Permissible activities of Edge and agreement corporations in the United States.

CFR · 2024-01-01 · US · Title 12

(a) (1) (ii) (A) Are to be transmitted abroad; (B) Consist of funds to be used for payment of obligations to the Edge or agreement corporation or collateral securing such obligations; (C) Consist of the proceeds of collections abroad that are to be used to pay for exported or imported goods or for other costs of exporting or importing or that are to be periodically transferred to the depositor's account at another financial institution; (D) Consist of the proceeds of extensions of credit by the Edge or agreement corporation; (E) Represent compensation to the Edge or agreement corporation for extensions of credit or services to the customer; (F) Are received from Edge or agreement corporations, foreign banks, and other depository institutions (as described in Regulation D (12 CFR part 204)); or (G) Are received from an organization that by its charter, license, or enabling law is limited to business that is of an international character, including foreign sales corporations, as defined in 26 U.S.C. 922; transportation organizations engaged exclusively in the international transportation of passengers or in the movement of goods, wares, commodities, or merchandise in international or foreign commerce; and export trading companies established under subpart C of this part. (2) (i) Borrow from offices of other Edge and agreement corporations, foreign banks, and depository institutions (as described in Regulation D (12 CFR part 204)); (ii) Issue obligations to the United States or

official document · source cfr-2024 · id 12:§ 211.6