12-U.S.C.-604A

12-U.S.C.-604A

§604A – Regulations Authorizing Exercise By Foreign Branches of Usual Powers of Local Banks; Restrictions

Pathway

Title 12 > Chapter 6 > Subchapter I > Section 604a

Details

  • Reference: Section 604a
  • Legend: §604A – Regulations Authorizing Exercise By Foreign Branches of Usual Powers of Local Banks; Restrictions
  • USCode Year: 2013

Provision Content

Regulations issued by the Board of Governors of the Federal Reserve System under this subchapter, in addition to regulating powers which a foreign branch may exercise under other provisions of law, may authorize such a foreign branch, subject to such conditions and requirements as such regulations may prescribe, to exercise such further powers as may be usual in connection with the transaction of the business of banking in the places where such foreign branch shall transact business. Such regulations shall not authorize a foreign branch to engage in the general business of producing, distributing, buying or selling goods, wares, or merchandise; nor, except to such limited extent as the Board may deem to be necessary with respect to securities issued by any foreign state as defined in section 632 of this title, shall such regulations authorize a foreign branch to engage or participate, directly or indirectly, in the business of underwriting, selling, or distributing securities.

(Dec. 23, 1913, ch. 6, §25 (par.), as added Pub. L. 87–588, Aug. 15, 1962, 76 Stat. 388.)

References in Text

This subchapter, referred to in text, was in the original this section, meaning section 25 of act Dec. 23, 1913, which is classified to this subchapter (§601 et seq.).

Codification

Section is comprised of the seventh undesignated par. of section 25 of act Dec. 23, 1913, which comprises this subchapter. For classification of other pars. of section 25 of this Act, see Codification note under section 601 of this title.

U.S. Encyclopedia of Law Coverage

12-U.S.C.-602 in the Legal Encyclopedia: Banking Law

In this entry about 12-U.S.C.-602, find legal reference material, bibliographies and premiere content related to banking law in the American Encyclopedia of Law, presenting a comprehensive view of the United States banking law-specific issues, written by authorities in the field.

12-U.S.C.-2901 in the Legal Encyclopedia: Investment

In this entry about 12-U.S.C.-2901, find legal reference material, bibliographies and premiere content related to investment in the American Encyclopedia of Law, presenting a comprehensive view of the United States investment-specific issues, written by authorities in the field.

Title 12 – Banks And Banking in the Legal Encyclopedia: Foreign Banking

In this entry about Title 12 – Banks And Banking, find legal reference material, bibliographies and premiere content related to foreign banking in the American Encyclopedia of Law, presenting a comprehensive view of the United States foreign banking-specific issues, written by authorities in the field.

12-U.S.C.-5706 in the Legal Encyclopedia: Business

In this entry about 12-U.S.C.-5706, find legal reference material, bibliographies and premiere content related to business in the American Encyclopedia of Law, presenting a comprehensive view of the United States business-specific issues, written by authorities in the field.

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