Applicability.

(a) General applicability. A foreign banking organization with average total consolidated assets of at least $50 billion but less than $100 billion must comply with the risk-committee requirements set forth in this subpart beginning on the first day of the ninth quarter following the date on which its average total consolidated assets equal or exceed $50 billion. (b) Cessation of requirements. A foreign banking organization will remain subject to the risk-committee requirements of this section until the earlier of the date on which: (1) Its total consolidated assets are below $50 billion for each of four consecutive calendar quarters; and (2) It becomes subject to the requirements of subpart N or subpart O of this part. [84 FR 59109, Nov. 1, 2019]