Regulation K; Docket No. R-1143; International Banking Operations
Fed · other · Published 2003-02-19 · 68 FR 7898
Document
Document number
03-3643
Federal Register citation
68 FR 7898
CFR reference
12 CFR 211
Type
Rule
Action
Interpretation.
Category
other
Agency
US Federal Reserve System
Publication date
2003-02-19
Abstract
The Board of Governors of the Federal Reserve System has issued an interpretation concerning the underwriting by foreign banks of securities to be distributed in the United States. The interpretation clarifies that a foreign bank that wishes to engage in such activity must either be a financial holding company or have authority to engage in underwriting activity under section 4(c)(8) of the Bank Holding Company Act.