Grounds for termination.

Grounds for termination. The OCC may revoke the authority of a foreign bank to operate a Federal branch or agency if:
(1) The OCC determines that there is reasonable cause to believe that the foreign bank has violated or failed to comply with any of the provisions of the IBA, other applicable Federal laws or regulations, or orders of the OCC;
(2) A conservator is appointed for the foreign bank, or a similar proceeding is initiated in the foreign bank's home country;
(3) One or more grounds for receivership, including insolvency, as specified in 12 U.S.C. 3102(j), exists;
(4) One or more grounds for termination, including unsafe and unsound practices, insufficiency or dissipation of assets, concealment of books and records, a money laundering conviction, or other grounds as specified in 12 U.S.C. 191, exists; or
(5) The OCC receives a recommendation from the FRB, pursuant to 12 U.S.C. 3105(e)(5), that the license of a Federal branch or agency be terminated.


12 CFR § 28.24

Scoping language

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