federal_register: 97-33411
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| document_number | title | type | abstract | publication_date | pub_year | pub_month | html_url | pdf_url | agency_names | agency_ids | excerpts |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 97-33411 | International Banking Operations; Rules Regarding Delegation of Authority | Proposed Rule | Consistent with section 303 of the Riegle Community Development and Regulatory Improvement Act of 1994 (the Regulatory Improvement Act) and the International Banking Act of 1978 (the IBA), the Board has reviewed Regulation K, which governs international banking operations, and is proposing for comment a number of changes to Subparts A, B and C of Regulation K. Subpart A of Regulation K governs the foreign investments and activities of all member banks (national banks as well as state member banks), Edge and agreement corporations, and bank holding companies. The proposed amendments would streamline foreign branching procedures for U.S. banking organizations, authorize expanded activities in foreign branches of U.S. banks, and implement recent statutory changes authorizing a bank to invest up to 20 percent of capital in surplus in Edge corporations. Changes also are proposed to the provisions governing permissible foreign activities of U.S. banking organizations, including securities activities, and investments by U.S. banking organizations under the general consent procedures and portfolio investments authority. Subpart B of Regulation K (Foreign Banking Organizations) governs the U.S. activities of foreign banking organizations. The proposed amendments include revisions aimed at streamlining the applications procedures applicable to foreign banks seeking to expand operations in the United States, changes to provisions regarding the qualification of certain foreign banking organizations for exemption from the nonbanking prohibitions of the section 4 of the Bank Holding Company Act (the BHC Act), and implementation of provisions of the Reigle-Neal Interstate Banking and Branching Efficiency Act of 1994 (the Interstate Act) that affect foreign banks. In addition, there are proposed a number of technical and clarifying amendments for Subparts A and B, as well as Subpart C, which deals with export trading companies, and certain amendments to the Board's Rules Regarding Delegation of Authority. | 1997-12-31 | 1997 | 12 | https://www.federalregister.gov/documents/1997/12/31/97-33411/international-banking-operations-rules-regarding-delegation-of-authority | https://www.govinfo.gov/content/pkg/FR-1997-12-31/pdf/97-33411.pdf | Federal Reserve System | 188 | Consistent with section 303 of the Riegle Community Development and Regulatory Improvement Act of 1994 (the Regulatory Improvement Act) and the International Banking Act of 1978 (the IBA), the Board has reviewed Regulation K, which governs... |