# Foreign Banks
> **US Federal Deposit Insurance Corporation** · Final rule. · Published 1996-02-14 · Effective 1996-04-01 · 61 FR 5671
## Document
- **Document number:** 96-3274
- **Category:** final-rule
- **Agency:** US Federal Deposit Insurance Corporation
- **Federal Register citation:** 61 FR 5671
- **CFR reference:** 12 CFR 346
- **Publication date:** 1996-02-14
- **Effective date:** 1996-04-01
## Abstract

Section 107 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (Riegle-Neal Act) amended section 6 of the International Banking Act of 1978 (IBA) to provide that the FDIC shall amend its regulation concerning domestic retail deposit activities by state-licensed branches of foreign banks. The final rule amends the FDIC's regulations to restrict the amount and types of initial deposits of less than $100,000 which can be accepted by an uninsured state-licensed branch of a foreign bank. The final rule is intended to afford equal competitive opportunities to foreign and domestic banks.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/1996/02/14/96-3274/foreign-banks)
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