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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 12 U.S.C. § 633 Potential liability on foreign accounts us united_states_code code_section 12 BANKS AND BANKING 6 FOREIGN BANKING 633 12 U.S.C. § 633 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip /us/usc/t12/s633 data/legal/raw/us/code/title-12/usc12.xml 4ef613662195ac4ed2219253f671124a17861d0e5aa1c88fc5f674319f07e9ee e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa 8f6f18cc542509250a697cfe3199ff644bdaedf232e52f83fbe78eb123878058 2026-07-04 official
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12 U.S.C. § 633 - Potential liability on foreign accounts

Text

(a) Exceptions from repayment requirement A member bank shall not be required to repay any deposit made at a foreign branch of the bank if the branch cannot repay the deposit due to—

(1) an act of war, insurrection, or civil strife; or

(2) an action by a foreign government or instrumentality (whether de jure or de facto) in the country in which the branch is located;

unless the member bank has expressly agreed in writing to repay the deposit under those circumstances.

(b) Regulations The Board and the Comptroller of the Currency may jointly prescribe such regulations as they deem necessary to implement this section.

(Dec. 23, 1913, ch. 6, § 25C, as added Pub. L. 103325, title III, § 326(a), Sept. 23, 1994, 108 Stat. 2229.)

Notes

Editorial Notes

Codification Section was enacted as section 25C of the Federal Reserve Act, and not as part of section 25A of that Act which comprises this subchapter.

Statutory Notes and Related Subsidiaries

Existing Claims Not AffectedPub. L. 103325, title III, § 326(c), Sept. 23, 1994, 108 Stat. 2229, provided that: “Section 25C of the Federal Reserve Act [this section] (as added by subsection (a)) shall not be applied retroactively and shall not be construed to affect or apply to any claim or cause of action addressed by that section arising from events or circumstances that occurred before the date of enactment of this Act [Sept. 23, 1994].”