Permissible financial activities outside the United States.

CFR · 2024-01-01 · US · Title 12

(a) (1) Holding more than 50 percent, in the aggregate, of the voting equity interest in such foreign organization; or (2) Controlling such foreign organization, unless the activities of a foreign organization are limited to those authorized under paragraph (b) of this section. (b) (1) Commercial and other banking activities. (2) Financing, including commercial financing, consumer financing, mortgage banking, and factoring, subject to compliance with any attendant restrictions contained in 12 CFR 225.28(b). (3) Leasing real or personal property, acting as agent, broker or advisor in leasing real or personal property, subject to compliance with any attendant restrictions in 12 CFR 225.28(b). (4) Acting as a fiduciary, subject to compliance with any attendant restrictions in 12 CFR 225.28(b). (5) Underwriting credit life, credit accident and credit health insurance. (6) Performing services for other direct or indirect operations of a domestic banking organization, including representative functions, sale of long-term debt, name saving, liquidating assets acquired to prevent loss on a debt previously contracted in good faith, and other activities that are permissible for a bank holding company under sections 4(a)(2)(A) and 4(c)(1)(C) of the Bank Holding Company Act. (7) Holding the premises of a branch of an Edge corporation or insured state nonmember bank or the premises of a direct or indirect subsidiary, or holding or leasing the residence of an officer or employee of a branc

official document · source cfr-2024 · id 12:§ 347.105