12 CFR § 238.150 - Applicability and general provisions.
---
identifier: "/us/cfr/t12/s238.150"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 238.150 - Applicability and general provisions."
title_number: 12
title_name: "Banks and Banking"
section_number: "238.150"
section_name: "Applicability and general provisions."
chapter_name: "FEDERAL RESERVE SYSTEM"
subchapter_number: "A"
subchapter_name: "BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM"
part_number: "238"
part_name: "SAVINGS AND LOAN HOLDING COMPANIES (REGULATION LL)"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "5 U.S.C. 552, 559; 12 U.S.C. 1462, 1462a, 1463, 1464, 1467, 1467a, 1468, 5365; 1813, 1817, 1829e, 1831i, 1972, 15 U.S.C. 78"
regulatory_source: "Reg. LL, 76 FR 56532, Sept. 13, 2011, unless otherwise noted."
cfr_part: "238"
---
# 238.150 Applicability and general provisions.
(a) *In general.* This subpart establishes single counterparty credit limits for a covered company. For purposes of this subpart, covered company means:
(i) A Category II savings and loan holding company; or
(ii) A Category III savings and loan holding company.
(b) *Credit exposure limits.* (1) Section 238.152 establishes credit exposure limits for a covered company.
(2) A covered company is required to calculate its aggregate net credit exposure, gross credit exposure, and net credit exposure to a counterparty using the methods in this subpart.
(c) *Applicability of this subpart.* (1) A covered company that becomes subject to this subpart must comply with the requirements of this subpart beginning on the first day of the ninth calendar quarter after it becomes a covered company, unless that time is accelerated or extended by the Board in writing.
(2) [Reserved]
(d) *Cessation of requirements.* Any company that becomes a covered company will remain subject to the requirements of this subpart unless and until it is not a Category II savings and loan holding company or a Category III savings and loan holding company.
At 84 FR 59087, Nov. 1, 2019, subpart Q was added, and within that subpart, § 238.150 was added with incorrect paragraph coding in paragraph (a).