Maintenance of assets.

CFR · 2024-01-01 · US · Title 12

(a) (2) If the OCC requires asset maintenance, the amount of assets held by a foreign bank shall be prescribed by the OCC after consideration of the aggregate amount of liabilities of the Federal branch or agency, payable at or through the Federal branch or agency. To determine the aggregate amount of liabilities for purposes of this section, the foreign bank shall include bankers' acceptances, but exclude liabilities to (b) (c) (1) Capital equivalency deposits maintained pursuant to § 28.15; (2) Reserves required to be maintained by the Federal branch or agency pursuant to the FRB's authority under 12 U.S.C. 3105(a); and (3) Assets pledged, and surety bonds payable, to the FDIC to secure the payment of domestic deposits. (d) (1) Any amount due from the head office or any other branch, office, agency, subsidiary, or affiliate of the foreign bank; (2) Any classified asset; (3) Any asset that, in the determination of the OCC, is not supported by sufficient credit information; (4) Any deposit with a bank in the United States, unless that bank has executed a valid waiver of offset agreement; (5) Any asset not in the Federal branch's actual possession unless the branch holds title to the asset and maintains records sufficient to enable independent verification of the branch's ownership of the asset, as determined at the most recent examination; and (6) Any other particular asset or class of assets as provided by the OCC, based on a case-by-case assessment of the risks associated w

official document · source cfr-2024 · id 12:§ 28.20