Capital Equivalency Deposit Agreement

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(1) Capital equivalency deposits that are made in accordance with the article . 28.15, (2) If a fund bond legally accepted under the exemption in effect before July 1, 1996 is not eligible for the exemption under paragraphs b or c of this section, the uninsured federal institution must terminate the deposit at the latest: (c) aggregation. The foreign bank has aggregated the transaction which is managed by all branches and federal agencies with the operation of all branches and public bodies controlled by the foreign bank, in order to determine whether it complies with the restrictions on the basis of the capital of the foreign bank. The foreign bank designates a federal institution or agency office in the United States to provide consolidated information so that the OCC can monitor compliance with that information. (iii) Certificates of deposit payable in the United States and banker assumptions, provided that the issuer has, in both cases, sufficient capacity to meet financial obligations relating to the foreseeable maturity of the asset or exposure. An issuer has sufficient capacity to meet its financial obligations when the risk of default of the debtor is low and the full and timely repayment of principal and interest is expected; A request for the creation of an BFB by a foreign bank must contain a statement indicating the proposed laying point and the terms and conditions of the deposit contract. The deposit contract must be signed by the FBB, the custodian and the superintendent. A standard pro forma filing agreement is attached to Schedule I. The repository cannot be connected to the FBB. The deposit contract cannot be terminated without the superintendent`s prior written consent. Applications to terminate the filing agreement must be submitted in writing at least 30 days prior to the proposed termination date.

The termination is effective only when another financial institution has been designated a custodian by FBB and approved by the Superintendent. 517(5) The necessary amount of assets is available as: cash; deposits or investments in other banks, including the total amount of reserves deposited with the Federal Reserve Bank; Cash items that are the subject of a collection procedure; yield assets such as federal funds sold, bonds, bonds, foreign exchange, assumptions, credit certificates; or other evidence of debt payable in U.S. funds or in funds freely converted into U.S. funds.

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