General consent.

CFR · 2024-01-01 · US · Title 12

(a) (1) Eligible bank to establish a foreign branch conducting activities authorized by section 347.115 of this section in any foreign country in which: (i) The bank already operates one or more foreign branches or foreign bank subsidiaries; (ii) The bank's holding company operates a foreign bank subsidiary; or (iii) An affiliated bank or Edge or Agreement corporation operates one or more foreign branches or foreign bank subsidiaries. (2) Insured state nonmember bank to relocate an existing foreign branch within a foreign country. (b) (1) The bank operates at least one foreign bank subsidiary or foreign branch, an affiliated bank or Edge or Agreement corporation operates at least one foreign bank subsidiary or foreign branch, or the bank's holding company operates at least one foreign bank subsidiary in the country where the foreign organization will be located; (2) In any instance where the bank and its affiliates will hold 20 percent or more of the foreign organization's voting equity interests or control the foreign organization, at least one state nonmember bank has a foreign bank subsidiary or foreign branch (other than a shell branch) in the country where the foreign organization will be located; (3) The investment is within one of the following limits: (i) The investment is acquired at net asset value from an affiliate; (ii) The investment is a reinvestment of cash dividends received from the same foreign organization during the preceding 12 months; or (iii) The total

official document · source cfr-2024 · id 12:§ 347.117