Federal branches and agencies.

CFR · 2024-01-01 · US · Title 12

(a) (b) (c) (1) To (i) Open and conduct business through an initial or additional Federal branch or agency; (ii) Acquire directly, through merger, consolidation, or similar transaction with another foreign bank, the operations of a Federal branch or agency that is open and conducting business; (iii) Acquire a Federal branch or agency through the acquisition of a foreign bank subsidiary that will cease to operate in the same corporate form following the acquisition; (iv) Convert a State branch or State agency operated by a foreign bank, or a commercial lending company controlled by a foreign bank, into a Federal branch or agency; (v) Relocate a Federal branch or agency within a State or from one State to another; or (vi) Convert a Federal agency or a limited Federal branch into a Federal branch. (2) (d) (2) (i) Establishes a Federal branch or agency; or (ii) Exercises fiduciary powers at a Federal branch. A foreign bank may submit an application to exercise fiduciary powers at the time of filing an application for a Federal branch license or at any subsequent date. (3)

official document · source cfr-2024 · id 12:§ 5.70