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Branches and Agencies of Foreign Banks
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SIC Industry 6081   —   NAICS² Industries  522110,  522293  &  522298

SIC [1987]  →  Finance, Insurance, and Real Estate  →  Depository Institutions  →  Foreign Bank & Branches + Agencies  →  Foreign bank & branches & agencies



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Businesses & Products of SIC Industry 6081
  • Agencies of foreign banks
  • Branches of foreign banks


Description of SIC Industry 6081 — Branches and Agencies of Foreign Banks
 
Establishments operating as branches or agencies of foreign banks which specialize in commercial loans, especially trade finance.  They typically fund themselves via large denomination interbank deposits, rather than through smaller denomination retail deposits.  Federally licensed agencies of foreign banks may not accept deposits.  Federal branches may accept deposits; however, if they choose to accept deposits in denominations of $100,000 or less, Federal deposit insurance is required.  Establishments which are owned by foreign banks but engaged in accepting deposits from the general public in the United States are classified in Industry Group 602.


²  North American Industry Classification System (NAICS)

SIC [1987] Industry 6081     ⇒     NAICS [2012] Industry Codes

NAICS Code  North American Industry    SIC Codes
In ascending order
522110Commercial Banking  ⇒  602160226029,  6081
522293International Trade Financing  ⇒  6081,  608261116159
522298All Other Nondepository Credit Intermediation  ⇒  59326019,  6081,  60826111,
614161536159
 
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