12 C.F.R. § 347.213
Establishment or operation of noninsured foreign branch
(a) A foreign bank may establish or operate a state branch, as provided by state law, without federal deposit insurance whenever:
(1) The branch only accepts initial deposits in an amount equal to the SMDIA or greater; or
(2) The branch meets the criteria set forth in § 347.214 or § 347.215.
(b) [Reserved]