Deposit-taking by an uninsured Federal branch.

CFR · 2024-01-01 · US · Title 12

(a) (b) (1) Individuals who are not citizens or residents of the United States at the time of the initial deposit; (2) Individuals who are not citizens of the United States, but are residents of the United States, and are employed by a foreign bank, foreign business, foreign government, or recognized international organization; (3) Persons (including immediate family members of an individual) to (4) Foreign businesses and large United States businesses; (5) Foreign governmental units, including political subdivisions, and recognized international organizations; (6) Federal and state governmental units, including political subdivisions and agencies thereof; (7) Persons who are depositing funds in connection with the issuance of a financial instrument by the branch for transmission of funds, or transmission of funds by any electronic means; (8) Persons who may deposit funds with an Edge corporation as provided in the FRB's Regulation K, 12 CFR 211.6, including persons engaged in certain international business activities; and (9) Any other depositor if: (i) The aggregate amount of deposits received from those depositors does not exceed, on an average daily basis, 1 percent of the average of the branch's deposits for the last 30 days of the most recent calendar quarter, excluding deposits of other offices, branches, agencies, or wholly owned subsidiaries of the foreign bank; and (ii) The branch does not solicit deposits from the general public by advertising, display of signs, or

official document · source cfr-2024 · id 12:§ 28.16