# Conn. Gen. Stat. § 36a-428c: Sec. 36a-428c. Deposit of assets by foreign bank. Holding of currency or other assets in relation to liabilities. Unusual and extraordinary circumstances; deposit of assets with banks designated by commissioner > Connecticut · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-428c ## Section - **Citation:** Conn. Gen. Stat. § 36a-428c - **Heading:** Sec. 36a-428c. Deposit of assets by foreign bank. Holding of currency or other assets in relation to liabilities. Unusual and extraordinary circumstances; deposit of assets with banks designated by commissioner - **Jurisdiction:** Connecticut - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** Connecticut Code / Title 36a / Chapter 666 / Section 36a-428c ## Text (b) Such foreign bank shall hold in this state currency, or such assets as the commissioner shall by regulation permit, in an amount which shall bear such relationship as the commissioner shall by regulation prescribe to liabilities of such foreign bank. As used in this subsection, “liabilities” means liabilities appearing in the books, accounts or records of a foreign bank's state agencies and state branches in this state as liabilities of such agencies and branches, including acceptances and such other liabilities as the commissioner shall determine but excluding amounts due and other liabilities to other offices, agencies or branches of, and affiliates of such foreign bank. For purposes of this subsection, the commissioner (1) shall value marketable securities at principal amount or market value, whichever is lower, (2) may determine the value of any nonmarketable bond, note, debenture, draft, bill of exchange, other evidence of indebtedness, or of any other asset or obligation held by or owed to the foreign bank or its agency, agencies, branch or branches within this state, and (3) in determining the ratio of assets to liabilities, may exclude in whole or in part any particular asset. If, by reason of the existence or potential occurrence of unusual and extraordinary circumstances, the commissioner deems it necessary or desirable for the maintenance of a sound financial condition, the protection of depositors, creditors and the public interest, and to maintain public confidence in the business of any state agency or state branch of a foreign bank in this state, the commissioner may, subject to such terms and conditions as the commissioner may prescribe, require such foreign bank to deposit the assets required to be held in this state pursuant to this subsection with such banks as the commissioner may designate. ## Nearby sections - [Conn. Gen. Stat. § 36a-410 Sec. 36a-410. (Formerly Sec. 36-552). Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-410.md) - [Conn. Gen. Stat. § 36a-410a Sec. 36a-410a. Mergers between Connecticut and out-of-state banks authorized. Interstate branching.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-410a.md) - [Conn. Gen. Stat. § 36a-412 Sec. 36a-412. (Formerly Sec. 36-555). Out-of-state banks: Merger, consolidation and acquisition. De novo branches. Powers of branches. Loan production offices. Applicability of Connecticut law. Commissioner approval.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-412.md) - [Conn. Gen. Stat. § 36a-425 Sec. 36a-425. (Formerly Sec. 36-5a). Foreign banking corporations not to do business in this state. Excepted activities.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-425.md) - [Conn. Gen. Stat. § 36a-428a Sec. 36a-428a. Application for license to establish and maintain state branch or state agency. Application form, supporting documents, fee. Investigation by commissioner and issuance of license. Display of license. License may not be transferred or assigned.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-428a.md) - [Conn. Gen. Stat. § 36a-428b Sec. 36a-428b. Operation of foreign bank at state branch or state agency, rights, privileges, duties, restrictions, etc., exceptions. Deposit insurance from FDIC not required. Not subject to certain statutory provisions, when. Assessment for expenses of commissioner's office.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-428b.md) - [Conn. Gen. Stat. § 36a-428c Sec. 36a-428c. Deposit of assets by foreign bank. Holding of currency or other assets in relation to liabilities. Unusual and extraordinary circumstances; deposit of assets with banks designated by commissioner.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-428c.md) - [Conn. Gen. Stat. § 36a-428d Sec. 36a-428d. Certification of paid-in capital stock, surplus fund and undivided profits; limitation or restriction.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-428d.md) - [Conn. Gen. Stat. § 36a-428g Sec. 36a-428g. Representative office; licensing requirements; application; fee; renewal; content of license; investigation of facts by commissioner. Foreign bank subject to regulations and orders of commissioner.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-428g.md) - [Conn. Gen. Stat. § 36a-428h Sec. 36a-428h. Books, accounts and records to be maintained and available at state branch, state agency or representative office. Reports to commissioner.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-428h.md) - [Conn. Gen. Stat. § 36a-428i Sec. 36a-428i. Notice of acquisition of control or merger of foreign bank.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-428i.md) - [Conn. Gen. Stat. § 36a-428k Sec. 36a-428k. Voluntary liquidation of business and property of state branches and state agencies.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-428k.md) - [Conn. Gen. Stat. § 36a-428l Sec. 36a-428l. Investigation and examination concerning foreign bank licensed to maintain state branch, state agency or representative office. Commissioner's powers; duties of foreign bank; cost of examination; penalties.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-428l.md) - [Conn. Gen. Stat. § 36a-428n Sec. 36a-428n. Involuntary liquidation of business and property of foreign banks having a state branch or state agency.](https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-428n.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_CT_T36a_C666_S36a-428c. Check the current official text before relying on it. Not legal advice.