Are foreign owned banks permitted to participate in the TARP CPP?
The Application Guidelines for TARP Capital Purchase Program (Guidelines), published on October 31, 2008, provides, “[t]o qualify, the applicant must be established and operating in the United States and may not be controlled by a foreign bank or company.” For purposes of determining whether a bank is controlled by a foreign bank or company, the Treasury will rely on the federal banking agencies’ control determinations.
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- Are foreign owned banks permitted to participate in the TARP CPP?
