# 12 C.F.R. § 354.3 (2026): Written agreement

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/CFR_T12_P354_S354_3

## Section

- **Citation:** 12 C.F.R. § 354.3 (2026)
- **Heading:** Written agreement
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Title 12 CFR: Banks and Banking / Chapter III: FEDERAL DEPOSIT INSURANCE CORPORATION / Part 354: INDUSTRIAL BANKS / § 354.3: § 354.3   Written agreement.

## Text

(a) No industrial bank may become a subsidiary of a Covered Company unless the Covered Company enters into one or more written agreements with both the Federal Deposit Insurance Corporation (FDIC) and the subsidiary industrial bank, which contain commitments by the Covered Company to comply with each of paragraphs (a)(1) through (8) in § 354.4 and such other written agreements, commitments, or restrictions as the FDIC deems appropriate, including, but not limited to, the provisions of §§ 354.4 and 354.5.
(b) The FDIC may, at its sole discretion, condition a grant of deposit insurance, issuance of a non-objection to a change in control, or approval of a merger on an individual who is a controlling shareholder of a Covered Company joining as a party to any written agreement required by paragraph (a) of this section.

## Nearby sections

- [12 C.F.R. § 354.1 (2026) § 354.1   Scope.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P354_S354_1.md)
- [12 C.F.R. § 354.2 (2026) § 354.2   Definitions.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P354_S354_2.md)
- [12 C.F.R. § 354.3 (2026) § 354.3   Written agreement.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P354_S354_3.md)
- [12 C.F.R. § 354.4 (2026) § 354.4   Required commitments and provisions of written agreement.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P354_S354_4.md)
- [12 C.F.R. § 354.5 (2026) § 354.5   Restrictions on industrial bank subsidiaries of Covered Companies.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P354_S354_5.md)
- [12 C.F.R. § 354.6 (2026) § 354.6   Reservation of authority.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P354_S354_6.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/CFR_T12_P354_S354_3. Check the current official text before relying on it. Not legal advice.