§ 3909. — General authorities.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC3909]
TITLE 12--BANKS AND BANKING
CHAPTER 40--INTERNATIONAL LENDING SUPERVISION
Sec. 3909. General authorities
(a) Rules and regulations
(1) The appropriate Federal banking agencies are authorized to
interpret and define the terms used in this chapter, and each
appropriate Federal banking agency shall prescribe rules or regulations
or issue orders as necessary to effectuate the purposes of this chapter
and to prevent evasions thereof.
(2) The appropriate Federal banking agency is authorized to apply
the provisions of this chapter to any affiliate of an insured bank, but
only to affiliates for which it is the appropriate Federal banking
agency, in order to promote uniform application of this chapter or to
prevent evasions thereof.
(3) For purposes of this section, the term ``affiliate'' shall have
the same meaning as in section 371c of this title, except that the term
``member bank'' in such section shall be deemed to refer to an ``insured
bank'', as such term is used in section 1813(h) of this title.
(b) Systems uniformity
The appropriate Federal banking agencies shall establish uniform
systems to implement the authorities provided under this chapter.
(c) Existing authorities
(1) The powers and authorities granted in this chapter shall be
supplemental to and shall not be deemed in any manner to derogate from
or restrict the authority of each appropriate Federal banking agency
under section 1818 of this title or any other law including the
authority to require additional capital or reserves.
(2) Any such authority may be used by any appropriate Federal
banking agency to ensure compliance by a banking institution with the
provisions of this chapter and all rules, regulations, or orders issued
pursuant thereto.
(d) Civil penalties; assessment and collection
(1) Any banking institution which violates, or any officer,
director, employee, agent, or other person participating in the conduct
of the affairs of such banking institution, who violates any provision
of this chapter, or any rule, regulation, or order, issued under this
chapter, shall forfeit and pay a civil penalty of not more than $1,000
per day for each day during which such violation continues.
(2) Such violations shall be deemed to be a violation of a final
order under section 1818(i)(2) of this title and the penalty shall be
assessed and collected by the appropriate Federal banking agency under
the procedures established by, and subject to the rights afforded to
parties in, such section.
(Pub. L. 98-181, title IX, Sec. 910, Nov. 30, 1983, 97 Stat. 1282.)
Section Referred to in Other Sections
This section is referred to in section 3908 of this title.
