12 USC Ch. 32: Front Matter
From Title 12-BANKS AND BANKINGCHAPTER 32-FOREIGN BANK PARTICIPATION IN DOMESTIC MARKETS
CHAPTER 32-FOREIGN BANK PARTICIPATION IN DOMESTIC MARKETS
Sec.
3101.
Definitions.
3102.
Establishment of Federal branches and agencies by foreign bank.
(a)
Establishment and operation of Federal branches and agencies.
(b)
Rules and regulations; rights and privileges; duties and liabilities; exceptions; coordination of examinations.
(c)
Application to establish Federal branch or agency; matters considered.
(d)
Receipt of deposits and exercising of fiduciary powers at Federal agency prohibited.
(e)
Maintenance of Federal branch and Federal agency in same State prohibited.
(f)
Conversion of foreign bank branch, agency or commercial lending company into Federal branch or agency; approval of Comptroller.
(g)
Deposit requirements; asset requirements.
(h)
Additional branches or agencies.
(i)
Termination of authority to operate Federal branch or agency.
(j)
Receivership over assets of foreign bank in United States.
3103.
Interstate banking by foreign banks.
(a)
Interstate branching and agency operations.
(b)
Continuance of lawful interstate banking operations previously commenced.
(c)
Determination of home State of foreign bank.
(d)
Clarification of branching rules in case of foreign bank with domestic bank subsidiary.
3104.
Insurance of deposits.
(a)
Objective.
(b)
Deposits of less than $100,000.
(c)
Deposits required to be insured under State law.
(d)
Retail deposit-taking by foreign banks.
3105.
Authority of Federal Reserve System.
(a)
Bank reserves.
(b)
Omitted.
(c)
Foreign bank examinations and reporting.
(d)
Establishment of foreign bank offices in United States.
(e)
Termination of foreign bank offices in United States.
(f)
Judicial review.
(g)
Consultation with State bank supervisor.
(h)
Limitations on powers of State branches and agencies.
(i)
Proceedings related to conviction for money laundering offenses.
(j)
Study on equivalence of foreign bank capital.
(k)
Management of shell branches.
3106.
Nonbanking activities of foreign banks.
(a)
Applicability of Bank Holding Company Acts.
(b)
Ownership or control of shares of nonbanking companies for certain period.
(c)
Engagement in nonbanking activities after certain period.
(d)
Construction of terms.
3106a.
Compliance with State and Federal laws.
3107.
Representative offices.
(a)
Prior approval to establish representative offices.
(b)
Termination of representative offices.
(c)
Examinations.
(d)
Compliance with State law.
3108.
Regulation and enforcement.
(a)
Rules, regulations and orders.
(b)
Enforcement.
(c)
Powers of Federal Reserve Board and Federal Deposit Insurance Corporation.
3109.
Cooperation with foreign supervisors.
(a)
Disclosure of supervisory information to foreign supervisors.
(b)
Requirement of confidentiality.
3110.
Penalties.
(a)
Civil money penalty.
(b)
Notice under this section after separation from service.
(c)
Penalty for failure to make reports.
3111.
Criminal penalty.
Chapter Referred to in Other Sections
This chapter is referred to in sections 619, 1813, 3902 of this title; title 15 section 78c; title 31 sections 3121, 9110.