International Banking Act

[AI summary unavailable — showing source text] International Banking Act - Allows a foreign bank to establish and operate a Federal branch or agency in any State in which it is not prohibited for a foreign bank to establish a branch, upon receipt or certification of authority from the Comptroller of the Currency. Allows the Comptroller to waive the requirement of citizenship in the case of not more than a minority of the total number of directors of a national bank. Requires the Comptroller, in issuing certificates of authority, to consider the effect of the branch on the domestic or foreign commerce, future prospects of the bank, and the needs of the community. Allows a foreign bank to convert any branch operated pursuant to State law into a federally-certified branch to be operated under this Act, with the approval of the Comptroller. Terminates the authority to operate a Federal branch when: (1) the parent bank voluntarily relinquished it; (2) the parent bank is dissolved; or (3) the Comptroller has reasonable cause to believe that a foreign bank has not complied with the provisions of this Act and revokes the authority to operate a Federal branch. Sets forth the assets which foreign banks are required to keep on deposit bef…