Narionan BANKING UNDER THE FEDERAL RESERVE SYSTEM

Every national bank either operating foreign branches or owning
stock in a bank or corporation engaged in international banking
must furnish to the Comptroller of the Currency, upon demand,
information concerning the condition of such branches, banks or
corporations.
Before any national bank can purchase stock in such a corporation
as that described above, the corporation itself must enter into an
agreement with the Federal Reserve Board to restrict its operations
or conduct its business in the manner in which the Board may prescribe.

The accounts of each foreign branch of any national bank must
be conducted separately from the accounts of the bank’s other
branches and its home office, and the bank must at the end of each
fiscal period transfer to its general ledger the profit or loss accrued at
each branch as a separate item.

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