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 approximately 35 countries around the world. Collectively, the U.S. 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.
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 of Trustees and Executive Committee is carefully balanced to reflect the diversity of the IIB's membership. In addition, there are standing committees which draw on the resources of the IIB's entire membership, including the Legislative and Regulatory Policy, Tax, and Compliance Officers 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. The IIB also holds an Annual Membership Luncheon in conjunction with its Annual General Meeting and Elections in June. The luncheon typically features a senior government speaker.
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 tax seminar in June, the U.S. regulatory/compliance orientation program in December, 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. 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 is produced in cooperation with banking associations and financial services supervisory authorities from around the world.
The IIB also periodically publishes white papers on issues of importance to the international banking community.