United States: Banking & Finance

This country-specific Q&A provides an overview to Banking & Finance laws and regulations that may occur in United States.

  1. What are the national authorities for banking regulation, supervision and resolution in your jurisdiction?

  2. Which type of activities trigger the requirement of a banking licence?

  3. Does your regulatory regime know different licenses for different banking services?

  4. Does a banking license automatically permit certain other activities, e.g., broker dealer activities, payment services, issuance of e-money?

  5. Is there a “sandbox” or “license light” for specific activities?

  6. Are there specific restrictions with respect to the issuance or custody of crypto currencies, such as a regulatory or voluntary moratorium?

  7. What is the general application process for bank licenses and what is the average timing?

  8. Is mere cross-border activity permissible? If yes, what are the requirements?

  9. What legal entities can operate as banks? What legal forms are generally used to operate as banks?

  10. What are the organizational requirements for banks, including with respect to corporate governance?

  11. Do any restrictions on remuneration policies apply?

  12. Has your jurisdiction implemented the Basel III framework with respect to regulatory capital? Are there any major deviations, e.g., with respect to certain categories of banks?

  13. Are there any requirements with respect to the leverage ratio?

  14. What liquidity requirements apply? Has your jurisdiction implemented the Basel III liquidity requirements, including regarding LCR and NSFR?

  15. Do banks have to publish their financial statements? Is there interim reporting and, if so, in which intervals?

  16. Does consolidated supervision of a bank exist in your jurisdiction? If so, what are the consequences?

  17. What reporting and/or approval requirements apply to the acquisition of shareholdings in, or control of, banks?

  18. Does your regulatory regime impose conditions for eligible owners of banks (e.g., with respect to major participations)?

  19. Are there specific restrictions on foreign shareholdings in banks?

  20. Is there a special regime for domestic and/or globally systemically important banks?

  21. What are the sanctions the regulator(s) can order in the case of a violation of banking regulations?

  22. What is the resolution regime for banks?

  23. How are client’s assets and cash deposits protected?

  24. Does your jurisdiction know a bail-in tool in bank resolution and which liabilities are covered?

  25. Is there a requirement for banks to hold gone concern capital (“TLAC”)?

  26. In your view, what are the recent trends in bank regulation in your jurisdiction?

  27. What do you believe to be the biggest threat to the success of the financial sector in your jurisdiction?