International Applications and Prior Notifications under Subparts A and C of Regulation K
The FR K-1 comprises a set of applications and notifications for banking organizations to establish foreign branches or Edge or agreement corporations, to invest in other foreign organizations, or to engage in new activities. They collect financial and managerial information and information on the company to be acquired or the activities to be engaged in.
Purpose: The Federal Reserve requires these applications for regulatory and supervisory purposes and to allow the Federal Reserve to fulfill its statutory obligations under the Federal Reserve Act and the Bank Holding Company Act of 1956. The applications provide the Federal Reserve with information necessary to evaluate each of the proposed transactions.
Sections 25 and 25A of the Federal Reserve Act and sections 4(c)(13) and 4(c)(14) of the Bank Holding Company Act govern the formation of Edge corporations and the international and foreign activities of U.S. banking organizations, including those of national banks, state member banks, Edge corporations, and bank holding companies. Federal Reserve Regulation K sets forth the procedures for making investments and engaging in activities under these statutes.
Commercial banks, Edge and agreement corporations, bank holding companies, and other eligible investors.
Last Update: April 2, 2015