Title 12, Chapter 6 — Foreign Banking

Authorization; conditions and regulations

Reports and examinations

Restrictions imposed by Board of Governors of the Federal Reserve System on banks purchasing stock in corporations doing foreign business

Accounts of foreign branches; profit and loss

Regulations authorizing exercise by foreign branches of usual powers of local banks; restrictions

Repealed. Aug. 23, 1935, ch. 614, title III, § 329, 49 Stat. 717

Formation authorized; fiscal agents; depositaries in insular possessions

Statement of purposes; rules and regulations

Articles of association; contents

Signing of articles of association; forwarding to and filing by Board of Governors of the Federal Reserve System; organization certificate; contents

Organization certificate; acknowledgment; forwarding to, filing, and approval by Board of Governors of the Federal Reserve System; permit to do business; body corporate; name; seal; corporate succession; contracts; suits; directors, officers, and employees; bylaws

Powers of corporation

Place of carrying on business; when business may be begun

Engaging in commerce or trade in commodities; price fixing; forfeiture of charter; acts forbidden to directors, officers, agents, or employees

Capital stock; amount; when paid in

Capital stock; by whom held; ownership of capital stock by foreign bank

Members of Board of Governors of the Federal Reserve System without interest in corporation

Liability of shareholders on unpaid subscriptions; membership of corporation in Federal reserve bank prohibited

Forfeiture of rights and privileges; dissolution; liability of directors and officers

Voluntary liquidation

Appointment of receiver or conservator

Stockholders’ meetings; books and records; reports; examination

Dividends; surplus fund

State taxation

Extension of corporate existence

Conversion of banking corporations into Federal corporations; procedure

Offenses by officers of corporation; punishment

False representations as to liability of United States for acts of corporation; punishment

Jurisdiction of United States courts; disposition by banks of foreign owned property

Potential liability on foreign accounts

Powers and functions of Bank

Management of Bank

Export credit competition

Implementation of regulations and procedures to lessen adverse effect of loans and guarantees on industries in United States; report by United States International Trade Commission; written consideration of views of adversely affected parties

Export-Import Bank financing to match foreign financing

Guarantees for export accounts receivable and inventory

Negotiations to end export credit financing

Periodic audits of bank transactions

Independent audit of bank portfolio

Capitalization of Bank; method of capital stock payments; public-debt transactions; issuance of stock certificates

Repealed. Pub. L. 102–429, title I, § 121(c)(1), Oct. 21, 1992, 106 Stat. 2199

Issuance of debentures, bonds, etc.; obligations redeemable; payment of interest; obligations purchasable by Secretary of the Treasury; public-debt transactions

Aggregate loan, guarantee, and insurance authority

Termination date of Bank’s functions; exceptions; liquidation

Report to Congress; time for submission; contents

Annual competitiveness report

Exemption from prohibition of section 955 of title 18

Repealed. Pub. L. 102–429, title I, § 121(c)(1), Oct. 21, 1992, 106 Stat. 2199

Tied Aid Credit Fund and program

Repealed. Pub. L. 102–429, title I, § 121(c)(1), Oct. 21, 1992, 106 Stat. 2199

Environmental policy and procedures

Debt reduction; Enterprise for the Americas Initiative

Cooperation on export financing programs

Special debt relief for poorest, most heavily indebted countries

Market windows

Export financing program to foster foreign trade and commercial interest of the United States

Apportionment of losses incurred on loans, guarantees, and insurance; reimbursement; contingent obligations

Authorization for appropriation of funds for losses

Loans, guarantees, and insurance subject to the provisions of this chapter

Prohibition of loans, guarantees, and insurance as to sales of defense articles or services

Congressional statement of purpose

Presidential mandate to negotiate; objectives

Establishment of tied aid credit program in United States Export-Import Bank

Establishment of tied aid credit program administered by Trade and Development Agency

Implementation

Definitions