Board of Governors of the Federal Reserve System

FR K-2
International Applications and Prior Notifications Under Subpart B of Regulation K

Form:

Current (280.7 KB .PDF)

Instructions:

Included with forms

Description:

The FR K-2 comprises a set of applications and notifications for foreign banking organizations seeking to open a branch, agency, or commercial lending company or representative office in the United States. The applications and notifications collect information on the operations, structure, and ownership of the applicant or notificant; the proposed office; the financial condition of the applicant or notificant; home country supervision; and the anti-money-laundering laws and regulations of the applicant or notificant's home country.

OMB Control Number:

7100-0284

Purpose:

Foreign banks are required to obtain the prior approval of the Federal Reserve to establish a branch, agency, or representative office; to acquire ownership or control of a commercial lending company in the United States; or to change the status of any existing office in the United States. The applications enable the Federal Reserve to fulfill its statutory obligations under the Federal Reserve Act and the Bank Holding Company Act of 1956 by providing the Federal Reserve with the information it needs to evaluate each of the proposed transactions.

Background:

Under the International Banking Act of 1978 (IBA) and under Regulation K, foreign banks are required to obtain the prior approval of the Board to establish a branch, agency, or representative office in the United States; to establish or acquire ownership or control of a commercial lending company in the United States; or to change the status of an agency or limited branch to a branch in the United States. The Board uses the information from the FR K-2 in connection with these applications and to supervise foreign banks with offices in the United States.

Respondent Panel:

Foreign Banking Organizations.

Frequency:

Event-generated.

Public Release:

None.

Historical