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12 U.S.C. § 633 — Potential liability on foreign accounts
Federal law — U.S. Code and appendices · legal_authorities
**(a) Exceptions from repayment requirement** A member bank shall not be required to repay any deposit made at a foreign branch of the bank if the branch cannot repay the deposit due to—
(1) an act of war, insurrection, or civil strife; or
(2) an action by a foreign government or instrumentality (whether de jure or de facto) in the country in which the branch is located;
unless the member bank has expressly agreed in writing to repay the deposit under those circumstances.
**(b) Regulations** The Board and the Comptroller of the Currency may jointly prescribe such regulations as they deem necessary to implement this section.
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Source file: Laws/federal/codes/united-states-code/title-12/section-633-potential-liability-on-foreign-accounts--21ebbe9816.md
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Source location: Title 12, Chapter 6, § 633; chapter-006-foreign-banking.md
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**(a) Exceptions from repayment requirement** A member bank shall not be required to repay any deposit made at a foreign branch of the bank if the branch cannot repay the deposit due to—
(1) an act of war, insurrection, or civil strife; or
(2) an action by a foreign government or instrumentality (whether de jure or de facto) in the country in which the branch is located;
unless the member bank has expressly agreed in writing to repay the deposit under those circumstances.
**(b) Regulations** The Board and the Comptroller of the Currency may jointly prescribe such regulations as they deem necessary to implement this section.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Representations of deposit insurance**
(1) **Insured depository institutions**
(A) *In general* — Each insured depository institution shall display at each place of business maintained by that institution a sign or signs relating to the insurance of the deposits of the institution, in accordance with regulations to be prescribed by the Corporation.
(B) *Statement to be included* — Each sign required under subparagraph (A) shall include a statement that insured deposits are backed by the full faith and credit of the United States Government.
(2) **Regulations** — The Corporation shall prescribe regulations to carry out this subsection, including regulations governing the substance of signs required by paragraph (1) and the manner of display or use of such signs.
(3) **Penalties** — For each day that an insured depository institution continues to violate paragraph (1) or any regulation issued under paragraph (2), it shall be subject to a penalty of not more than $100, which the Corporation may recover for its use.
(4) **False advertising, misuse of FDIC names, and misrepresentation to indicate insured status**
(A) *Prohibition on false advertising and misuse of FDIC names* — No person may represent or imply that any deposit liability, obligation, certificate, or share is insured or guaranteed by the Corporation, if such deposit liability, obligation, certificate, or share is not insured or guaranteed by the Corporation—
(i) by using the terms “Federal Deposit”, “Federal Deposit Insurance”, “Federal Deposit Insurance Corporation”, any combination of such terms, or the abbreviation “FDIC” as part of the business name or firm name of any person, including any corporation, partnership, business trust, association, or other business entity; or
(ii)
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Federal law — U.S. Code and appendices · legal_authorities
Page 197
TITLE 12—BANKS AND BANKING
§ 633
retary of State to the Federal Reserve bank, the
payment, transfer, delivery, or other disposal of
such property by such Federal Reserve bank to
or upon the order of such person shall be conclu-
sively presumed to be lawful and shall con-
stitute a complete discharge and release of any
liability of the Federal Reserve bank for or with
respect to such property.
Whenever (1) any insured bank has received
any property from or for the account of a for-
eign state which is recognized by the Govern-
ment of the United States, or from or for the ac-
count of a central bank of any such foreign
state, and holds such property in the name of
such foreign state or such central bank; (2) a
representative of such foreign state who is rec-
ognized by the Secretary of State as being the
accredited representative of such foreign state
to the Government of the United States has cer-
tified to the Secretary of State the name of a
person as having authority to receive, control,
or dispose of such property; and (3) the author-
ity of such person to act with respect to such
property is accepted and recognized by the Sec-
retary of State, and so certified by the Sec-
retary of State to such insured bank, the pay-
ment, transfer, delivery, or other disposal of
such property by such bank to or upon the order
of such person shall be conclusively presumed to
be lawful and shall constitute a complete dis-
charge and release of any liability of such bank
for or with respect to such property. Any suit or
other legal proceeding against any insured bank
or any officer, director, or employee thereof,
arising out of the receipt, possession, or disposi-
tion of any such property shall be deemed to
arise under the laws of the United States a
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 633
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