Related Organizations

Other Exemptions

Other exemptions from the limits of section 23A include purchasing marketable securities, purchasing municipal securities, and certain riskless principal transactions. All of these exemptions are subject to certain requirements or limits. Regulation W also modified certain exemptions from section 23A that pre-dated Regulation W, such as section 23A’s exemption for purchasing liquid assets and the regulatory exemption for purchasing extensions of credit from an affiliate (formerly found at 12 CFR 250.250). In addition, Regulation W creates specific new exemptions from section 23B’s requirements.

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