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- Alaska Statutes.
- Title 6. Banks and Financial Institutions
- Chapter 5. Alaska Banking Code
- Section 560. Asset Requirements For International Banks.
previous: Section 557
. Notice Filing For Interstate National Banks.
next: Section 565
. Applicability of Title to Interstate State Banks, Interstate National Banks, International Banks, and Bank Holding Companies.
AS 06.05.560. Asset Requirements For International Banks.
- (a) An international bank that operates one or more branch banks in the state shall maintain in the state assets in an
amount acceptable to the department, except that the amount may not be less than the amount of deposits payable at or
through the branch banks.
- (b) The department shall determine the value of the assets maintained by the international bank for purposes of this
section. In making its determination, the department may include as assets currency, bonds, notes, debentures, drafts,
bills of exchange, and other evidences of indebtedness owed by persons in the United States and collectible in the
United States in United States currency or, with the approval of the department, in currency freely convertible into
United States currency, but the department may not include as assets prepaid expenses, customers' liability on prepaid
expenses, or amounts due from other offices, branches, or wholly owned subsidiaries of the international bank.
- (c) When the department takes possession of a branch bank of an international bank under AS 06.05.468
and 06.05.470, the assets of the international bank
in the state shall be turned over to the department and disbursed as provided in AS 06.05.470
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