§28.4. Permissible activities.
12 C.F.R. § 28.4
General. Subject to the applicable approval process, if any, a national bank may engage in any activity in a foreign country that is:
Permissible for a national bank in the United States; and
Usual in connection with the business of banking in the country where it transacts business.
Additional activities. In addition to its general banking powers, a national bank may engage in any activity in a foreign country that is permissible under the FRB's Regulation K, 12 CFR part 211.
Foreign operations guarantees. A national bank may guarantee the deposits and other liabilities of its Edge corporations and Agreement corporations and of its corporate instrumentalities in foreign countries.
Notes, amendments, and revision history
Authority
Authority: 12 U.S.C. 1 et seq., 24(Seventh), 93a, 161, 602, 1818, 3101 et seq., and 3901 et seq.
Source
Source: 61 FR 19532, May 2, 1996, unless otherwise noted.