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.