Texas Finance Code

§ 204.114 — ASSET MAINTENANCE

FI § 204.114Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part G. BANK HOLDING COMPANIES; INTERSTATE BANK OPERATIONS · Ch. 204. FOREIGN BANKS · Art. B. DIRECT BRANCH AND AGENCY OFFICES OF FOREIGN BANKS

Statute text

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(a)In accordance with rules adopted under this subtitle, a foreign bank licensed to establish and maintain a Texas state branch or agency shall at all times satisfy the ratio of branch or agency assets to liabilities determined by the commissioner, in the commissioner's sole discretion, to be necessary or desirable with respect to the foreign bank. The type of assets to be held in this state are specified by Subsection (b) and the type of liabilities to be included in the ratio are specified by Subsection (c).

(b)Assets to be held in this state for the purpose of satisfying the ratio of assets to liabilities:

(1)include:

(A)currency, bonds, notes, debentures, drafts, bills of exchange, or other evidences of indebtedness, including loan participation agreements or certificates;

(B)other obligations payable in the United States or in United States funds or, with the prior approval of the commissioner, in funds freely convertible into United States funds; and

(C)other assets the commissioner permits or as may be specified by rule; and

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Legislative history

Added by Acts 1999, 76th Leg., ch. 344, Sec. 1.001, eff. Sept. 1, 1999.