The specifics need to be clarified, but you should all be aware of this international initiative, while also recognizing that more work remains to be done in this country to deal with the complex issues that arise from the international and inter-industry activities of these firms.
Domestic Supervision of Foreign Banking Organizations Moving now from Asia to domestic issues, the International Banking Act (IBA) is perhaps the most notable of the laws governing the activities of foreign banking organizations (FBOs) here in the United States.