation where— (1) the state member bank suspects one of its directors, officers, employees, agents, or other institution-affiliated parties of having committed or aided in the commission of a crime; 14 C opies o f the Form (FR 2230) are available from the Federal Reserve Banks. The Form may be pre pared using a com puter shell that is distributed by the Board. * A com plete Regulation H. as am ended effective July 5, 1994, consists of— • the regulation pam phlet dated M arch 1993 (see inside cover) and • this slip sheet. Item 2 is new . Item 1 w as included in the N ovem ber 1993 slip sheet. (2) there is an actual or potential loss to the state member bank (before reim bursement or recovery) of more than $1,000 where the state member bank has a substantial basis for identifying a possible suspect or group of suspects and the suspect(s) is not a director, of ficer, employer, agent, or institution-af filiated party of the state member bank; (3) there is an actual or potential loss to the state member bank (before reim bursement or recovery) of $5,000 or more and where the state member bank has no substantial basis for identifying a possible suspect or group of suspects; or (4) the state member bank suspects that it is being used as a conduit for crimi nal activity, such as money launder ing or structuring transactions to evade the Bank Secrecy Act reporting requirements. (d) Time fo r reporting. (1) A state member bank shall file the report required by paragraph (c) of this section no later than 30 calendar days after the date of detection of the loss or the known or suspected criminal viola tion or activity. If no suspect has been identified within 30 calendar days after the date of the detection of the loss or the known, attempted, or suspected criminal violation or activity, reporting may be delayed an additional 30 calen dar days or until a suspect has been identified; but in no case shall reporting of known or suspected crim es be delayed more than 60 calendar days af ter the date of the detection of the loss or the known, attempted, or suspected criminal violation or activity. When a report requirement is triggered by the identification of a suspect or group of suspects, the reporting period com1 Regulation H mences with the identification of each suspect or group of suspects. (2) When a state member bank detects a pattern of crimes committed by an identifiable individual, the state member bank shall file a report no later than 30 calendar days after the aggregated amount of the crimes exceeds $1,000. (3) In situations involving violations requiring immediate attention or where a reportable violation is ongoing, the state member bank shall immediately notify by telephone the appropriate law enforcement agency and the appropriate Federal Reserve Bank in addition to fil ing a timely written report. (e) Reporting to state and local authori ties. State member banks are encouraged to file copies of the Form with state and local authorities where appropriate. (f) Exceptions. A state member bank need not file the Form— (1) for those robberies and burglaries that are reported to local law enforce ment authorities; and (2) for lost, missing, counterfeit, or sto len securities if a report is filed pursu ant to the reporting requirements of 17 CFR 240.17f-1. (g) Retention o f records. A state member bank shall maintain copies of any Form that it filed and the originals of all related documents for a period of 10 years from the date of the report. (h) Notification to board o f directors. The management of a state member bank shall promptly notify its board of directors of any report filed pursuant to this section. (i) Penalty. Failure to file a report in ac cordance with the instructions on the Form and this regulation may subject the state member bank, its directors, officers, employees, agents, or other institution-af filiated parties to supervisory action. 2. Effective July 5, 1994, section 208.21 is reserved and a new section 208.22 is added, as follows: SECTION 208.21 [Reserved] SECTION 208.22— Investment in Bank Premises (a) Under section 24A of the Federal Re serve Act, state member bank investments in bank premises or in the stock, bonds, debentures, or other such obligations of any corporation holding the premises of the bank, and loans on the security of the stock of such corporation, do not require the approval of the Board if the aggregate of all such investments and loans, to gether with the indebtedness incurred by any such corporation that is an affiliate of the bank (as defined in section 2 of the Banking Act of 1933, as amended, 12 USC 221a)— (1) does not exceed the capital stock amount of the bank; or (2) does not exceed 50 percent of the bank’s tier 1 capital and the bank— (i) is well capitalized as defined in section 208.33(b)(1) of this part; (ii) received a composite CAMEL rating of 1 or 2 as of its most recent examination by the relevant Federal Reserve Bank or state regulatory au thority; and (iii) is not subject to any written agreement, cease-and-desist order, capital directive, or prompt corrective-action directive issued by the Board or a Federal Reserve Bank. Board of Governors of the Federal Reserve System Amendments to Regulation Y Bank Holding Companies and Change in Bank Control September 1994* 1. Effective May 4, 1994, the first sentence o f section 225.4(b)(1) is amended to read as follows: (1) Filing notice. Except as provided in paragraph (b)(6) of this section, a bank holding company shall give the Board prior written notice before purchasing or redeeming its equity securities if the gross consideration * * * 2. Effective May 4, 1994, section 225.4(b) is amended by adding a new paragraph (6) as follows: (6) Exception fo r well-capitalized bank holding companies. A bank holding com pany seeking to redeem or purchase its equity securities is not required to obtain prior Board approval for the redemption or purchase under this section provided— (i) the total and tier 1 risk-based capi tal ratios and the leverage capital ratio for the bank holding company, both before and following the redemption, exceed the thresholds established for “ well-capitalized” state member banks under 12 CFR 208.33(b)(1) as if the bank holding company (on a consoli dated basis) were deemed to be a state member bank; (ii) the bank holding company received a composite 1 or 2 rating at its most recent BOPEC inspection; and (iii) the bank holding company is not the subject of any unresolved supervi sory issues. * A com plete R egulation Y , as revised effective Septem ber 2, 1994, consists of— • the regulation pam phlet dated M arch 1993 (see inside cover) and • this slip sheet. Items 1-4 and 6-10 are new. Item 5 was included in the N ovem ber 1993 slip sheet. 3. Effective October 8, 1993, section 225.4 is amended by adding a new subsection (g). Effective September 2, 1994, section 225.4(d) is deleted, and paragraphs (e), (f), and (g) are redesignated as (d), (e), and (f). The redesignated paragraph (f) reads as follows: (f) Criminal referral report. A bank hold ing company or any nonbank subsidiary thereof, or a foreign bank that is subject to the BHC Act or any nonbank subsidi ary of such foreign bank operating in the United States, shall file a criminal referral form in accordance with the provisions of section 208.20 of the Board’s Regulation H, 12 CFR 208.20. 4. Effective September 2, 1994, section 225.7 is added as follows: SECTION 225.7— Tying Restrictions (a) Applicability to nonbanks. A bank holding company and any nonbanking subsidiary conducting an activity author ized under section 225.23 of this regula tion may not in any manner extend credit, lease or sell property of any kind, provide any service, or fix or vary the considera tion for any of these transactions subject to any condition or requirement that, if imposed by a bank, would constitute an unlawful tie-in arrangement under section 106 of the Bank Holding Company Act Amendments of 1970 (12 USC 1971, 1972(1)). (b) Exceptions. Subject to the limitations of paragraph (c), the Board has adopted the following exceptions to the anti-tying restrictions of section 106 of the Bank Holding Company Act Amendments of 1970 and paragraph (a) of this section. 1 Regulation Y (1) Traditional bank products. A bank holding company or any bank or non bank subsidiary thereof may vary the consideration charged for a traditional bank product on the condition or re quirement that a customer also obtain a traditional bank product from an affiliate. (2) Securities brokerage services. A bank holding company or any bank or nonbank subsidiary thereof may vary the consideration charged for securities brokerage services on the condition or requirement that a customer also obtain a traditional bank product from that bank holding company or bank or non bank subsidiary, or from any affiliate of such company or subsidiary. (c) Limitations on exceptions. (1) The exceptions of this section shall apply only if all products involved in the tying arrangement are separately available for purchase. (2) Any exception granted pursuant to this section shall terminate upon a find ing by the Board that the arrangement is resulting in anticompetitive practices. (d) Definitions. For purposes of this section— (1) Traditional bank product means a loan, discount, deposit, or trust service. (2) Affiliate has the meaning given such term in section 2(k) of the Bank H olding Com pany Act (12 USC 1841(k)). (3) Securities brokerage services means those activities authorized by the Board pursuant to section 225.25(b)(15) of Regulation Y (12 CFR 225.25(b)(15)). 5. E ffective January 28, 1993, section 225.11(f) is amended to read as follows: (f) Transactions by foreign banking or ganization. Any transaction described in paragraphs (a) through (e) of this section by a foreign banking organization (as de fined in 12 CFR 211.21(n)) that involves the acquisition of an interest in a U.S. bank or in a bank holding company for which application would be required if the foreign banking organization were a bank holding company. 6. Effective June 7, 1994, section 225.62 is amended by redesignating subsections (d) through (f) as (e) through (g) and adding a new subsection (d), and redesignating subsections (g) through (k) as (i) through (m) and adding a new subsection (h), as follows: (d) Business loan means a loan or exten sion of credit to any corporation, general or limited partnership, business trust, joint venture, pool, syndicate, sole proprietor ship, or other business entity. * * * * * (h) Real estate or real property means an identified parcel or tract of land, with im provem ents, and includes easem ents, rights-of-way, undivided or future inter ests, or similar rights in a tract of land, but does not include mineral rights, tim ber rights, growing crops, water rights, or similar interests severable from the land when the transaction does not involve the associated parcel or tract of land. 7. Effective June 7, 1994, section 225.63 is amended by revising the title, revising subsection (a), adding new subsections (b) and (c), and redesignating the old subsec tions (b) and (c) as (d) and (e), as follows: SECTION 225.63— Appraisals Required; Transactions Requiring a State-Certified or -Licensed Appraiser (a) Appraisals required. An appraisal per formed by a state-certified or -licensed appraiser is required for any real es tate-related financial transaction except those in which— (1) the transaction value is $250,000 or less; (2) a lien on real estate has been taken Regulation Y as collateral in an abundance of caution; (3) the transaction is not secured by real estate; (4) a lien on real estate has been taken for purposes other than the real estate’s value; (5) the transaction is a business loan that— (i) has a transaction value of $1 mil lion or less; and (ii) is not dependent on the sale of, or rental income derived from, real estate as the primary source of repayment; (6) a lease of real estate is entered into, unless the lease is the econom ic equivalent of a purchase or sale of the leased real estate; (7) the transaction involves an existing extension of credit at the lending insti tution, provided that— (i) there has been no obvious and material change in market conditions or physical aspects of the property that threatens the adequacy of the in stitution’s real estate collateral pro tection after the transaction, even with the advancement of new mon ies; or (ii) there is no advancement of new monies, other than funds necessary to cover reasonable closing costs; (8) the transaction involves the purchase, sale, investment in, exchange of, or extension of credit secured by, a loan or interest in a loan, pooled loans, or interests in real property, including mortgage-backed securities, and each loan or interest in a loan, pooled loan, or real property interest met Board reg ulatory requirements for appraisals at the time of origination; (9) the transaction is wholly or par tially insured or guaranteed by a United States government agency or United States government-sponsored agency; (10) the transaction either— (i) qualifies for sale to a United States government agency or United States government-sponsored agency; or (ii) involves a residential real estate transaction in which the appraisal conforms to the Federal National Mortgage A ssociation or Federal Home Loan Mortgage Corporation appraisal standards applicable to that category of real estate: (11) the regulated institution is acting in a fiduciary capacity and is not re quired to obtain an appraisal under other law; or (12) the Board determines that the ser vices of an appraiser are not necessary in order to protect federal financial and public-policy interests in real es tate-related financial transactions or to protect the safety and soundness of the institution. (b) Evaluations required. For a transac tion that does not require the services of a state-certified or -licensed appraiser under paragraphs (a)(1), (a)(5), or (a)(7) of this section, the institution shall obtain an ap propriate evaluation of real property col lateral that is consistent with safe and sound banking practices. (c) A ppraisals to address safety-andsoundness concerns. The Board reserves the right to require an appraisal under this subpart whenever the agency believes it is necessary to address safety-and-soundness concerns. * * * * * 8. Effective June 7, 1994, section 225.64 is amended as follows: SECTION 225.64— Minimum Appraisal Standards For federally related transactions, all ap praisals shall, at a minimum— (a) conform to generally accepted ap praisal standards as evidenced by the Uni form Standards of Professional Appraisal Practice promulgated by the Appraisal Standards Board of the Appraisal Founda tion, 1029 Vermont Ave., N.W., Washing 3 Regulation Y ton, D.C. 20005, unless principles of safe and sound banking require compliance with stricter standards; (b) be written and contain sufficient infor mation and analysis to support the institu tio n ’s decision to engage in the transaction; (c) analyze and report appropriate deduc tions and discounts for proposed construc tion or renovation, partially leased build ings, nonmarket lease terms, and tract developments with unsold units; (d) be based upon the definition of mar ket value as set forth in this subpart; and (e) be performed by state-licensed or -certified appraisers in accordance with re quirements set forth in this subpart. 9. Effective June 7, 1994, section 225.65(b) is amended as follows: (b) Fee appraisers. (1) If an appraisal is prepared by a fee appraiser, the appraiser shall be en gaged directly by the regulated institu tion or its agent, and have no direct or indirect interest, financial or otherwise, in the property or transaction. (2) A regulated institution also may ac cept an appraisal that was prepared by an appraiser engaged directly by an other financial-services institution if— (i) the appraiser has no direct or in direct interest, financial or otherwise, in the property or the transaction; and (ii) the regulated institution deter mines that the appraisal conforms to the requirements of this subpart and is otherwise acceptable. 10. Effective June 7, 1994, appendix A to subpart G, “Uniform Standards o f Profes sional Appraisal Practice," is deleted. Board of Governors of the Federal Reserve System Amendments and Corrections to Regulation Z Truth in Lending October 1994* 1. Section 226.5a(a)(3) is corrected by ad ding the words “o f the type” before the words "subject to the requirements o f sec tion 226.5b". event takes place (for example, that the annual percentage rate will increase a specified amount if the consumer leaves the creditor’s employment). 2. Section 226.5a(g)(2) is corrected by delet ing "and is figured in the same way as the first balance ” from the last sentences o f subparagraphs (i) and (ii). 5. Effective Septem ber 19, 1990, section 226.9(c)(3) is amended to read as follows: 3. E ffective July 29, 1992, section 226.5b(f)(2) is amended by deleting “or" at the end o f paragraph (ii), by deleting the period and adding or" at the end o f paragraph (iii), and by adding a new paragraph (iv) to read as follows: (iv) federal law dealing with credit ex tended by a depository institution to its executive officers specifically requires that as a condition of the plan the credit shall become due and payable on demand, pro vided that the creditor includes such a provision in the initial agreement. 4. Effective September 19, 1990, section 226.5b(f)(3) is amended by deleting sub paragraph (vi)(G) and revising subpara graph (i) to read as follows: (i) Provide in the initial agreement that it may prohibit additional extensions of credit or reduce the credit limit during any period in which the maximum annual percentage rate is reached. A creditor also may provide in the initial agreement that specified changes will occur if a specified * A com plete R egulation Z, as am ended and corrected effective July 29, 1994. consists o f— • the pam phlet dated July 1989 (see inside cover) and • this slip sheet. Items 7 and 8 are new. The other item s w ere included in the O ctober 1993 slip sheet. (3) Notice fo r home-equity plans. If a creditor prohibits additional extensions of credit or reduces the credit limit applica ble to a home-equity plan pursuant to sec tion 226.5b(f)(3)(i) or 226.5b(f)(3)(vi), the creditor shall mail or deliver written no tice of the action to each consumer who will be affected. The notice must be pro vided not later than three business days after the action is taken and shall contain specific reasons for the action. If the cred itor requires the consumer to request rein statement of credit privileges, the notice also shall state that fact. 6. Section 226.9(e)(1) and (f)(1) are cor rected by adding the words “o f the type" before the words "subject to section 226.5a". 7. Effective July 29, 1993, section 226.15(e) is amended by designating the first para graph as (1), modifying the last sentence o f the first paragraph, adding a para graph (2), and redesignating the existing footnote numbers to accommodate the new footnote. Effective July 29, 1994, paragraph (3) is added and the existing footnote numbers are redesignated to ac com m odate the new fo o tn o te. The paragraphs read as follows: (e) Consumer's waiver o f right to rescind. (1) The consum er may modify or 1 Regulation Z waive the right to rescind if the con sumer determines that the extension of credit is needed to meet a bona fide personal financial emergency. To mod ify or waive the right, the consumer shall give the creditor a dated written statement that describes the emergency, specifically modifies or waives the right to rescind, and bears the signatures of all the consumers entitled to rescind. Printed forms for this purpose are pro hibited, except as provided in paragraph (2) of this section. (2) The need of the consumer to obtain funds immediately shall be regarded as a bona fide personal financial emer gency provided that the dwelling secur ing the extension of credit is located in an area declared during June through September 1993, pursuant to 42 USC 5170, to be a major disaster area be cause of severe storms and flooding in the Midwest.36* In this instance, credi tors may use printed forms for the con sumer to waive the right to rescind. This exemption to paragraph (e)(1) of this section shall expire one year from the date an area was declared a major disaster. (3) The consum er’s need to obtain funds immediately shall be regarded as a bona fide personal financial emer gency provided that the dwelling secur ing the extension of credit is located in an area declared during June through September 1994 to be a major disaster area, pursuant to 42 USC 5170, be cause of severe storms and flooding in the South.36*1 In this instance, creditors may use printed forms for the con sumer to waive the right to rescind. This exemption to paragraph (e)(1) of this section shall expire one year from the date an area was declared a major disaster. “ * A list o f the affected areas w ill be maintained by the Board. Such areas now include parts o f Iow a, Illi nois, M innesota, M issouri, N ebraska, South Dakota, and W isconsin. 366 A list o f the affected areas will be maintained and published by the Board. Such areas now include parts o f A labam a, Florida, and Georgia. 8. Effective July 29, 1993, section 226.23(e) is amended by designating the first para graph as (1), modifying the last sentence o f the first paragraph, and adding a para graph (2). Effective July 29, 1994, para graph (3) is added The paragraphs read as follows: (e) Consumer’s waiver o f right to rescind. (1) The consum er may m odify or waive the right to rescind if the con sumer determines that the extension of credit is needed to meet a bona fide personal financial emergency. To mod ify or waive the right, the consumer shall give the creditor a dated written statement that describes the emergency, specifically modifies or waives the right to rescind, and bears the signature of all of the consumers entitled to rescind. Printed forms for this purpose are pro hibited, except as provided in paragraph (2) of this section. (2) The need of the consumer to obtain funds immediately shall be regarded as a bona fide personal financial emer gency provided that the dwelling secur ing the extension of credit is located in an area declared during June through September 1993, pursuant to 42 USC 5170, to be a major disaster area be cause of severe storms and flooding in the Midwest.484 In this instance, credi tors may use printed forms for the con sumer to waive the right to rescind. This exemption to paragraph (e)(1) of this section shall expire one year from the date an area was declared a major disaster. (3) The consum er’s need to obtain funds immediately shall be regarded as a bona fide personal financial emer gency provided that the dwelling secur ing the extension of credit is located in an area declared during June through September 1994 to be a major disaster area, pursuant to 42 USC 5170, be cause of severe storms and flooding in A list o f the affected areas will be m aintained by the Board. Such areas now include parts o f Illinois, Iow a, M innesota, M issouri, Nebraska, South D akota, and W isconsin. Regulation Z the South.48b In this instance, creditors may use printed forms for the con sumer to waive the right to rescind. This exemption to paragraph (e)(1) of this section shall expire one year from the date an area was declared a major disaster. 4*b A list o f the affected areas will be maintained and published by the Board. Such areas now include parts o f A labam a, Florida, and Georgia. 9. Effective September 19, 1990, appendix G-14C is removed. Nonmember insured banks and insured state branches o f foreign banks Federal Deposit Insurance Corporation re gional director for the region in which the institution is located. Savings institutions insured under the Savings Association Insurance Fund o f the FDIC and federally chartered savings banks insured under the Bank Insurance Fund o f the FDIC (but not including state-chartered savings banks insured under the Bank Insurance Fund). Office of Thrift Supervision regional di rector for the region in which the institu tion is located. * 10. Appendix 1 is amended, effective October 8, 1991, and May 13, 1992, by revising the introductory paragraph and the first four entries to read as follows: APPENDIX I— Federal Enforcement Agencies The following list indicates which federal agency enforces Regulation Z for particu lar classes of businesses. Any questions concerning compliance by a particular business should be directed to the appro priate enforcement agency. Terms that are not defined in the Federal Deposit Insur ance Act (12 USC 1813(s)) shall have the meaning given to them in the Interna tional Banking Act of 1978 (12 USC 3101). National banks, and federal branches and federal agencies o f foreign banks District office of the Office of the Comp troller of the Currency for the district in which the institution is located. State member banks, branches and agen cies o f foreign banks (other than federal branches, federal agencies, and insured state branches o f foreign banks), commer cial lending companies owned or con tro lled by fo reig n banks, and organizations operating under section 25 or 25A o f the Federal Reserve Act Federal Reserve Bank serving the District in which the institution is located. * * * * TRUTH IN LENDING ACT 11. Effective December 19, 1991, section 108(a) o f the Truth in Lending Act is amended to read as follows: SECTION 108— Administrative Enforcement (a) Compliance with the requirements im posed under this title shall be enforced under (1) section 8 of the Federal Deposit In surance Act, in the case of— (A) national banks, and Federal branches and Federal agencies of for eign banks, by the Office of the Comptroller of the Currency; (B) member banks of the Federal Reserve System (other than national banks), branches and agencies of for eign banks (other than Federal branches, Federal agencies, and in sured State branches of foreign banks), commercial lending compa nies owned or controlled by foreign banks, and organizations operating under section 25 or 25A of the Fed eral Reserve Act, by the Board; and (C) banks insured by the Federal De posit Insurance Corporation (other 3 Regulation Z than members of the Federal Reserve System) and insured State branches of foreign banks, by the Board of Di rectors of the Federal Deposit Insur ance Corporation; (2) section 8 of the Federal Deposit In surance Act, by the Director of the Of fice of Thrift Supervision, in the case of a saving association the deposits of which are insured by the Federal De posit Insurance Corporation. The terms used in paragraph (1) that are not defined in this title or otherwise de fined in section 3(s) of the Federal De posit Insurance Act (12 U.S.C. 1813(s)) shall have the meaning given to them in section 1(b) of the International Banking Act of 1978 (12 U.S.C. 3101). COMPETITIVE EQUALITY BANKING ACT OF 1987 (4) the Federal Aviation Act of 1958, by the Secretary of Transportation with respect to any air carrier or foreign air carrier subject to that Act. 4 12. E ffective O ctober 28, 1992, section 1204(d)(2) o f the Competitive Equality Banking Act o f 1987 is amended by ad ding the word “consumer" before the words “loan secured by a lien".