Investments and activities abroad.

CFR · 2024-01-01 · US · Title 12

(a) (b) (1) Foreign banks; (2) Domestic or foreign organizations formed for the sole purpose of holding shares of a foreign bank; (3) Foreign organizations formed for the sole purpose of performing nominee, fiduciary, or other banking services incidental to the activities of a foreign branch or foreign bank affiliate of the member bank; and (4) Subsidiaries established pursuant to § 211.4(a)(8) of this part. (c) (1) (2) (3) (i) (A) 40 percent of the total equity of the organization; or (B) 19.9 percent of the organization's voting shares. (ii) (iii) (iv) (d) (e) (1) The organization invested in: (i) Engages in impermissible activities to an extent not permitted under paragraph (c) of this section; or (ii) Engages directly or indirectly in other business in the United States that is not permitted to an Edge corporation in the United States; provided that an investor may: (A) Retain portfolio investments in companies that derive no more than 10 percent of their total revenue from activities in the United States; and (B) Hold up to 5 percent of the shares of a foreign company that engages directly or indirectly in business in the United States that is not permitted to an Edge corporation; or (2) After notice and opportunity for hearing, the investor is advised by the Board that such investment is inappropriate under the FRA, the BHC Act, or this subpart. (f) (g) (i) (ii) (A) A bank holding company may acquire more than 25 percent of the voting shares of the foreign company only

official document · source cfr-2024 · id 12:§ 211.8