[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: 12CFR211.11]

[Page 362]
 
                       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. 211.11  Advisory opinions under Regulation K.

    (a) Request for advisory opinion. Any person may submit a request to 
the Board for an advisory opinion regarding the scope of activities 
permissible under any subpart of this part.
    (b) Form and content of the request. Any request for an advisory 
opinion under this section shall be:
    (1) Submitted in writing to the Board;
    (2) Contain a clear description of the proposed parameters of the 
activity, or the service or product, at issue; and
    (3) Contain a concise explanation of the grounds on which the 
submitter contends the activity is or should be considered by the Board 
to be permissible under this part.
    (c) Response to request. In response to a request received under 
this section, the Board shall:
    (1) Direct the submitter to provide such additional information as 
the Board may deem necessary to complete the record for a full 
consideration of the issue presented; and
    (2) Provide an advisory opinion within 45 days after the record on 
the request has been determined to be complete.