Foreign branching.

CFR · 2024-01-01 · US · Title 12

(a) (b) (c) (1) Analysis of market conditions in the area where the branch is to be established; (2) The credit union's plan for addressing foreign currency risk; (3) Operating facilities, including office space/equipment and supplies; (4) Safeguarding of assets, bond coverage, insurance coverage, and records preservation; (5) Written policies regarding the branch (shares, lending, capital, charge-offs, collections); (6) The field of membership or portion of the field of membership to be served through the foreign branch and the financial needs of the members to be served and services and products to be provided; (7) Detailed (8) Internal controls including cash disbursal procedures for shares and loans at the branch; (9) Accounting procedures used to identify branch activity and performance; and (10) Foreign income taxation and employment law. (d) (e)

official document · source cfr-2024 · id 12:§ 741.11