SIC Code 6081 Branches and Agencies of Foreign Banks

Industry

Finance, Insurance, Real Estate

Description

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.

Cross References

Establishments which are owned by foreign banks but primarily engaged in accepting retail deposits from the general public in the United States are classified in Industry Group 602.

Illustrative Examples

Agencies of foreign banks, Branches of foreign banks

Industry Leaders

Further Classification

6-digit SIC

  • 608198Branches & Agencies Of Foreign Banks

7-digit SIC

  • 6081001Branches & Agencies Of Foreign Banks
  • 6081002Agencies Of Foreign Banks

8-digit SIC

  • 60810000Foreign Bank And Branches And Agencies
  • 60819901Agencies Of Foreign Banks