12 CFR § 223.43 - What are the standards under which the Board may grant additional exemptions from the requirements of section 23A?

---
identifier: "/us/cfr/t12/s223.43"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 223.43 - What are the standards under which the Board may grant additional exemptions from the requirements of section 23A?"
title_number: 12
title_name: "Banks and Banking"
section_number: "223.43"
section_name: "What are the standards under which the Board may grant additional exemptions from the requirements of section 23A?"
chapter_name: "FEDERAL RESERVE SYSTEM"
subchapter_number: "A"
subchapter_name: "BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM"
part_number: "223"
part_name: "TRANSACTIONS BETWEEN MEMBER BANKS AND THEIR AFFILIATES (REGULATION W)"
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. 371c(b)(1)(E), (b)(2)(A), and (f), 371c-1(e), 1828(j), 1468(a), and section 312(b)(2)(A) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 5412)."
regulatory_source: "67 FR 76604, Dec. 12, 2002, unless otherwise noted."
cfr_part: "223"
---


# 223.43 What are the standards under which the Board may grant additional exemptions from the requirements of section 23A?

(a) *The standards.* The Board may, at its discretion, by regulation or order, exempt transactions or relationships from the requirements of section 23A and subparts B, C, and D of this part if it finds such exemptions to be in the public interest and consistent with the purposes of section 23A.

(b) *Procedure.* A member bank may request an exemption from the requirements of section 23A and subparts B, C, and D of this part by submitting a written request to the General Counsel of the Board. Such a request must:

(1) Describe in detail the transaction or relationship for which the member bank seeks exemption;

(2) Explain why the Board should exempt the transaction or relationship; and

(3) Explain how the exemption would be in the public interest and consistent with the purposes of section 23A.