§ 28.14. Limitations based upon capital of a foreign bank.

155 words·~1 min read·/us/cfr/t12/s§ 28.14·

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(a)General. Any limitation or restriction based upon the capital of a national bank shall be deemed to refer, as applied to a Federal branch or agency, to the dollar equivalent of the capital of the foreign bank.

(b)Calculation. Unless otherwise provided by the OCC, a foreign bank must calculate its capital in a manner consistent with 12 CFR part 3, subpart C, for purposes of this section.

(c)Aggregation. The foreign bank shall aggregate business transacted by all Federal branches and agencies with the business transacted by all state branches and state agencies controlled by the foreign bank in determining its compliance with limitations based upon the capital of the foreign bank. The foreign bank shall designate one Federal branch or agency office in the United States to maintain consolidated information so that the OCC can monitor compliance. [61 FR 19532, May 2, 1996, as amended at 79 FR 11312, Feb. 28, 2014]

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§ 28.14

Limitations based upon capital of a foreign bank.

Fed. Reg.×22

C.F.R.×2

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