U.S. Department of Labor | ||||||
Occupational Safety & Health Administration |
SIC Description for 6081
Description for 6081: Branches and Agencies of Foreign Banks |
Division H: Finance, Insurance, And Real Estate |
Major Group 60: Depository Institutions |
Industry Group 608: Foreign Banking And Branches And Agencies Of |
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 primarily engaged in accepting retail deposits from the general public in the United States are classified in Industry Group 602.
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