International Banking Act of 1978

E864724

United States federal statute banking law

The International Banking Act of 1978 is a U.S. federal law that brought foreign banks operating in the United States under similar regulatory standards as domestic banks, strengthening oversight and promoting competitive equality in the banking system.

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All labels observed (1)

Label	Occurrences
International Banking Act of 1978 canonical	1

Statements (46)

Predicate	Object
instanceOf	United States federal statute ⓘ banking law ⓘ
aimsTo	enhance safety and soundness of foreign bank operations in the United States ⓘ reduce regulatory arbitrage between foreign and domestic banks ⓘ
appliesTo	agencies of foreign banks in the United States ⓘ branches of foreign banks in the United States ⓘ commercial lending company subsidiaries of foreign banks ⓘ foreign banks operating in the United States ⓘ
country	United States of America ⓘ surface form: United States
effect	applied national treatment principles to foreign banks in the United States ⓘ established a framework for federal and state coordination in supervising foreign banks ⓘ extended certain Federal Reserve regulations to foreign bank operations in the United States ⓘ limited the ability of foreign banks to accept retail deposits through uninsured branches ⓘ required foreign banks to comply with U.S. capital equivalency requirements for certain operations ⓘ required foreign banks to maintain reserves with the Federal Reserve for certain deposits ⓘ required foreign banks to obtain federal licenses for branches and agencies ⓘ restricted interstate branching by foreign banks in line with rules for domestic banks at the time ⓘ subjected foreign bank branches and agencies to federal supervision and examination ⓘ
enforcedBy	Federal Deposit Insurance Corporation NERFINISHED ⓘ Federal Reserve System NERFINISHED ⓘ Office of the Comptroller of the Currency NERFINISHED ⓘ state banking departments ⓘ
field	banking regulation ⓘ financial regulation ⓘ
hasImpactOn	competitive conditions in the U.S. banking system ⓘ foreign bank market access in the United States ⓘ prudential oversight of foreign banking organizations ⓘ
jurisdiction	United States government ⓘ surface form: United States federal government
legislativeBody	United States Congress ⓘ
partOf	United States banking regulatory framework ⓘ
purpose	to promote competitive equality between foreign and domestic banks ⓘ to strengthen federal oversight of foreign bank operations in the United States ⓘ to subject foreign banks operating in the United States to similar regulatory standards as domestic banks ⓘ
regulator	Board of Governors of the Federal Reserve System NERFINISHED ⓘ Federal Deposit Insurance Corporation NERFINISHED ⓘ Office of the Comptroller of the Currency NERFINISHED ⓘ state banking regulators ⓘ
relatedTo	Bank Holding Company Act of 1956 NERFINISHED ⓘ Federal Deposit Insurance Act NERFINISHED ⓘ Federal Reserve Act NERFINISHED ⓘ
subject	competitive equality between foreign and domestic banks ⓘ deposit-taking activities of foreign banks ⓘ regulation of foreign bank agencies ⓘ regulation of foreign bank branches ⓘ reserve requirements for foreign banks ⓘ supervision and examination of foreign banks ⓘ

Referenced by (1)

Full triples — surface form annotated when it differs from this entity's canonical label.

Banking Code of the United States → includes → International Banking Act of 1978 ⓘ