This chapter is applicable, notwithstanding any other provision thereof, only to:
(1) A commercial bank under Title
30A RCW;
(2) A mutual or stock savings bank under Title
32 RCW, which, on January 21, 2013, or thereafter, invests in derivative transactions;
(3) A mutual or stock savings bank under Title
32 RCW, which, on January 21, 2013, or thereafter, invests in securities financing transactions, if:
(a) The mutual or stock savings bank is a state member bank and the Federal Reserve Board has determined that loans and extensions of credit apply to securities financing transactions; or
(b) The FDIC has determined that loans and extensions of credit apply to securities financing transactions in relation to state-chartered banks and savings banks; and
(4) A mutual or stock savings bank under Title
32 RCW that has notified the division, as of January 21, 2013, or thereafter, that it has elected to be regulated by and comply with this chapter, even if it does not invest in derivative transactions or securities financing transactions.
[Statutory Authority: RCW
43.320.040,
43.320.050,
30A.04.030,
30A.04.111,
30A.04.215,
30A.08.140,
32.08.157 and section 939A of the Dodd-Frank Act. WSR 17-24-053, § 208-512A-009, filed 12/1/17, effective 1/1/18. Statutory Authority: RCW
30.04.030,
30.04.111,
30.04.215,
30.08.140,
32.08.157,
43.320.040, and
43.320.050 and Section 611 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (codified as section 18(y) of the Federal Deposit Insurance Act, 12 U.S.C. §1828(y)), which takes effect January 21, 2013. WSR 13-03-037, § 208-512A-009, filed 1/8/13, effective 2/8/13.]