Commitment to be examined and provide information.

CFR · 2024-01-01 · US · Title 12

(a) In connection with an application for deposit insurance for a U.S. branch or depository institution subsidiary of a foreign bank that has been determined to be subject to comprehensive consolidated supervision by the appropriate Federal banking agency, as defined in section 3(q) of the FDI Act (12 U.S.C. 1813(q)), the foreign bank shall provide binding written commitments (including a consent to U.S. jurisdiction and designation of agent for service, acceptable to the FDIC) to the following terms: (1) The FDIC will be provided with any information about the foreign bank and its affiliates located outside of the United States that the FDIC requests to determine: (i) The relationship between the U.S. branch or depository institution subsidiary and its affiliates; and (ii) The effect of such relationship on such U.S. branch or depository institution subsidiary; (2) The FDIC will be allowed to examine the affairs of any office, agency, branch or affiliate of the foreign bank located in the United States and will be provided any information requested to determine: (i) The relationship between the U.S. branch or depository institution subsidiary and such offices, agencies, branches or affiliates; and (ii) The effect of such relationship on such U.S. branch or depository institution subsidiary. (3) The FDIC will not process a deposit insurance application for any U.S. branch or depository institution subsidiary of a foreign bank if the foreign bank fails to provide the written c

official document · source cfr-2024 · id 12:§ 347.204