# 12 U.S.C. § 604a: Regulations authorizing exercise by foreign branches of usual powers of local banks; restrictions

> Federal · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/usc_t12_s604a

## Section

- **Citation:** 12 U.S.C. § 604a
- **Heading:** Regulations authorizing exercise by foreign branches of usual powers of local banks; restrictions
- **Jurisdiction:** Federal
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** July 23, 2026
- **Source:** Publisher's official text
- **Location:** Title 12—BANKS AND BANKING > CHAPTER 6—FOREIGN BANKING > SUBCHAPTER I—ESTABLISHMENT BY NATIONAL BANKS OF FOREIGN BRANCHES AND INVESTMENTS IN BANKS DOING FOREIGN BUSINESS

## Text

Regulations issued by the Board of Governors of the Federal Reserve System under this subchapter, in addition to regulating powers which a foreign branch may exercise under other provisions of law, may authorize such a foreign branch, subject to such conditions and requirements as such regulations may prescribe, to exercise such further powers as may be usual in connection with the transaction of the business of banking in the places where such foreign branch shall transact business. Such regulations shall not authorize a foreign branch to engage in the general business of producing, distributing, buying or selling goods, wares, or merchandise; nor, except to such limited extent as the Board may deem to be necessary with respect to securities issued by any “foreign state” as defined in section 632 of this title , shall such regulations authorize a foreign branch to engage or participate, directly or indirectly, in the business of underwriting, selling, or distributing securities.

( Dec. 23, 1913, ch. 6, § 25 (par.), as added Pub. L. 87–588 , Aug. 15, 1962 , 76 Stat. 388 .)

## Nearby sections

- [12 U.S.C. § 601 Authorization; conditions and regulations](https://www.frixlaw.com/law-library/statutes/usc_t12_s601.md)
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- [12 U.S.C. § 603 Restrictions imposed by Board of Governors of the Federal Reserve System on banks purchasing stock in corporations doing foreign business](https://www.frixlaw.com/law-library/statutes/usc_t12_s603.md)
- [12 U.S.C. § 604 Accounts of foreign branches; profit and loss](https://www.frixlaw.com/law-library/statutes/usc_t12_s604.md)
- [12 U.S.C. § 604a Regulations authorizing exercise by foreign branches of usual powers of local banks; restrictions](https://www.frixlaw.com/law-library/statutes/usc_t12_s604a.md)
- [12 U.S.C. § 605 Repealed. Aug. 23, 1935, ch. 614 , title III, § 329, 49 Stat. 717](https://www.frixlaw.com/law-library/statutes/usc_t12_s605.md)
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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/usc_t12_s604a. Check the current official text before relying on it. Not legal advice.