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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. § 604a Regulations authorizing exercise by foreign branches of usual powers of local banks; restrictions us united_states_code code_section 12 BANKS AND BANKING 6 FOREIGN BANKING 604a 12 U.S.C. § 604a 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/s604a data/legal/raw/us/code/title-12/usc12.xml a6f19d44b9580eee1420e474e6a0be1014ae86b75374e99f4d245ffb70d80721 e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa c2d4959c63aab42813850f4913b63627879488b488eb46a8926593b2f33a881f 2026-07-04 official
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12 U.S.C. § 604a - Regulations authorizing exercise by foreign branches of usual powers of local banks; restrictions

Text

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. 87588, Aug. 15, 1962, 76 Stat. 388.)

Notes

Editorial Notes

References in TextThis 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.