Form Fr K-2 - International Applications And Prior Notifications Under Subpart B Of Regulation K - Board Of Governors Of The Federal Reserve System Page 7
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18FR K-2
Page 7
Attachment A
Information Requested in Connection with Applications by Foreign Banks to Establish Branches, Agencies, and Commercial Lending
Companies in the United States (section 211.24(a)(1) of Regulation K)
I. Operations, Structure, and Ownership of
b. The biographical information requested in the Interagency
Applicant
Biographical and Financial Report FR 2081c (the Financial
Report need not be provided). This information may be sub-
mitted in advance of the application.
1.
Discuss whether Applicant engages directly in the business
of banking outside the United States. In this regard, Applicant
8.
Describe the methods used by Applicant to monitor and control
should address whether it engages directly in banking activi-
its operations, including those of its domestic and foreign sub-
ties usual in connection with the business of banking in the
sidiaries and offi ces (e.g., through internal reports and internal
countries in which it is organized or operates.
audits). Note the scope and frequency of those methods and
whether the methods are subject to review by external auditors
2.
Provide a copy of Applicant’s most recent annual report to
and/or the home-country supervisor. Also, state whether inter-
shareholders and a brief history of Applicant, including ranking
nal audit results are shared with the home-country supervisor
by asset size in the home country.
and/or Applicant’s external auditors.
3.
Provide a brief summary of Applicant’s experience in inter-
9.
If Applicant, its ultimate parent, or any company (banking or
national banking. The discussion should include a general
description of the volume and character of the Applicant’s
nonbanking) in which it has direct or indirect ownership or control
current international business and the location, number, and
of more than 5 percent of the voting shares will engage directly
asset size of direct offi ces overseas.
or indirectly at the time of consummation of this proposal in any
nonbanking activities in the United States, provide the following:
4.
Provide an organization chart for Applicant and its ultimate
a. The name, location, and a detailed description of the activi-
2
parent,
if any, showing all subsidiaries of Applicant and
ties of each such company;
its ultimate parent. Include the place of incorporation for all
subsidiaries.
b. The specifi c section and paragraph of the Bank Holding
Company Act (the ‘‘BHCA’’), Regulation Y, or Regulation K
5.
Provide the name, asset size, general activities, and owner-
that the Applicant believes provides authority for the
ship share held by Applicant for each of Applicant’s direct and
acquisition or retention of each U.S. nonbanking activity and
indirect subsidiaries that comprise 1 percent or more of Appli-
a description demonstrating that each activity will be con-
cant’s worldwide consolidated assets.
ducted consistent with the Board’s regulations and related
interpretations. If the Applicant has relied on the nonbank-
6.
List all persons (natural as well as legal) in the upstream chain
ing exemptions afforded by sections 2(h) and 4(c)(9) of the
of ownership of the Applicant who, directly or indirectly, own
BHCA (as implemented by section 211.23 of Regulation K)
5 percent or more of the voting shares of the Applicant and
for certain activities, provide the necessary information to
its ultimate parent, if any. Provide information concerning any
support such a determination.
voting agreements or other mechanisms that exist among
shareholders for the exercise of control over the Applicant or
To the extent the information requested in this item has been
its ultimate parent.
provided to the Federal Reserve in other report forms (e.g.,
FR Y-7, FR Y-10) fi led with the Federal Reserve, Applicant
7.
Provide the following information on the two individuals with the
may include such information by reference to those fi lings.
most senior decision-making authority for Applicant and any
foreign bank parent, and for the manager of the proposed U.S.
10. State whether the foreign bank Applicant and its ultimate par-
offi ce:
ent, if any, upon establishment of the proposed branch, agency,
or commercial lending company, each would be a qualifying
a. Titles or positions with Applicant and/or parent bank; and
foreign banking organization as defi ned in section 211.23(a)
of Regulation K and provide the necessary information to sup-
port such a determination. If a foreign bank Applicant meets
the requirements of section 211.23(a) but its ultimate parent
does not, indicate whether the ultimate parent would satisfy
2. The ‘‘ultimate parent’’ of a foreign bank is the parent of the foreign bank
the requirements set forth in section 211.23(c) of Regulation
that is not the subsidiary of any other company. A ‘‘parent’’ of a foreign
bank is any company of which the foreign bank is a subsidiary. A ‘‘sub-
K, and provide the necessary information to support that deter-
sidiary’’ of a foreign bank is defi ned as any organization 25 percent
mination. To the extent the information requested in this item
or more of whose voting shares are directly or indirectly owned, con-
has been provided in other report forms (FR Y-7) fi led with the
trolled, or held with the power to vote by a company or any organization
Federal Reserve, Applicant may include such information by
that is otherwise controlled or capable of being controlled by a foreign
reference to those fi lings.
bank or foreign banking organization.
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