International Banking Act

(redirected from International Banking Act of 1978)

International Banking Act

Legislation in the United States, passed in 1978, that requires American branches of foreign banks to abide by the same regulations as U.S. banks. While this increases regulation by mandating capital adequacy requirements and so forth, it provides FDIC insurance to foreign banks.
References in periodicals archive ?
The rule covers a variety of banking entities, including (i) any insured depository institution, (ii) any company that controls an insured depository institution, (iii) any company that is treated as a bank holding company for purposes of Section 8 of the International Banking Act of 1978, and (iv) any affiliate or subsidiary of any of the aforementioned entities, such as a broker-dealer (collectively, banks).
Federation des caisses Desjardins du Quebec ("Federation"), Levis, Canada, has applied under section 7(d) of the International Banking Act of 1978 ("IBA") (1) to establish a federally licensed branch in Hallandale, Florida, as part of a corporate reorganization of its existing banking operations.
He also served as Deputy General Counsel and an alternate member of the Federal Open Market Committee, a staff member of the President's Working Group on Financial Markets that was created in the aftermath of the 1987 financial markets crisis, a member of the Committee on Payments and Settlement Systems of the G-10 central bank governors, legal advisor to the Basel Committee on Banking Supervision, and one of the principal drafters of the US International Banking Act of 1978.
Key laws affecting the Federal Reserve include the Banking Act of 1935; the Employment Act of 1946; the 1970 amendments to the Bank Holding Company Act; the International Banking Act of 1978; the Full Employment and Balanced Growth Act of 1978; the Depository Institutions Deregulation and Monetary Control Act of 1980; the Financial Institutions Reform, Recovery, and Enforcement Act of 1989; and the Federal Deposit Insurance Corporation Improvement Act of 1991.
For the purpose of this study, banking entities include insured depository institutions and any company that controls an insured depository institution or is treated as a bank holding company under the International Banking Act of 1978. The study also covers any affiliate or subsidiary of such companies.
Royal Bank of Canada, Montreal, Canada ("RBC"), a foreign bank within the meaning of the International Banking Act of 1978 ("IBA"), has applied under section 7(d) of the IBA (1) to establish a limited federal branch in Jersey City, New Jersey.
("TBB"), Taipei, Taiwan, a foreign bank within the meaning of the International Banking Act of 1978 ("IBA"), has applied under section 7(d) of the IBA (1) to establish a state-licensed branch in New York, New York.
Taiwan Cooperative Bank, Ltd., Taipei, Taiwan ("Taiwan Cooperative"), a foreign bank within the meaning of the International Banking Act of 1978 ("IBA"), has applied under section 7(d) of the IBA (1) to establish a state-licensed branch in New York, New York.
(1) As the parent company of a foreign bank operating an agency in the United States, HFG is subject to the BHC Act by operation of section 8(a) of the International Banking Act of 1978 (12 U.S.C.
(1.) As a foreign bank operating a branch and representative offices in the United States, UniCredito is subject to certain provisions of the BHC Act by operation of section 8(a) of the International Banking Act of 1978 (12 U.S.C.
(1.) As a foreign banking organization operating a branch in the United States, San Paolo-IMI is subject to certain provisions of the BHC Act pursuant to section 8(a) of the International Banking Act of 1978. 12 U.S.C.
branches and agencies of foreign banks with reservable liabilities gained access to the discount window under the International Banking Act of 1978.

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