Oriental Bank pays $447,125 for flood insurance violations
Issued by FDIC
(a) Insured branch as an "insured depository institution." A U.S. branch of a foreign bank that is insured by the Fedeal Deposit Insurance Corporation shall be treated as an ‘‘insured depository institution’’ for purposes of § 225.84.
(b) Applicability. The provisions of § 225.84, with the modifications contained in this section, shall apply to a foreign bank that operates an insured branch referred to in paragraph (a) of this section or an insured depository institution in the United States, and any company that owns or controls such a foreign bank, that has made an effective election under § 225.92 in the same manner and to the same extent as they apply to a financial holding company.