12 CFR § 23.1 - Authority, purpose, and scope.

---
identifier: "/us/cfr/t12/s23.1"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 23.1 - Authority, purpose, and scope."
title_number: 12
title_name: "Banks and Banking"
section_number: "23.1"
section_name: "Authority, purpose, and scope."
chapter_name: "COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY"
part_number: "23"
part_name: "LEASING"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1  24(Seventh), 24(Tenth), and 93a."
regulatory_source: "61 FR 66560, Dec. 18, 1996, unless otherwise noted."
cfr_part: "23"
---


# 23.1 Authority, purpose, and scope.

(a) *Authority.* A national bank may engage in personal property lease financing transactions pursuant to 12 U.S.C. 24(Seventh) or 12 U.S.C. 24(Tenth).

(b) *Purpose.* The purpose of this part is to set forth standards for personal property lease financing transactions authorized for national banks.

(c) *Scope.* This part applies to the acquisition of personal property by a national bank for the purpose of, or in connection with, the leasing of that property.