Section 3.51 - Authority, Purpose and Scope(a) Authority. This subchapter is adopted under the authority of Finance Code, Title 3, Subtitle G, Chapter 204, Subchapter B, particularly Finance Code, §§ RSA 204.113 and RSA 204.114. Subchapter B authorizes a foreign bank to establish and maintain a Texas state branch or agency upon receiving a license from the Texas Banking Commissioner. Section 204.113 authorizes the banking commissioner to require a foreign bank so licensed to deposit and pledge to the banking commissioner assets in Texas in an amount and subject to such conditions as may be determined or authorized by rule. Section 204.114 authorizes the banking commissioner to require a foreign bank to satisfy the ratio of Texas state branch or agency assets to liabilities as may be determined or authorized by rule.(b) Purpose. This subchapter implements Finance Code, §§ RSA 204.113 and RSA 204.114. It establishes the amount of assets that a foreign bank subject to its provisions must deposit and pledge and the conditions related to the pledge. The subchapter also authorizes the banking commissioner to require a foreign bank to maintain a specific ratio of assets to liabilities as the banking commissioner deems necessary or desirable to address supervisory concerns.(c) Scope. This subchapter applies to a foreign bank that is licensed to establish and maintain one or more Texas state branches or Texas state agencies under Finance Code, Title 3, Subtitle G, Chapter 204, Subchapter B, and that carries nonrelated liabilities on the books, accounts and records of such branch, branches, agency or agencies.7 Tex. Admin. Code § 3.51
The provisions of this §3.51 adopted to be effective November 12, 2003, 28 TexReg 9823