12 CFR § 265.8 - Functions delegated to the Staff Director of the Division of International Finance.
The Board's Staff Director of the Division of International Finance (or the Director's delegee) is authorized:
(a)Establishment of foreign accounts. To approve the establishment of foreign accounts and the terms of any account-related agreements with the Federal Reserve Bank of New York under section 14(e) of the Federal Reserve Act (12 U.S.C. 358).