Ohio § 1121.12

§ 1121.12.

An examination of the records and affairs of a state bank under section 1121.10 of the Revised Code may include the examination of a person who, directly or indirectly, controls the

bank that is a bank holding company registered with the federal reserve or a savings

and loan holding company, but only to the extent explicitly permitted under this section.  To examine the records and affairs of a person who, directly or indirectly, controls

a bank that is a bank holding company registered with the federal reserve or a savings

and loan holding company, the superintendent of financial institutions may do one

of the following: (A) Rely on an examination of the bank holding company or savings and loan holding company

conducted by a financial institution regulatory authority of another state, the United

States, or another country, as provided in division (A)(3) of section 1121.11 of the Revised Code ; (B) Participate with the financial institution regulatory authorities of other states,

the United States, and other countries in a joint or coordinated examination of the

bank holding company or savings and loan holding company, provided that both of the

following apply: (1) The examination of the bank holding company or savings and loan holding company is

validly authorized by and conducted pursuant to the laws of this state and such other

state, the United States, or other country. (2) Participation of the examiners of the division of financial institutions will increase

the efficiency in regulating financial institutions, and not increase the cost of

examination to the bank holding company or savings and loan holding company. (C) Examine the bank holding company or savings and loan holding company pursuant to

an agreement with financial institution regulatory authorities of other states, the

United States, or other countries, provided that both of the following apply: (1) The examination of the bank holding company or savings and loan holding company is

validly authorized by and conducted pursuant to the laws of this state and such other

state, the United States, or other country. (2) The other financial institution regulatory authority agrees to rely on the superintendent's

examination in lieu of conducting its own examination. (D) Examine the bank holding company or savings and loan holding company if both of the

following apply: (1) The superintendent has reasonable cause to believe that there is a significant risk

of imminent material harm to the bank, or to any subsidiary or nonbank affiliate as

its affairs relate to the bank, and the examination of the bank holding company or

savings and loan holding company is necessary to fully determine the risk to the bank,

or to determine how best to address the risk to the bank. (2) Either of the following occurs: (a) The superintendent, in writing, requests the federal reserve to examine the bank

holding company, and within fifteen days the federal reserve does not commence an

examination of the bank holding company and notifies the superintendent that the federal

reserve does not object to the examination. (b) The banking commission concurs with the superintendent's determination of both of

the following: (i) There is reasonable cause to believe that there is a significant risk of imminent

material harm to the bank. (ii) The examination of the bank holding company or savings and loan holding company is

necessary to fully determine the risk to the bank, or to determine how best to address

the risk to the bank. (E) For purposes of this section, a bank holding company includes not only the bank holding

company, but also includes any nonbank affiliates of the bank holding company that

are subject to examination by the federal reserve.