[Code of Federal Regulations]
[Title 12, Volume 2]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 12CFR211.1]

[Page 345-346]
 
                       TITLE 12--BANKS AND BANKING
 
                   CHAPTER II--FEDERAL RESERVE SYSTEM
 
PART 211--INTERNATIONAL BANKING OPERATIONS (REGULATION K)--Table of Contents
 
    Subpart A--International Operations of U.S. Banking Organizations
 
Sec. 211.1  Authority, purpose, and scope.

    Source: 66 FR 54374, Oct. 26, 2001, unless otherwise noted.


    (a) Authority. This subpart is issued by the Board of Governors of 
the Federal Reserve System (Board) under the authority of the Federal 
Reserve Act (FRA) (12 U.S.C. 221 et seq.); the Bank Holding Company Act 
of 1956 (BHC Act) (12 U.S.C. 1841 et seq.); and the International 
Banking Act of 1978 (IBA) (12 U.S.C. 3101 et seq.).
    (b) Purpose. This subpart sets out rules governing the international 
and foreign activities of U.S. banking organizations, including 
procedures for establishing foreign branches and Edge and agreement 
corporations to engage in international banking, and for investments in 
foreign organizations.
    (c) Scope. This subpart applies to:
    (1) Member banks with respect to their foreign branches and 
investments

[[Page 346]]

in foreign banks under section 25 of the FRA (12 U.S.C. 601-604a);\1\ 
and
---------------------------------------------------------------------------

    \1\ Section 25 of the FRA (12 U.S.C. 601-604a), which refers to 
national banking associations, also applies to state member banks of the 
Federal Reserve System by virtue of section 9 of the FRA (12 U.S.C. 321)
---------------------------------------------------------------------------

    (2) Corporations organized under section 25A of the FRA (12 U.S.C. 
611-631) (Edge corporations);
    (3) Corporations having an agreement or undertaking with the Board 
under section 25 of the FRA (12 U.S.C. 601-604a) (agreement 
corporations); and
    (4) Bank holding companies with respect to the exemption from the 
nonbanking prohibitions of the BHC Act afforded by section 4(c)(13) of 
that act (12 U.S.C. 1843(c)(13)).