Foreign Banks in the U.S.: A Reference Document
Daniel E. Nolle
Office of the Comptroller of the Currency
December 19, 2012
The concepts "international," "cross-border," and "foreign" banking are complex by nature because they involve the interactions of entities operating in two or more national financial markets and regulatory systems. Given this inherent conceptual complexity, clarity and transparency in the use of terms and data is especially important. This reference document focuses on one important dimension in the realm of "foreign banking" of great interest to analysts, regulatory authorities, and policy makers: foreign banks in the U.S. It identifies key definitional and data issues surrounding the topic which, if inadequately dealt with, can cripple analysis (and therefore, possibly, undermine policy decisions). With that discussion as a conceptual foundation, the document looks in detail at the structure and assets-size of the foreign banking presence in the U.S. It also introduces a data set that addresses key data and definitional challenges in a more comprehensive, and economically meaningul, way than traditional data sources viewed as covering "the" U.S. banking system.
Number of Pages in PDF File: 49
Keywords: Foreign banks, foreign banking, branches and agencies of foreign banks, foreign-owned subsidiary banks, internal capital markets, intra-company funding flows, net due-to balances
JEL Classification: G21, G15, F3
Date posted: December 21, 2012
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