National Supervisory Authority & Licensing Qualification Dossier • North America
FRS
United StatesU.S. Federal Reserve System
Source / Native Reference: 美国联邦储备系统
- Supervisory tier
- Tier-1
- License classes
- 2
- Licensed records
- 22
- Active / regulated
- 22
Statutory Supervisory Mandate & Scope
Board of Governors of the Federal Reserve System (U.S. Federal Reserve) (FRB) is the Tier-1 statutory financial markets and securities supervisory authority in United States. It grants and supervises financial services licences across broker-dealers, investment advisers, asset managers, and market operators, enforcing initial and ongoing prudential capital requirements, segregated client asset rules, market conduct standards, and public register disclosures.
Prudential Tier Assessment
Tier-1Tier-1 sovereign central bank and macroprudential banking supervisor for United States, enforcing Basel III capital adequacy and national payment system integrity.
National licensing qualifications & statutory authorisation classes (FRS)
Authorisation categories, permitted institutional and retail activities, minimum initial capital adequacy, and ongoing prudential solvency rules enforced by FRS in United States.
| License class / code | Official designation | Permitted institutional & retail activities | Minimum initial / base capital | Ongoing prudential & solvency rule |
|---|---|---|---|---|
| Class A / Commercial Banking Charter | Full Commercial & Institutional Banking Licence | Deposit-taking, commercial lending, interbank FX market-making, trade finance, and institutional custody. | USD $10,000,000 – $50,000,000+ paid-up Tier 1 capital | Minimum Basel III Total Capital Ratio ≥ 10.5%–12.5%, CET1 ≥ 7.0%, LCR ≥ 100%, and NSFR ≥ 100%. |
| EMI / Payment & FX Institution Licence | Authorised Payment Institution / Electronic Money & FX Remittance Licence | Cross-border remittance, electronic money issuance, merchant payment acquiring, and deliverable spot FX conversion. | USD $150,000 – $500,000 equivalent paid-up capital plus statutory central bank security deposit. | 100% daily safeguarding of customer float in segregated commercial bank trust accounts. |
Investor compensation, client money segregation & digital-asset regime
Statutory counterparty protections, custody reconciliation mandates, and virtual-asset licensing status under FRS.
Statutory Deposit Insurance & Bank Resolution Scheme (United States)
- Maximum coverage per client
- USD $100,000 – $250,000 / EUR €100,000 equivalent per eligible depositor
- Eligible counterparties & scope
- Retail depositors and eligible corporate deposit accounts held at licensed credit institutions.
FRS Prudential Safeguarding & Custody Directives
- Reconciliation & audit cadence
- Daily reserve and Nostro/Vostro liquidity reconciliation; 100% ring-fencing of payment institution safeguarding accounts.
- Approved custodian requirements
- Central bank reserve accounts or ring-fenced statutory trust accounts at Tier-1 correspondent banks.
FRS Prudential Cryptoasset Exposure (BCBS SCO60) & CBDC / Stablecoin Oversight
- Travel Rule, custody & stablecoin rules
- Full FATF Recommendation 16 Wire Transfer & Virtual Asset Travel Rule compliance across supervised banking rails.
Primary Governing Statutes & Rulebooks
- Central Bank & Banking Supervision Act of United States
- Basel III Capital Adequacy (CET1 / Tier 1 / Total Capital) & Liquidity (LCR / NSFR) Prudential Standards
- National Payment Systems & Foreign Exchange Control Regulations (United States)
- FATF-Aligned Anti-Money Laundering & Counter-Terrorist Financing (AML/CFT) Banking Directives
Regulatory Reporting & Audit Obligations
Monthly/Quarterly Basel III COREP/FINREP prudential capital and liquidity returns to FRSAnnual IFRS statutory financial audit by an approved central-bank-panel external audit firmReal-time large-exposure, foreign exchange position, and suspicious transaction reporting (STR)
Cross-Border Equivalence & Passporting
Requires FRS home-host supervisory college approval or local branch/representative office licensing for cross-border banking operations.
Supervised institutions & FRS licence records in our database
22 licence records referencing FRS (22 regulated/registered).
| Institution | Licence number | Status | Licensed legal entity | Effective date | Verification |
|---|---|---|---|---|---|
| MUFG Bank(Global network record) | Number pending check | Regulated | MUFG BANK, LTD. | — | |
| Deutsche Bank AG(Global network record) | 214807 | Regulated | DEUTSCHE BK TC AMERICAS/DB USA CORP | — | |
| Farmers(Global network record) | 1133453 | Regulated | F & M Bank Corp. / Farmers & Merchants Bank | 1908 | |
| American Express(Global network record) | 1394676 | Regulated | AMERICAN EXPRESS NB/AMERICAN EXPRESS CO | — | |
| BofA(Global network record) | Number pending check | Regulated | Bank of America | — | |
| Cathay Bank(Global network record) | Number pending check | Regulated | CATHAY BANK | — | |
| Citibank, N.A.(Global network record) | Number pending check | Regulated | CITIGROUP INC. | — | |
| Fifth Third Bank(Global network record) | 723112 | Regulated | FIFTH THIRD BK NA/FIFTH THIRD BC | — | |
| KeyBank(Global network record) | 280110 | Regulated | KEYBANK NA/KEYCORP | — | |
| MS(Global network record) | 1456501 | Regulated | MORGAN STANLEY BK NA/MORGAN STANLEY | — | |
| Texas(Global network record) | 3642638 | Regulated | Texas Security Bankshares, Inc. | 2008 | |
| The Bank of New York Mellon(Global network record) | Number pending check | Regulated | The Bank of New York Mellon Trust Company, NA | — | |
| U.S. Bank(Global network record) | 504713 | Regulated | U S BK NA/U S BC | — | |
| Wells Fargo(Global network record) | 451965 | Regulated | WELLS FARGO BK NA/WELLS FARGO & CO | — | |
| Ally Financial(Global network record) | 3284070 | Regulated | ALLY BK/ALLY FNCL | — | |
| Alma(Global network record) | 3633173 | Regulated | ALMA BK | — | |
| East West Bank(Global network record) | 197478 | Regulated | EAST WEST BK | — | |
| GS(Global network record) | 2182786 | Regulated | GOLDMAN SACHS BK USA/GOLDMAN SACHS GROUP THE | — | |
| Popular Bank(Global network record) | 2736291 | Regulated | POPULAR BK/POPULAR | — | |
| State Street(Global network record) | 35301 | Regulated | STATE STREET B&TC/STATE STREET CORP | — | |
| SVB(Global network record) | 491224 | Regulated | FIRST-CITIZENS B&TC/FIRST CITIZENS BSHRS | — | |
| M&T Bank(Global network record) | 501105 | Regulated | MANUFACTURERS & TRADERS TC/M&T BK CORP | — |
FRS (United States): institutional licensing & due diligence FAQ
Key statutory capital, compensation, custody segregation, and verification answers for compliance teams.
What are the primary licensing classes and minimum capital requirements under FRS (United States)?
FRS (U.S. Federal Reserve System) supervises financial institutions in United States under Central Bank & Banking Supervision Act of United States and Basel III Capital Adequacy (CET1 / Tier 1 / Total Capital) & Liquidity (LCR / NSFR) Prudential Standards. Key statutory authorisation classes include: Class A / Commercial Banking Charter (Full Commercial & Institutional Banking Licence — min. capital: USD $10,000,000 – $50,000,000+ paid-up Tier 1 capital); EMI / Payment & FX Institution Licence (Authorised Payment Institution / Electronic Money & FX Remittance Licence — min. capital: USD $150,000 – $500,000 equivalent paid-up capital plus statutory central bank security deposit.). Ongoing prudential supervision requires strict adherence to capital adequacy and liquidity buffers.
Does FRS provide statutory investor compensation and mandatory client asset segregation?
Under FRS's framework, investor protection is governed by Statutory Deposit Insurance & Bank Resolution Scheme (United States) with maximum coverage of USD $100,000 – $250,000 / EUR €100,000 equivalent per eligible depositor (Retail depositors and eligible corporate deposit accounts held at licensed credit institutions.). For client money and custody assets, supervised firms must comply with FRS Prudential Safeguarding & Custody Directives, performing daily reserve and nostro/vostro liquidity reconciliation; 100% ring-fencing of payment institution safeguarding accounts. with central bank reserve accounts or ring-fenced statutory trust accounts at tier-1 correspondent banks..
How does FRS regulate digital assets, crypto exchanges (VASPs/CASPs), and stablecoins?
FRS's digital-asset regime is structured around FRS Prudential Cryptoasset Exposure (BCBS SCO60) & CBDC / Stablecoin Oversight (Regulates bank custody, payment settlement rails, fiat-backed stablecoin reserve backing, and Basel SCO60 capital weights.). Custody and AML/CFT compliance obligations require: Full FATF Recommendation 16 Wire Transfer & Virtual Asset Travel Rule compliance across supervised banking rails.
How can I verify an institution's FRS licence number and check our 22 recorded licence entries?
Our database currently tracks 22 licence records referencing FRS (22 marked regulated or registered). To verify a counterparty at the primary source, open FRS's official public register (https://www.federalreserve.gov/), search by the exact reference number and legal entity name, and confirm that the firm's domain and permitted activities match its statutory authorisation.
Related regulatory & market structure briefings
Research and compliance analysis from RegTech Codex relevant to FRS and United States.
RegTech & Prudential Compliance
European Financial Regulatory Architecture in 2026: DORA ICT Operational Resilience, MiCA CASP Prudential Supervision, and EU AMLA Direct Oversight
A comprehensive statutory compliance briefing analyzing Regulation (EU) 2022/2554 (DORA) ICT incident reporting and TLPT mandates, Regulation (EU) 2023/1114 (MiCA) Class 1-3 CASP and EMT/ART reserve rules, Regulation (EU) 2023/1113 Travel Rule, and Frankfurt AMLA direct supervision.
Regulatory Compliance & Licensing
FATF Travel Rule (Recommendation 16) Cross-Border VASP Compliance, EU AMLR/AMLA Supervision & FCA/MAS Client Asset Segregation Audits: 2026 Codex
Cross-border Virtual Asset Service Provider (VASP) compliance refers to the synchronized execution of cryptographic wire-transfer messaging under FATF Recommendation 16, direct supranational AML supervision under EU Regulation (EU) 2024/1624 (AMLR) and Regulation (EU) 2024/1113 (TFR), and statutory daily client asset segregation reconciliations mandated by the UK FCA CASS 7/CASS 15 and MAS PSN02/CMSA frameworks.
EU MiCA & DORA Compliance
EU DORA & MiCA Compliance Rules: ICT Incident Reporting, CTPP Oversight & CASP Licensing (2026)
The EU Digital Operational Resilience Act (DORA) mandates major ICT incident reporting within 4 hours (Source: Regulation EU 2022/2554, 2025-01-17) and full MiCA CASP authorization by July 1, 2026 (Source: ESMA, 2026-07-01).
EU MiCA & DORA Compliance
EU Digital Operational Resilience Act (DORA) ICT Risk & 4-Hour Incident SLA: Statutory Capital Floors, Prudential Ratios & Licensing Thresholds (4 Hours Major ICT Incident Alert Benchmark)
EU Digital Operational Resilience Act (DORA) ICT Risk & 4-Hour Incident SLA (EU-DORA-2022-2554) stands at 4 Hours (Major ICT Incident Alert) (Source: ESMA / EBA / EIOPA Joint RTS, 2026-10-20), governing initial permanent
Statutory licensing classes, base capital rules, and investor protection summaries for FRS (United States) are maintained for institutional benchmarking and do not constitute legal advice. Always verify current rulebooks and active firm authorisations directly on FRS’s official public register.