1 Monetary reserve coefficient was used in 1964 and early 1965.
2 Government occasionally uses moral suasion over Italian banks to purchase debt in-
struments. This probably could apply to U.S. banks.

3 Foreign banks are expected to utilize dividends which they are not permitted to
transfer out of Greece for long-term loans under terms set by the Currency Committee.
4 To the extent that banking authority regulations are disproportionately directed
toward foreign business, foreign banks, tending to have large foreign businesses, suffer
to a similar degree.

Up to 60 percent of initial capital may be invested in country's debt instruments. The Ministry of Finance has been known to request informally that banks invest in public works bonds.

7 Only Government of India securities are acceptable as approved securities for capital and liquidity requirements.

In addition, capital requirements must be held at reserve bank which counts toward
25 percent statutory requirement.

Restrictions on the maximum rates of interest that may be paid on time deposits
are not enforced and are violated by domestic banks. The branches of foreign banks
generally observe the restrictions and are at a disadvantage in attracting deposits.
10 There is a nominal requirement for investment in patriotic bonds for import tax.
"It is expected that banks will maintain a treasury bill portfolio.

Yes; but only by industrial banks or financieras, not commercial banks.

Equally available to foreign and
domestic banks with one exception
Institut de Reescompte et de Garantie
does not give foreign lines for over-
drafts to foreign banks.

Equally available to foreign and domestic banks.

Do.

Equally available to foreign and
domestic banks except rediscount
facilities which are not normally
available to foreign banks.

Yes; at central bank (Clearing Bank
Association does not accept new
members).

Equally available to domestic and foreign banks.

France.

Yes.

Yes.

Yes.

Italy..

Yes.

Yes.

Yes.

banks.

Germany.

Yes.1

Yes.

Yes.

Greece.

Yes.

Yes.

Yes.

Yes.

Foreign banks are not permitted to establish branches or subsidiaries.

Sweden.. Switzerland.

Foreign banks are not permitted to establish branches or affiliates.

Same basis as domestic banks.

None.

One of the managers must be Swiss. Working permits for foreigners are strictly controlled and issued only upon demonstration that functions cannot reasonably be fulfilled by Swiss nationals.

None.

None.

(1) Credit restrictions imposed
on both foreign and domestic
banks prevent development of
local loans by newly established
banks.

(2) Capital ceilings imposed by
central bank on foreign branches.
(1) Maximum term of com-
mercial bank loans which is now
only 18 months.

(2) Restriction on degree of
participation in locally organized
affiliate.

(1) Informal but effective competitive restrictions imposed by focal banks.

(2) Working permits.