Founded in 1966, the IIB is the only national association devoted exclusively to representing and advancing the interests of internationally-headquartered banking/financial institutions operating in the United States. Its membership is comprised of internationally headquartered institutions from over 35 countries around the world. Collectively, the U.S. branches, agencies, banking subsidiaries, securities affiliates and other operations of the IIB's member banks are an important source of credit for U.S. borrowers and enhance the depth and liquidity of U.S. financial markets. IIB member banks also inject billions of dollars each year into the economies of major cities across the country through the direct employment of U.S. citizens and permanent residents, as well as through other operating and capital expenditures.
The IIB's mission is to ensure that federal and state banking laws and regulations provide international banks operating in the United States with the same competitive opportunities as domestic banking organizations. Applying U.S. banking laws and regulations to the U.S. branches, agencies, securities affiliates and other operations of international banks is enormously complicated and can produce unintended adverse results. The IIB therefore carefully monitors legislative, regulatory and judicial developments at the federal and state level and advocates, as appropriate, to seek results that are consistent with the U.S. policy of national treatment and advancing the interests of its members. The IIB also seeks to ensure that the global operations of its member banks are not subject to unwarranted extraterritorial applications of U.S. laws.
How We Accomplish Our Mission
As the representative of the international banking community in the United States, the IIB is able to achieve goals that often would be impossible or prohibitively expensive for any one bank or a small group of banks to accomplish. Through testimony, comment letters, briefings and informal discussions, the IIB advocates on behalf of international banks on pending legislative, regulatory and tax issues before such governmental bodies as the House Financial Services, Ways and Means and Senate Banking and Finance Committees, the Treasury Department, the Federal Reserve Board, the Office of the Comptroller of the Currency, state banking departments, the Federal Deposit Insurance Corporation, the Internal Revenue Service, the Securities and Exchange Commission, and the Commodity Futures Trading Commission. From Dodd-Frank Act implementation to major tax and anti-money laundering and OFAC issues that affect member banks of every size, the IIB's results-oriented focus is on solving the various problems that confront the international banking community in the U.S.
The IIB also serves as a source of information to policy makers, the media and other interested parties on international banking issues, provides a forum for the discussion of those issues, and contributes to a better understanding of the benefits of a free global financial marketplace through its studies, white papers and other publications.
Governance and Organization
The IIB's policies are guided by Board of Trustees elected by the membership, and its operations are managed by a full-time Chief Executive Officer. The general manager of each member bank serves as a voting representative and the composition of the Board is carefully balanced to reflect the diversity of the IIB's membership. Eighteen members of the Board and the Chief Executive Officer serve as IIB Officers and together comprise the Executive Committee. In addition, there are standing committees which draw on the resources of the IIB's entire membership, including the Legislative and Regulatory Policy, Tax, Compliance Officers and Capital and Liquidity Issues Committees.
While the Board formally sets the policy agenda, the IIB's membership at large provides direct input and guidance on major legislative, regulatory, tax and compliance matters through frequent meetings and communications. In addition, specific affinity groups within IIB’s membership gather at the IIB on a regular basis to discuss developments of particular importance to them. The IIB also has a Professional Liaison Committee, comprised of representatives of major law, accounting, consulting and other professional firms that work with the international banking community. Additionally, the IIB works with banking associations from around the world that participate as associate members of the IIB.
Each year in March, the IIB sponsors a two-day conference in Washington, D.C., featuring senior U.S. and international policymakers and financial industry leaders. During the annual IMF/World Bank meetings held in the Fall of each calendar year, the IIB holds an on-site "Breakfast Regulatory Dialogue with Government Officials' with senior U.S. and international policymakers. The IIB also holds periodic Membership Luncheons featuring guest speakers drawn from the highest levels of government and industry.
The IIB conducts seminars throughout the year on important policy issues affecting the international banking community in the United States, as well as seminars on developments in new financial products and business strategies. Some of these programs are conducted on a yearly basis, such as full-day AML seminar in the spring, the two-day tax seminar in June, the U.S. regulatory/compliance orientation program in July, sponsored each year with the Conference of State Bank Supervisors, and the two-day risk management and regulatory examination/compliance seminar in the fall. Other- programs are arranged in response to recent developments.
IIB publications include a Weekly Bulletin reporting on issues of importance to our membership as well as on upcoming IIB events, and the bimonthly International Banking Focus/Institute News. Focus provides brief updates on the legislative, regulatory, tax and compliance issues the IIB has been addressing that have a direct impact on our member institutions, with links to IIB documents on our website (www.iib.org) providing more detailed information. News provides detailed information on recent and upcoming IIB conferences, seminars and other events. Each fall, the IIB publishes its Global Survey of Regulatory and Market Developments in Banking, Securities and Insurance. Publication is timed each year to coincide with the IMF/World Bank annual meetings. The survey, covering 33 countries and the European Union, is produced in cooperation with banking associations and financial services supervisory authorities from around the world. The Survey is part of the IIB’s ongoing effort to contribute to the understanding of the trends toward globalization of financial markets and convergence of regulatory systems around the world.
The IIB's "Economic Benefits" study, published periodically, documents the economic contributions that the U.S. operations of internationally-headquartered financial institutions make to the U.S. economy and financial markets.
The IIB also periodically publishes white papers on issues of importance to the international banking community. For example, these papers have dealt with the many major tax issues that arise in connection with U.S. branch and agency operations of our member banks.