International Operations of United States Banking Operations — 1995-09-25 [95-23670]

The Board is publishing for comment proposed amendments to Subpart A of Regulation K (International Operations of U.S. Banking Operations). The amendments provide additional general consent authority for de novo investments in foreign companies by U.S. banking organizations that are strongly capitalized and well managed. This expanded general consent authority is designed to permit U.S. banking organizations meeting these requirements to make certain investments without the need for prior approval or review. In order to strike a reasonable balance, however, between reduced regulatory burden and continued Board oversight, the amendments would impose aggregate limits on the total amount of general consent investments that may be made in the course of a year. In addition, certain investments or activities would not be eligible for the expanded authority. The proposed rule would require an investor making use of the expanded authority to provide the Board with a post-investment notice.