12 CFR 28.4 – Permissible activities
Current as of: 2024 | Check for updates
|
Other versions
(a) General. Subject to the applicable approval process, if any, a national bank may engage in any activity in a foreign country that is:
Terms Used In 12 CFR 28.4
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- 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) Permissible for a national bank in the United States; and
(2) Usual in connection with the business of banking in the country where it transacts business.
(b) Additional activities. In addition to its general banking powers, a national bank may engage in any activity in a foreign country that is permissible under the FRB’s Regulation K, 12 CFR part 211.
(c) Foreign operations guarantees. A national bank may guarantee the deposits and other liabilities of its Edge corporations and Agreement corporations and of its corporate instrumentalities in foreign countries.