Definitions.

CFR · 2024-01-01 · US · Title 12

For purposes of this subpart: (a) (b) (c) (d) (e) (f) (1) Open and conduct business through an initial or additional Federal branch or agency; (2) Acquire directly or indirectly through merger, consolidation, or similar transaction with another foreign bank, the operations of a Federal branch or agency that is open and conducting business; (3) Acquire a Federal branch or agency through the acquisition of a foreign bank subsidiary that will cease to operate in the same corporate form following the acquisition; (4) Convert a state branch or agency operated by a foreign bank, or a commercial lending company controlled by a foreign bank, into a Federal branch or agency; (5) Relocate a Federal branch or agency within a state or from one state to another; or (6) Convert a Federal agency or a limited Federal branch into a Federal branch. (g) (1) Incidental to, or arise out of the exercise of, other lawful banking powers; (2) To serve a specific purpose; (3) Not solicited from the general public; (4) Not used to pay routine operating expenses in the United States such as salaries, rent, or taxes; (5) Withdrawn within a reasonable period of time after the specific purpose for which they were placed has been accomplished; and (6) Drawn upon in a manner reasonable in relation to the size and nature of the account. (h) (i) (j) (k) (l) (m) (n) (o) (p) (q) (r) (1) Securities registered on a national securities exchange or quoted on the National Association of Securities Dealers Automated Q

official document · source cfr-2024 · id 12:§ 28.11