Foreign Banks
About the Release
The data covers the U.S. offices of foreign banking organizations that are located in the 50 states and the District of Columbia. Offices located in Puerto Rico, American Samoa, Guam, the Virgin Islands and other U.S.-affiliated insular areas are excluded. Foreign-owned institutions are those owned by a bank located outside of the United States and its affiliated insular areas.
The Federal Reserve collects the data from the quarterly Call Report (Report of Condition and Income), which is administered on behalf of the federal bank regulatory agencies by the Federal Financial Institutions Examination Council. Federal legislation (the International Banking Act of 1978) requires the collection of the data.
The U.S. offices of foreign banking organizations consist of
- U.S. branches and agencies of foreign banks.
- Bank subsidiaries of foreign banking organizations are U.S. commercial banks of which more than 25 percent is owned by a foreign banking organization or where the relationship is reported as being a controlling relationship by the filer of the FR Y-10 (Report of Changes in Organizational Structure) report form.
- Foreign banking organization ownership of Edge Act and agreement corporations is also a self-reported item on the FR Y-10 report form.
- U.S. representative offices of foreign banks (but these have no financial data).
- New York State investment companies owned by foreign banking organizations.
In part 2 of the structure data, each U.S. office of a foreign banking organization is listed by the country of the foreign bank that operates the direct U.S. office or owns the U.S. subsidiary. In cases where there are multiple layers of ownership of the foreign bank parent, the structure reports also identify the “top-tier” foreign parent and the home country of that top-tier parent. In some cases, there may be multiple top-tier parents that own and control a foreign bank that in turn has offices in the U.S. In these cases, the structure reports only list the U.S. office one time. Only one top-tier parent is listed.