The FBSEA of 1991 required a foreign bank to have Fed approval to establish a branch as a new entry, but does not require such approval if the entry is by acquisition.

Question

Quizplus · Accepted Answer

The Foreign Bank Supervision Enhancement Act (FBSEA) of 1991 requires a foreign bank to obtain approval from the Federal Reserve for both establishing a new branch and entering by acquisition.

The FBSEA of 1991 Required a Foreign Bank to Have