New Hampshire Revised Statutes 384-F:1 – Title and Purposes
Current as of: 2023 | Check for updates
|
Other versions
I. This chapter shall be known and may be cited as the “New Hampshire International Banking Act.”
II. This chapter is intended generally to provide for state regulation of the participation by foreign banks in the financial markets of this state.
III. Consistent with the federal International Banking Act, the Bank Holding Company Act, the Federal Deposit Insurance Act, and the Interstate Banking and Branching Efficiency Act, this chapter is intended specifically:
(a) To authorize banking activities and operations, under state licenses issued by the bank commissioner, of direct branch and agency offices in this state of foreign banks, generally under terms and conditions not less favorable than the terms and conditions under which such activities and operations may be conducted by federal branch or agency offices of foreign banks in the United States, and to set forth a statutory framework for the licensing, regulation, and supervision of such state-licensed offices of foreign banks by the bank commissioner to assure the safe and sound operation of such offices that are licensed under the laws of this state;
(b) To authorize representative offices in this state of foreign banks, and to set forth statutory provisions governing the licensing and supervision of such offices by the bank commissioner; and
(c) To ensure that the banking laws and regulations of this state otherwise apply to foreign banks, and to New Hampshire and out-of-state banks and bank holding companies that are owned or controlled by foreign banks, in a manner consistent with the laws and policies of the United States governing the operations in this country of foreign banks.
II. This chapter is intended generally to provide for state regulation of the participation by foreign banks in the financial markets of this state.
Terms Used In New Hampshire Revised Statutes 384-F:1
- Agency: when used in reference to an office of a foreign bank, shall have the same meaning as set forth in section 1(b)(1) of the federal International Banking Act (12 U. See New Hampshire Revised Statutes 384-F:2
- bank: as used in this chapter shall not in any event include a foreign bank or a branch or agency of a foreign bank. See New Hampshire Revised Statutes 384-F:2
- Bank Holding Company Act: means the federal Bank Holding Company Act of 1956, as amended (12 U. See New Hampshire Revised Statutes 384-F:2
- Branch: when used in reference to an office of a foreign bank, shall have the same meaning as set forth in section 1(b)(3) of the federal International Banking Act (12 U. See New Hampshire Revised Statutes 384-F:2
- Commissioner: means the New Hampshire bank commissioner. See New Hampshire Revised Statutes 384-F:2
- Federal branch: means a branch of a foreign bank that is licensed by the Comptroller of the Currency pursuant to the provisions of section 4 of the federal International Banking Act (12 U. See New Hampshire Revised Statutes 384-F:2
- Federal Deposit Insurance Act: means the Federal Deposit Insurance Act, as amended (12 U. See New Hampshire Revised Statutes 384-F:2
- Interstate Banking and Branching Efficiency Act: means the federal Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, Public Law No. See New Hampshire Revised Statutes 384-F:2
- State: has the same meaning as is set forth in section 3(a)(3) of the Federal Deposit Insurance Act (12 U. See New Hampshire Revised Statutes 384-F:2
- United States: when used in a geographical sense, means the several states, the District of Columbia, Puerto Rico, Guam, American Samoa, the American Virgin Islands, the Trust Territory of the Pacific Islands, and any other territory of the United States; and, when used in a political sense, means the federal government of the United States. See New Hampshire Revised Statutes 384-F:2
III. Consistent with the federal International Banking Act, the Bank Holding Company Act, the Federal Deposit Insurance Act, and the Interstate Banking and Branching Efficiency Act, this chapter is intended specifically:
(a) To authorize banking activities and operations, under state licenses issued by the bank commissioner, of direct branch and agency offices in this state of foreign banks, generally under terms and conditions not less favorable than the terms and conditions under which such activities and operations may be conducted by federal branch or agency offices of foreign banks in the United States, and to set forth a statutory framework for the licensing, regulation, and supervision of such state-licensed offices of foreign banks by the bank commissioner to assure the safe and sound operation of such offices that are licensed under the laws of this state;
(b) To authorize representative offices in this state of foreign banks, and to set forth statutory provisions governing the licensing and supervision of such offices by the bank commissioner; and
(c) To ensure that the banking laws and regulations of this state otherwise apply to foreign banks, and to New Hampshire and out-of-state banks and bank holding companies that are owned or controlled by foreign banks, in a manner consistent with the laws and policies of the United States governing the operations in this country of foreign banks.