§347.213. Establishment or operation of noninsured foreign branch.
12 C.F.R. § 347.213
A foreign bank may establish or operate a state branch, as provided by state law, without federal deposit insurance whenever:
The branch only accepts initial deposits in an amount equal to the SMDIA or greater; or
[Reserved]
Notes, amendments, and revision history
Amendments
[70 FR 17560, Apr. 6, 2005, as amended at 74 FR 47718, Sept. 17, 2009]
Authority
Authority: 12 U.S.C. 1813, 1815, 1817, 1819, 1820, 1828, 3103, 3104, 3105, 3108, 3109; Pub L. No. 111-203, section 939A, 124 Stat. 1376, 1887 (July 21, 2010) (codified 15 U.S.C. 78o-7 note).
Source
Source: 70 FR 17560, Apr. 6, 2005, unless otherwise noted.
Amendments
[70 FR 17560, Apr. 6, 2005, as amended at 74 FR 47718, Sept. 17, 2009]