900 Regulations Governing Business of Banks and Trust Companies
[5 Del.C. §929]
Effective Date: December 11, 2005
Purpose.
This Regulation authorizes certain conduct as exceptions to the anti-tying restrictions of Section 929 of the State Banking Code (5 Del.C . §92 9), pursuant to Section 929(f). These exceptions are in addition to those elsewhere in Section 929.
Exceptions to statute.
Subject to the limitations of paragraph 3.0 of this Regulation, a bank may:
Safe harbor for combined-balance discounts. Vary the consideration for any product or package of products based on a customer's maintaining a combined minimum balance in certain products specified by the bank (eligible products), if:
The bank offers deposits, and all such deposits are eligible products; and
Balances in deposits count at least as much as nondeposit products toward the minimum balance.
Safe harbor for foreign transactions. Engage in any transaction with a customer if that customer is:
A corporation, business, or other person (other than an individual) that:
Is incorporated, chartered, or otherwise organized outside the United States; and
Has its principal place of business outside the United States; or
An individual who is a citizen of a foreign country and is not resident in the United States.
Limitations on exceptions.
Any exception authorized pursuant to this Regulation shall terminate upon a finding by the Commissioner that the arrangement is resulting in anti-competitive practices. The eligibility of a bank to operate under any exception authorized pursuant to this Regulation shall terminate upon a finding by the Commissioner that its exercise of this authority is resulting in anti-competitive practices.