Two wholly owned local subsidiaries of British banking giant Standard Chartered Bank and an agreement to manage the foreign banks retail business in the country are acquired by East West Banking Corp.
EastWest Bank in another disclosure updated the PSE that it signed into an agreement with Standard Chartered Bank Philippines under which credit cards, personal loans, wealth management and retail deposits of Standard Chartered Bank in the Philippines will be migrated to EastWest.
The other two federally chartered banks that operate in Alaska, Wells Fargo and KeyBank, do not produce Alaska-specific balance sheet information.
It is easy to see the relative size of state-chartered banks as compared to federally chartered banks in Alaska.
There are roughly 300 state chartered banks
in New York, The Bank of New York Mellon Corporation and Goldman Sachs among them.
Both the Bush and the Clinton Administrations recommended reorganizing financial supervision in order to permit nationally chartered banks
to perform securities and insurance services within "operating subsidiaries" that would be part of the bank and not subject to supervision by the Fed.
The services and infrastructure developed by Texas Capital Bank enabled it to grow organically in seven years from a newly chartered bank
Texas Capital is a highly successful middle-market commercial bank that has grown organically in seven years from a newly chartered bank
to $3 billion in assets.
In its March 2002 determination, the OCC concluded that the first three restrictions significantly interfered with and were preempted by Federal law as applied to the ability of nationally chartered banks
to sell insurance.
Until at least October 1, 2004, the Treasury Department is precluded by law from enacting another regulation promulgated by the Federal Reserve Board and Treasury that would allow federally chartered banks
to enter real estate brokerage and property management.
Such criteria is still applicable, including the assessment of additional credit enhancement, for loans originated in any jurisdiction by non-OTS-regulated entities and in Georgia by any entity which is not an OCC-regulated entity or a Georgia chartered bank
or savings association.