12 CFR 28.3 – Filing requirements for foreign operations of a national bank
(a) Notice requirement. A national bank shall notify the OCC when it:
Terms Used In 12 CFR 28.3
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
(1) Files an application, notice, or report with the FRB to:
(i) Establish or open a foreign branch;
(ii) Acquire or divest of an interest in, or close, an Edge corporation, Agreement corporation, foreign bank, or other foreign organization; or
(2) Opens a foreign branch, and no application or notice is required by the FRB for such transaction.
(b) Other applications and notices accepted. In lieu of a notice under paragraph (a)(1) of this section, the OCC may accept a copy of an application, notice, or report submitted to another Federal agency that covers the proposed action and contains substantially the same information required by the OCC.
(c) Additional information. A national bank shall furnish the OCC with any additional information the OCC may require in connection with the national bank’s foreign operations.