Foreign Banks/International Banking - 1997 Letters
July 21, 1997
To Mr. Bradley Sabel stating that investment in the Emerging Markets Clearing Corporation by foreign banks and bank holding companies would be permissible, based on the circumstances, under section 4(c)(6) of the Bank Holding Company Act, as applied to foreign banks by the International Banking Act (12 USC 3106).
May 20, 1997
Staff no action letter regarding certain reinsurance activities proposed to be conducted by a bank holding company through its offshore subsidiary, consistent with BHCA 4(c)(13), and section 211.5(d)(16) of Regulation K.