2016 US Code
Title 12 - Banks and Banking
Chapter 6 - Foreign Banking
Subchapter I - Establishment by National Banks of Foreign Branches and Investments in Banks Doing Foreign Business
Sec. 604a - Regulations authorizing exercise by foreign branches of usual powers of local banks; restrictions
| 12 U.S.C. § 604a (2016) |
| §604a. Regulations authorizing exercise by foreign branches of usual powers of local banks; restrictions |
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Regulations issued by the Board of Governors of the Federal Reserve System under this subchapter, in addition to regulating powers which a foreign branch may exercise under other provisions of law, may authorize such a foreign branch, subject to such conditions and requirements as such regulations may prescribe, to exercise such further powers as may be usual in connection with the transaction of the business of banking in the places where such foreign branch shall transact business. Such regulations shall not authorize a foreign branch to engage in the general business of producing, distributing, buying or selling goods, wares, or merchandise; nor, except to such limited extent as the Board may deem to be necessary with respect to securities issued by any "foreign state" as defined in section 632 of this title, shall such regulations authorize a foreign branch to engage or participate, directly or indirectly, in the business of underwriting, selling, or distributing securities. |
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(Dec. 23, 1913, ch. 6, §25 (par.), as added Pub. L. 87–588, Aug. 15, 1962, 76 Stat. 388.) |
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REFERENCES IN TEXT
This subchapter, referred to in text, was in the original "this section", meaning section 25 of act Dec. 23, 1913, which is classified to this subchapter (§601 et seq.). CODIFICATIONSection is comprised of the seventh undesignated par. of section 25 of act Dec. 23, 1913, which comprises this subchapter. For classification of other pars. of section 25 of this Act, see Codification note under section 601 of this title. |
| United States Code, 2012 Edition, Supplement 4, Title 12 - BANKS AND BANKING |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 12 - BANKS AND BANKING CHAPTER 6 - FOREIGN BANKING SUBCHAPTER I - ESTABLISHMENT BY NATIONAL BANKS OF FOREIGN BRANCHES AND INVESTMENTS IN BANKS DOING FOREIGN BUSINESS Sec. 604a - Regulations authorizing exercise by foreign branches of usual powers of local banks; restrictions |
| section 604a |
| 2016 |
| January 6, 2017 |
| No |
| standard |
| 76 Stat. 388 |
| Public Law 87-588 |
