(e) agreements which include tax-exempt loan agreements. Where an agreement includes a loan, credit extension or loan commitment which, if documented separately, would be exempt in accordance with point (c) of this Section, the exempt loan, credit renewal or loan commitment may be excluded for the purpose of determining whether the agreement is a covered agreement. (5) The contract is entered into with an NGEP who, prior to the conclusion of the contract, had described a notification cra as set out in article 207.3. Once the covered agreements enter into full force, they will eliminate the guarantee and local presence requirements for qualified US reinsurers operating in the EU and UK insurance markets and the guarantee requirement for EU and UK qualified reinsurers operating in the US insurance market, remove as a condition for their U.S. sellers to borrow for reinsurance. In addition, if U.S. states take appropriate steps to establish group capital standards, as provided for in the agreements, the covered agreements provide that U.S. insurance groups operating in the EU and the United Kingdom will be supervised globally only by the U.S. insurance authorities and that EU and U.K. insurers operating in the U.S. globally will only be supervised by the U.S.
insurance authorities. the insurance supervisory authorities of the EU and the United Kingdom. the covered agreement with the EU – formally under the title of bilateral agreement between the United States of America and the European Union on prudent insurance and reinsurance measures – covers three areas of insurance and reinsurance supervision: (1) group supervision; 2. (4) Example 4. A bank holding company enters into a written agreement with a community development organization that provides that the insured deposit banks owned by the bank holding company will receive $250 million in loans for small businesses in the municipality over the next 5 years. . . .