Regulatory guide for foreign banks in the United States 2007-2008

Regulatory guide for foreign banks in the US 2007-2008
Download Regulatory guide for foreign banks in the US 2007-2008

PwC is pleased to release its 2007–2008 edition of A regulatory guide for foreign banks in the United States. We intend for the guide to serve several purposes:

Be an introduction to US regulation and supervision for foreign banks and their senior management new to the US market. We describe the many forms of business organization available to foreign banks, the regulators of these operations and, when necessary, how an institution obtains a license or approval to begin operations.

Be a source for highlighting the many complex issues that foreign banks must navigate in doing business here to ensure they meet regulatory expectations. We describe in some detail how foreign bank operations in the United States are supervised and examined and some of the key regulatory and supervisory issues they face in conducting their business, such as anti-money laundering regulations.

Be an opportunity for us to bring you PwC’s insights on trends shaping the banking industry in the United States and the growing and diverse roles of foreign banks in that industry. As an integral part of the US banking system, foreign banks are always dealing with new opportunities, new risks and challenges and new market developments.

Since publication of the last guide in 2005, we have noted an uptick in new entrants to the US market, greater attempts to harmonize supervisory and enforcement policies in anti-money laundering and in countering the financing of terrorism, and additional refinements in regulatory policy, such as with respect to branch asset pledge requirements