6-191. Foreign banking offices; additional
powers; separate accounts; additional offices; definition
A. In addition to its other powers, a bank may through any foreign banking office
act as fiscal agent of the United States and, except as prohibited or limited by
regulations of the superintendent, exercise such powers as are usual in connection with
the business of banking in the places where such foreign banking office transacts its
business.
B. The accounts of each foreign banking office shall be maintained independently of
the accounts of all other banking offices and the profit or loss of the office for each
fiscal year shall be recorded as a separate item in the general ledger of the bank.
C. A bank having a foreign banking office may, on thirty days' notice to the
superintendent or such shorter notice as may be approved by him in individual cases,
establish such additional banking office or offices as specified in the notice in the
same country without filing an application for approval, unless otherwise ordered by the
superintendent.
D. For the purposes of this section, the term "foreign banking office" means a
banking office in a foreign country or in a dependency or insular possession of the
United States.
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