Page:United States Statutes at Large Volume 105 Part 3.djvu/406

 105 STAT. 2290 PUBLIC LAW 102-242—DEC. 19, 1991 (b) STANDARDS FOR APPROVAL OF FEDERAL BRANCHES AND AGEN- CIES. —Section 4(a) of the International Banking Act of 1978 (12 U.S.C. 3102(a)) is amended— (1) by striking "(a) Except as provided in section 5," and inserting "(a) ESTABLISHMENT AND OPERATION OF FEDERAL BRANCHES AND AGENCIES. — "(1) INITIAL FEDERAL BRANCH OR AGENCY. —Except as provided in section 5,"; and (2) by adding at the end the following new paragraph: "(2) BOARD CONDITIONS REQUIRED TO BE INCLUDED. —In considering any application for approval under this subsection, the Comptroller of the Currency shall include any condition imposed by the Board under section 7(d)(5) as a' condition for the approval of such application by the agency.". (c) STANDARDS FOR APPROVAL OF ADDITIONAL FEDERAL BRANCHES AND AGENCIES. — Section 4(h) of the International Banking Act of 1978 (12 U.S.C. 3102(h)) is amended— (1) by redesignating paragraphs (1) and (2) as subparagraphs (A) and (B), respectively; (2) by striking "(h) A foreign bank" and inserting "(h) ADDI- TIONAL BRANCHES OR AGENCIES. — "(1) APPROVAL OF AGENCY REQUIRED.— A foreign bank"; and (3) by adding at the end the following new paragraph: "(2) NOTICE TO AND COMMENT BY BOARD.— The Comptroller of the Currency shall provide the Board with notice and an opportunity for comment on any application to establish an additional Federal branch or Federal agency under this subsection.". (d) DISAPPROVAL FOR FAILURE TO AGREE TO PROVIDE NECESSARY INFORMATION. — Section 3(c) of the Bank Holding Company Act of 1956 (12 U.S.C. 1842(c)) is amended— (1) by redesignating paragraphs (1) and (2) as subparagraphs (A) and (B), respectively; (2) by striking "(c) The Board shall" and inserting "(c) FAC- TORS FOR CONSIDERATION BY BOARD. — "(1) COMPETITIVE FACTORS. —The Board shall"; (3) by striking "In every case" and inserting "(2) BANKING AND COMMUNITY FACTORS.— In every case"; (4) by striking "community to be served. Notwithstanding any other provision of law" and inserting "community to be served. "(4) TREATMENT OF CERTAIN BANK STOCK LOANS. —Notwithstanding any other provision of law"; and (5) by inserting after paragraph (2) (as so designated by paragraph (3) of this subsection) the following new paragraph: "(3) SUPERVISORY FACTORS.— The Board shall disapprove any application under this section by any company if— "(A) the company fails to provide the Board with adequate assurances that the company will make available to the Board such information on the operations or activities of the company, and any affiliate of the company, as the Board determines to be appropriate to determine and enforce compliance with this Act; or "(B) in the case of an application involving a foreign bank, the foreign bank is not subject to comprehensive supervision or regulation on a consolidated basis by the appropriate authorities in the bank's home country.". (e) CONFORMING AMENDMENTS. —

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