Federal Deposit Insurance Corporation
550 17th Street NW, Washington, DC 20429 Division of Supervision
Foreign Banking Activities
FIL-69-97
July 17, 1997
TO: CHIEF EXECUTIVE OFFICER
SUBJECT: FDIC Seeks Comments on Proposal to Consolidate and Update Rules for
Foreign Banking Activities
The FDIC Board of Directors has proposed rules permitting well-managed state nonmember
banks with international operations to undertake a number of new activities without filing a
formal application. The proposed rules also clarify existing regulations for state-licensed insured
branches of foreign banks, and simplify regulations on accounting treatment for foreign lending
activities of state nonmember banks.
The FDIC's international rules, which have been on the books since 1979 without significant
revision, are divided into three separate parts. The proposal consolidates those rules into one
regulation and modernizes outmoded requirements to reflect interagency standards. It is
designed to allow state nonmember banks to compete effectively abroad. The FDIC will accept
comments on the proposed rules through September 15, 1997.
Attached is a copy of the Federal Register notice describing the proposed rule changes. For
further information, please contact Christie Sciacca, Assistant Director (202-898-3671), Karen
Walter, Chief-International (202-898-3540), or Suzanne Williams, Senior Financial Analyst (202-
898-6788), in the Division of Supervision; or Jamey Basham, Counsel (202-898-7265), Wendy
Sneff, Counsel (202-898-6865), or Karen Main, Senior Attorney (202-898-8838), in the Legal
Division.
Nicholas J. Ketcha Jr.
Director
Attachment: Federal Register, Vol. 62, No. 135, July 15, 1997, pp 37748-37778
Distribution: FDIC-Supervised Banks (Commercial and Savings)
NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's
Public Information Center, 801 17th Street, N.W., Room 100, Washington, D.C. 20434 ((703)
562-2200 or 800-276-6003). Electronic copies are available at the FDIC website: News, Events
& FOIAInactive
550 17th Street NW, Washington, DC 20429 Division of Supervision
Foreign Banking Activities
FIL-69-97
July 17, 1997
TO: CHIEF EXECUTIVE OFFICER
SUBJECT: FDIC Seeks Comments on Proposal to Consolidate and Update Rules for
Foreign Banking Activities
The FDIC Board of Directors has proposed rules permitting well-managed state nonmember
banks with international operations to undertake a number of new activities without filing a
formal application. The proposed rules also clarify existing regulations for state-licensed insured
branches of foreign banks, and simplify regulations on accounting treatment for foreign lending
activities of state nonmember banks.
The FDIC's international rules, which have been on the books since 1979 without significant
revision, are divided into three separate parts. The proposal consolidates those rules into one
regulation and modernizes outmoded requirements to reflect interagency standards. It is
designed to allow state nonmember banks to compete effectively abroad. The FDIC will accept
comments on the proposed rules through September 15, 1997.
Attached is a copy of the Federal Register notice describing the proposed rule changes. For
further information, please contact Christie Sciacca, Assistant Director (202-898-3671), Karen
Walter, Chief-International (202-898-3540), or Suzanne Williams, Senior Financial Analyst (202-
898-6788), in the Division of Supervision; or Jamey Basham, Counsel (202-898-7265), Wendy
Sneff, Counsel (202-898-6865), or Karen Main, Senior Attorney (202-898-8838), in the Legal
Division.
Nicholas J. Ketcha Jr.
Director
Attachment: Federal Register, Vol. 62, No. 135, July 15, 1997, pp 37748-37778
Distribution: FDIC-Supervised Banks (Commercial and Savings)
NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's
Public Information Center, 801 17th Street, N.W., Room 100, Washington, D.C. 20434 ((703)
562-2200 or 800-276-6003). Electronic copies are available at the FDIC website: News, Events
& FOIAInactive