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Foreign Bank Supervision Enhancement Act
(redirected from FBSEA)

   Also found in: Acronyms 0.01 sec.
Foreign Bank Supervision Enhancement Act
Legislation in the United States, passed in 1991, that gave the Federal Reserve the power to authorize (or not) foreign banks to operate in the U.S. This applied both to future foreign banks and those already in operation when the Act was passed.


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Our examinations were conducted after the passage of FBSEA in the context of a rapid buildup of examination staff in 1992 and 1993 to meet our new responsibilities under that act.
Our examinations were conducted after the passage of FBSEA in the context of a rapid buildup of examination staff in 1992 and 1993 to meet our new responsibilities under that act.
Although the Board believes that these provisions go too far, the Board believes that some provisions of FBSEA should be reevaluated--most notably the inflexible requirement that the Board may not approve an application unless a foreign bank is subject to comprehensive consolidated supervision by home country authorities.
 
 
 
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