F.S. 663.055 Florida Statutes and Case Law

The 2022 Florida Statutes (including 2022 Special Session A and 2023 Special Session B)

Title XXXVIII
BANKS AND BANKING

Chapter 663
INTERNATIONAL BANKING

View Entire Chapter

663.055 Capital requirements.—

(1) To qualify for a license under this part, the proposed capitalization of the international banking corporation must be in such amount as the office determines is necessary, taking into consideration the risk profile of the international banking corporation and the ability of the international banking corporation to operate a licensed office in a safe and sound manner. In making this determination, the office must consider the financial resources of the international banking corporation, including:

(a) The international banking corporation’s current and projected capital position, profitability, level of indebtedness, and business and strategic plans;

(b) The financial condition of any of the international banking corporation’s existing offices located in the United States;

(d) The capital ratio standards used in the United States and in the international banking corporation’s home-country jurisdiction.

(2) The proposed capitalization of the international banking corporation must be in such amount as the office deems adequate, but in no case may the total capital accounts of the international banking corporation be less than the minimum required under s. 658.21(2) to establish a state bank.

(3) The office may specify such other conditions as it determines are appropriate, considering the public interest and the need to maintain a safe, sound, and competitive banking system in this state.

(4) For the purpose of this part, the capital accounts of and capital ratio standards for an international banking corporation must be determined in accordance with rules adopted by the commission. In adopting such rules, the commission shall consider similar rules adopted by bank regulatory agencies in the United States and the need to provide reasonably consistent regulatory requirements for international banking corporations doing business in this state, as well as capital adequacy standards of an international banking corporation’s home-country jurisdiction.

History.—s. 155, ch. 92-303; s. 1818, ch. 2003-261; s. 6, ch. 2010-9; s. 9, ch. 2017-83.

Statutes updated from Official Statutes on: March 07, 2023

F.S. 663.055 on Google Scholar

F.S. 663.055 on Casetext

Amendments to 663.055

Arrestable Offenses / Crimes under Fla. Stat. 663.055

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 663.055.

Civil Citations / Citable Offenses under S663.055

R or S next to points is Mandatory Revocation or Suspension

Current data shows no reason a civil citation or a suspension or revocation of license should have been issued under Florida Statute 663.055.

The 2022 Florida Statutes (including 2022 Special Session A and 2023 Special Session B)

Annotations, Discussions, Cases: