12 CFR 347.203 - Deposit insurance required for all branches of foreign banks engaged in domestic retail deposit activity in the same State.

Regulations last checked for updates: Oct 17, 2024

Title 12 - Banks and Banking last revised: Oct 15, 2024

View all text of Subpart B [§ 347.201 - § 347.216]

§ 347.203 - Deposit insurance required for all branches of foreign banks engaged in domestic retail deposit activity in the same State.

The FDIC will not insure deposits in any branch of a foreign bank unless the foreign bank agrees that every branch established or operated by the foreign bank in the same state that engages in domestic retail deposit activity will be an insured branch.

authority: 12 U.S.C. 1813,1815,1817,1819,1820,1828,3103,3104,3105,3108,3109; Pub L. No. 111-203, section 939A, 124 Stat. 1376, 1887 (July 21, 2010) (codified 15 U.S.C. 78o-7 note)

source: 70 FR 17560, Apr. 6, 2005, unless otherwise noted.

cite as: 12 CFR 347.203