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Foreign bank representative offices (not Authorised Deposit-taking Institutions)

What is a foreign bank representative office?

A foreign bank wishing to establish a representative office in Australia must obtain the written consent of the Australian Prudential Regulation Authority (APRA). Consent is required for a foreign bank to use the word "bank" or its equivalent as part of the bank's corporate name in connection with maintaining a representative office.

Minimum entry standards must be met and the representative office must comply with certain operating conditions, set by APRA.