TAILIEUCHUNG - REFERENCE MATERIAL (Statutes, Regulatory Guidances, Supervisory Memorandums, Select Legal Opinions)

The unique segmentation of Chinese stock markets has attracted great attention of re- searchers. Much empirical work concentrates on analysing the segmentation and linkages between Chinese stock markets, as well as integration of Chinese with international stock markets (Wang and Iorio, 2007; Girardin and Liu, 2007). Meanwhile, some studies inves- tigate issues concerning discounts of B shares relative to A shares based on asset pricing models. Chan et al. (2008) and Chakravarty et al. (1998) show that information asymme- try explains a signicant portion of the cross-sectional variation of the B share discounts. Ma (1996) nds evidence that the price di erences between A shares and B shares. | REFERENCE MATERIAL Statutes Regulatory Guidances Supervisory Memorandums Select Legal Opinions 13 - inveStmeNt securities APPLICABLE TO CITE ALL STATE BANKS NONFED MEM STATE FED MEM REF ONLY LAWS RULES AND REGULATION Texas Finance Code Sec. - Securities z Sec. - Mutual Funds z Sec. - Other Direct Equity Investments z Sec. - Investments for Public Welfare z Sec. - Securing Depositors z Texas Administrative Code 7 TAC - Calculation of Investment Limit z 7 TAC - Hedging Investments z Texas Government Code Chapter 2256 - Public Funds Investment Act z Chapter 2257 - Collateral for Public Funds Chapter 2257 Subchapter B - Security for Deposit of Public Funds z Sec. - Collateral Required z Sec. - Amount of Collateral z FDIC Laws Regulations 12 CFR 337 - Unsafe and Unsound Banking Practices z 12 CFR 362 - Activities of Insured State Banks z Federal Reserve Laws Regulations 12 CFR 208 Regulation H -Restrictions and Prohibitions in the National Bank Act Regarding the Purchase Sale Underwriting and Holding of Investment Securities and Stock z POLICY ISSUANCES Department Policy Memorandum News Release - Legislative Changes Affecting the Legal Limit z Calculations 08 17 2007 1007 - Policies Regarding Investment Securities 8 21 1998 z Revised 05 2012 - 1 - Texas Department of Banking REFERENCE MATERIAL Statutes Regulatory Guidances Supervisory Memorandums Select Legal Opinions 13 - inveStmeNt securities CITE ALL STATE BANKS NONFED MEM STATE FED MEM REF ONLY FDIC Issuances PR-41-2012 Volcker Rule Conformance Period Clarified 04 19 2012 V PR-113-2011 Agencies Issue Guidance on Third Party Credit Risk Management 07 05 2011 V FIL-20-2009 Risk Management of Investments in Structured Credit Products 04 30 2009 V PR-108-2008 Agencies Announce Decision on Impact of Tax Change on Indirect Investments in Fannie Mae and Freddie Mac Preferred Stock 10 31 2008 V PR-102-2008 Agencies Announce Decision on Regulatory Capital .

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