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Board of Governors of the Federal Reserve System
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Board of Governors of the Federal Reserve System

Supervisory Policy and Guidance Topics

Foreign Banking Organization (FBO) Supervision

The Federal Reserve coordinates the supervisory program for the U.S. operations of foreign banking organizations with the other federal and state banking agencies. Since a foreign banking organization may have both federally and state-chartered offices in the United States, the Federal Reserve plays a key role in assessing the condition of the organization’s entire U.S. operations and the foreign banking organization’s ability to support its U.S. operations. In addition, under the Bank Holding Company Act and the International Banking Act, the Federal Reserve is responsible for approving, reviewing, and monitoring the U.S. nonbanking activities of foreign banking organizations that have a branch, agency, commercial lending company, or subsidiary bank in the United States.
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Policy Letters

Foreign Banking Organization (FBO) Supervision

SR 12-17 / CA 12-14
Consolidated Supervision Framework for Large Financial Institutions
SR 08-9 / CA 08-12
Consolidated Supervision of Bank Holding Companies and the Combined U.S. Operations of Foreign Banking Organizations
SR 02-2
Guidance on Monitoring Compliance with the Restrictions on Foreign Investments Contained in Regulation K and Guidance for Internationally Active Domestic Banking Organizations on Recordkeeping Requirements Regarding Foreign Investments
SR 01-1 (SUP)
Application of the Board's Capital Adequacy Guidelines to Bank Holding Companies owned by Foreign Banking Organizations
SR 00-14 (SUP)
Enhancements to the Interagency Program for Supervising the U.S. Operations of Foreign Banking Organizations
SR 99-31 (SUP)
Extended Examination Cycle for U.S. Branches and Agencies of Foreign Banks
SR 97-22 (SUP)
Report of Assets and Liabilities of U.S. Branches and Agencies of Foreign Banks ("FFIEC 002") - Filing Requirements for "Zero Assets" Branches and Agencies
SR 97-9 (SUP)
Revised Examination Guidelines for Representative Offices of Foreign Banks
SR 96-36 (SUP.IB)
Guidance on Evaluating Activities Under the Responsibility of U.S. Branches, Agencies and Nonbank Subsidiaries of Foreign Banking Organizations (FBOs)
SR 96-27 (SUP)
Guidance on Addressing Internal Control Weaknesses in U.S. Branches and Agencies of Foreign Banking Organizations through Special Audit Procedures
SR 95-42 (SUP.IB)
Allowance for Loan and Lease Losses for U.S. Branches and Agencies of Foreign Banking Organizations
SR 95-4 (SUP.IB)
Allowance for Loan and Lease Losses for U.S. Branches and Agencies of Foreign Banking Organizations
SR 93-26 (IB)
Applicability of the Interagency Policy Statement on Documentation of Loans to Small and Medium-sized Businesses and Farms to the Activities of U.S. Branches and Agencies of Foreign Banks
SR 93-7 (IB)
Adoption of Minimum Timing Standards for the Completion of International Examination Reports
SR 91-31
Guidance to Foreign Banks in Complying with New Deposit-Taking Restrictions
SR 90-22
Policy Statement on the Use of "Points" in Settling Foreign Exchange Contracts
SR 90-1
Examination of State Branches and Agencies of Foreign Banks for Compliance with Regulations Related to Government Securities Activities
 

Additional Resources

 

Manual References

Last update: January 23, 2013