Advisory Opinion 2007-02A

This document is an advisory opinion from the U.S. Department of Labor Employee Benefits Security Administration regarding whether a U.S. branch of a foreign bank that is licensed to engage in banking and trust business by a state regulator and subject to the same level of oversight and regulation as a state-chartered bank would qualify as a "bank or trust company" for purposes of ERISA section 408(b)(8) and Prohibited Transaction Exemption 91-38.