|
|
Article: Foreign banks stand firm against branching requirements. (Senate bill requiring holding companies for branch banks) (Brief Article)
- Article from:
- American Banker
- Article date:
- May 31, 1994
- Author:
CopyrightCOPYRIGHT 1994 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
As the House and Senate prepare to reconcile their separate interstate banking bills, foreign banks have reaffirmed their opposition to Senate proposals requiring them to set up a U.S. holding company in order to branch across state lines.
In a letter earlier this month to the chairman of the House Banking Committee, Henry B. Gonzalez, the Institute of International Bankers argued that the Senate bill would discriminate against foreign banks by leaving federal interstate branch banking restrictions on them in force unless they set up a U.S. bank-holding company.
The New York-based association represents foreign banks in the United States.
Federal restrictions on ...