HRS §412:5-206
Setting up an international banking facility
A bank can open an international banking facility in Hawaii without asking the commissioner first. It must tell the commissioner at least 14 days before opening by sending a copy of the statement required by federal rules. It must also send copies of quarterly reports required by those rules.
The statute, as written — International banking facilities
A bank may without prior approval of the commissioner establish an international banking facility anywhere in this State. An international banking facility is a set of international banking accounts under Regulation D of the Federal Reserve Board (12 C.F.R. Part 204). At least fourteen days prior to the establishment of an international banking facility any bank intending to do so shall furnish the commissioner with a copy of the statement of intention required under Regulation D. Every bank maintaining an international banking facility shall furnish the commissioner with a copy of each quarterly report required under Regulation D.
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