Examination of offices and affiliates of foreign banks.

CFR · 2024-01-01 · US · Title 12

(a) (i) Any branch or agency of a foreign bank; (ii) Any commercial lending company or bank controlled by one or more foreign banks, or one or more foreign companies that control a foreign bank; and (iii) Any other office or affiliate of a foreign bank conducting business in any state. (2) (b) (c) (i) The Board; (ii) The FDIC, if the branch of the foreign bank accepts or maintains insured deposits; (iii) The Comptroller, if the branch or agency of the foreign bank is licensed by the Comptroller; or (iv) The state supervisor, if the office of the foreign bank is licensed or chartered by the state. (2) (A) Has total assets of less than $3 billion; (B) Has received a composite ROCA supervisory rating (which rates risk management, operational controls, compliance, and asset quality) of 1 or 2 at its most recent examination; (C) Satisfies the requirement of either the following paragraph (c)(2)(i)(C)( ( ( (D) Is not subject to a formal enforcement action or order by the Board, FDIC, or OCC; and (E) Has not experienced a change in control during the preceding 12-month period in which a full-scope, on-site examination would have been required but for this section. (ii) (A) Any of the individual components of the ROCA supervisory rating of a branch or agency of a foreign bank is rated “3” or worse; (B) The results of any off-site surveillance indicate a deterioration in the condition of the office; (C) The size, relative importance, and role of a particular office when reviewed in th

official document · source cfr-2024 · id 12:§ 211.26