[October 29, 1997 (Volume 62, Number 209)]
[Unified Agenda]
From the Federal Register Online via GPO Access [frwais.access.gpo.gov]
[Page 58410]
FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) Final Rule Stage
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4298. <bullet> INTERNATIONAL BANKING
Priority: Substantive, Nonsignificant
Legal Authority: 12 USC 378; 12 USC 1813; 12 USC 1815; 12 USC 1816; 12
USC 1817(j); 12 USC 1818; 12 USC 1819 (Seventh and Tenth); 12 USC 1828;
12 USC 1831e; 12 USC 1831o; 12 USC 1831p-1; 15 USC 1607
CFR Citation: 12 CFR 347; 12 CFR 325; 12 CFR 326; 12 CFR 327; 12 CFR
346; 12 CFR 303; 12 CFR 351; 12 CFR 362
Legal Deadline: None
Abstract: This regulatory action revises and consolidates the FDIC's
three different groups of rules and regulations governing international
banking. The first group governs insured branches of foreign banks and
specifies what deposit-taking activities are permissible for uninsured
state-licensed branches of foreign banks. The second group governs the
foreign branches of insured state nonmember banks, and also governs
such banks' investment in foreign banks or other financial entities.
The third group governs the international lending of insured state
nonmember banks and specifies when reserves are required for particular
international assets. This action is the result of a CDRI section
303(a) review.
Timetable:
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Action Date FR Cite
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NPRM 07/15/97 62 FR 37748
NPRM Comment Period End 09/15/97
Final Action 05/00/98
Small Entities Affected: None
Government Levels Affected: None
Agency Contact: Christie A. Sciacca, Assistant Director, Division of
Supervision, Federal Deposit Insurance Corporation
Phone: 202 898-3671
RIN: 3064-AC05
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