FBSEA

  An acronym for the Foreign Bank Supervision Enhancement Act of the US. A part of the reforms to the American banking system passed by congress in 1991 (in the wake of the BCCI and BNL scandals). This act requires the Federal Reserve to increase supervision of foreign owned banks operating in America. A new branch or office of a foreign bank now needs the approval of both the Fed and either the OCC or the state regulatory authority. In addition the foreign banks are now limited to lending based upon their American subsidiary rather than the capital of the whole bank.

International financial encyclopaedia . 2014.

Look at other dictionaries:

  • Foreign Bank Supervision Enhancement Act - FBSEA — An act enacted on December 19, 1991 to increase the Federal Reserve s authority over foreign banks seeking entry into the United States. Part of the Federal Deposit Insurance Corporation Improvement Act (FDICIA) of 1991. The act enabled the Fed… …   Investment dictionary

  • ЗАКОН ОБ УСИЛЕНИИ НАДЗОРА ЗА ДЕЯТЕЛЬНОСТЬЮ ИНОСТРАННЫХ БАНКОВ 1991 г. — FOREIGN BANK SUPERVISION ENHANCEMENT ACT OF 1991 FBSEAЗакон имел целью заполнить пробелы в сфере надзора за деятельностью ин. банков и ее регулирования с тем, чтобы обеспечить добросовестное и последовательное применение положений о банковской… …   Энциклопедия банковского дела и финансов

  • OCC —   An acronym for the American Office of the Comptroller of the Currency. This is a US regulatory body which is taking an increased role in the regulation of foreign banks operating in America. See also FBSEA …   International financial encyclopaedia

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