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e-CFR data is current as of September 17, 2020

Title 12Chapter IIISubchapter BPart 347Subpart B → §347.213


Title 12: Banks and Banking
PART 347—INTERNATIONAL BANKING
Subpart B—Foreign Banks


§347.213   Establishment or operation of noninsured foreign branch.

(a) A foreign bank may establish or operate a state branch, as provided by state law, without federal deposit insurance whenever:

(1) The branch only accepts initial deposits in an amount equal to the SMDIA or greater; or

(2) The branch meets the criteria set forth in §347.214 or §347.215.

(b) [Reserved]

[70 FR 17560, Apr. 6, 2005, as amended at 74 FR 47718, Sept. 17, 2009]

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