Home State of a Foreign Bank Law and Legal Definition

According to 12 CFR 28.11 [Title 12 -- Banks and Banking; Chapter I -- Comptroller of the Currency, Department of the Treasury; Part 28 -- International Banking Activities; Subpart B -- Federal Branches and Agencies of Foreign Banks], home state of a foreign bank means “the state in which the foreign bank has a branch, agency, subsidiary commercial lending company, or subsidiary bank. If a foreign bank has an office in more than one state, the home state of the foreign bank is the state that is selected to be the home state by the foreign bank or, in default of the foreign bank's selection, by the FRB (Federal Reserve Bank.)”