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State
Foreign Bank Office (FBO) Agreement
In 1998, state banking
departments responsible for foreign bank supervision signed two
agreements with each other and with the federal banking agencies to
develop a coordinated supervisory program for U.S. offices of foreign
banks. The State FBO Agreement and State-Federal FBO Agreement provide
foreign banks operating in more than one state with the same supervisory
efficiencies available to domestic state-chartered banks.
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