CFR > Title 12 - Banks and Banking > CHAPTER III—FEDERAL DEPOSIT INSURANCE CORPORATION > SUBCHAPTER B—REGULATIONS AND STATEMENTS OF GENERAL POLICY (parts 323 to 371) > PART 347—INTERNATIONAL BANKING > SUBPART B—Foreign Banks (§347.201 to §347.216) > 347.213—Establishment or operation of noninsured foreign branch.

347.213—Establishment or operation of noninsured foreign branch.

(a) A foreign bank may establish or operate a state branch, as provided by state law, without federal deposit insurance whenever:
(1) The branch only accepts initial deposits in an amount equal to the SMDIA or greater; or
(2) The branch meets the criteria set forth in §§ 347.214 or 347.215.
(b) [Reserved]

Code of Federal Regulations

[70 FR 17560, Apr. 6, 2005, as amended at 74 FR 47718, Sept. 17, 2009]