12 U.S.C. § 3904
Current through P.L. 118-107 (published on www.congress.gov on 11/21/2024)
The appropriate Federal banking agencies shall analyze the results of foreign loan rescheduling negotiations, assess the loan loss risk reflected in rescheduling agreements, and, using the powers set forth in section 3907 of this title (regarding capital adequacy), ensure that the capital and reserve positions of United States banks are adequate to accommodate potential losses on their foreign loans.
The appropriate Federal banking agencies shall promulgate regulations or orders necessary to implement this section within one hundred and twenty days after November 30, 1983.
12 U.S.C. § 3904
- banking institution
- the term "banking institution" means-(A)(i) an insured bank as defined in section 1813(h) of this title or any subsidiary of an insured bank;(ii) an Edge Act corporation organized under section 25(a) 1 of the Federal Reserve Act [ 12 U.S.C. 611 et seq.]; and(iii) an Agreement Corporation operating under section 25 of the Federal Reserve Act [ 12 U.S.C. 601 et seq.]; and(B) to the extent determined by the appropriate Federal banking agency, any agency or branch of a foreign bank, and any commercial lending company owned or controlled by one or more foreign banks or companies that control a foreign bank as those terms are defined in the International Banking Act of 1978 [ 12 U.S.C. 3101 et seq.]. The term "banking institution" shall not include a foreign bank.1 See References in Text note below.