4000 - Advisory Opinions
Guarantee of Obligations of Bank's Wholly Owned Subsidiaries Not in Violation of Part 332
March 3, 1983
Monica S. Lercher, Regional Attorney
I am writing this letter to confirm advice I had given you during a telephone conversation on February 16, 1983 concerning the applicability of Part 332 of the FDIC rules and regulations (12 C.F.R. 332).
Specifically, I advised you that Part 332 is not applicable to a bank's guarantee of the obligations of its wholly owned subsidiaries. Although such a guarantee would not violate Part 332, your bank must of course comply with all other appropriate state and federal laws.