Foreign Bank Supervision Enhancement Act

(redirected from Foreign Bank Supervision Enhancement Act of 1991)

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.
References in periodicals archive ?
The Foreign Bank Supervision Enhancement Act of 1991, which amended the IBA, provides that a foreign bank must obtain the approval of the Board to establish a branch in the United States.
CMB is the first branch opened by a Chinese banking institution since the adoption of Foreign Bank Supervision Enhancement Act of 1991, turning a new chapter of market access of Chinese banks to the United States.
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