外國銀行의 進入類型과 基準에 관한 考察 - 한국과 미국의 法的 規制를 중심으로 -

Comparative Legal Review of Entry Types and Regulations for Foreign Banks - Korea and the United States -

Each country has different regulations and policies for foreign bank entry. There are no even international standards or principles on the available entry types of organization for foreign banks. On international level, other than the entry type of organization, there are some principles for a general foreign bank supervision which are principally announced by the Basel Committee for Banking Supervision(Basel Committee) or in the national treatment instrument of the General Agreement on Trade in Services(GATS) or the Organization for Economic Cooperation and Development(OECD). On domestic level, all depository institutions in Korea and the United States, including foreign banks, are subject to a high degree of government regulation. While there are four principal types of organization through which foreign banks can engage in varying degrees of banking activities or business in Korea: representative offices, agencies, branches and bank subsidiaries, there are six principal types of organization through which foreign banks can engage in varying degrees of banking activities or business in the United States: representative offices, agencies, branches, bank subsidiaries, Edge Act and Agreement international banking corporations and commercial lending companies. Among available entry types for foreign banks in both countries, branches are the preferred form of organization for foreign banks entering the U.S. or Korean market. Foreign banks entering the foreign market through branches have traditionally emphasized wholesale international commercial banking activities, such as interbank lending, trade finance and corporate lending, as well as money market and capital markets activities. In both Korea and the United States, foreign banks that wish only to have a representative office or offices are subject to simple and minor entry standards and restrictions for their non-bank activities. Foreign banks that wish to maintain other types such as an agency, branch or bank subsidiary in both countries or a commercial lending company, Edge Act or Agreement corporation in the United States are subject to complicated entry standards and prohibitions on their foreign entries. Different entry standards are applied to each entry type of organization for foreign banks. Those entry standards are mostly complied with the Basel Committee s relevant principles.