§3104. Insurance of deposits — Inbound Citations
12 U.S.C. § 3104
Cited by 2 provisions in release 119-102.
Citations to 12 U.S.C. § 3104 as a whole
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(E) an insured branch which is required to be insured under subsection (a) or (b)1 of section 3104 of this title,
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(1) Upon the opening of a Federal branch or agency in any State and thereafter, a foreign bank, in addition to any deposit requirements imposed under section 3104 of this title, shall keep on deposit, in accordance with such rules and regulations as the Comptroller may prescribe, with a member bank designated by such foreign bank, dollar deposits or investment securities of the type that may be held by national banks for their own accounts pursuant to paragraph “Seventh” of section 24 of this title, in an amount as hereinafter set forth. Such depository bank shall be located in the State where such branch or agency is located and shall be approved by the Comptroller if it is a national bank and by the Board of Governors of the Federal Reserve System if it is a State Bank.