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CITIBANK, N. A. v. WELLS FARGO ASIA LTD.,

No. 88-1260.

495 U.S. 660 (1990)

110 S.Ct. 2034

109 L.Ed.2d 677

CITIBANK, N. A. v. WELLS FARGO ASIA LTD.

Supreme Court of United States.

Decided May 29, 1990

Attorney(s) appearing for the Case

Robert H. Bork argued the cause for petitioner. With him on the briefs were Arnold M. Lerman, David Westin, Kenneth S. Geller, and Mark I. Levy.

Deputy Solicitor General Merrill argued the cause for the United States as amicus curiae urging reversal. With him on the brief were Solicitor General Starr, Assistant Attorney General Gerson, Jeffrey P. Minear, Abraham D. Sofaer, J. Virgil Mattingly, and Robert B. Serino.

Darryl Snider argued the cause for respondent. With him on the brief were George A. Cumming, Jr., Thomas M. Peterson, and Edwin E. McAmis.*

JUSTICE KENNEDY delivered the opinion of the Court.

At issue here is whether the home office of a United States bank is obligated to use its general assets to repay a Eurodollar deposit made at one of its foreign branches, after the foreign country's government has prohibited the branch from making repayment out of its own assets.

I

The case arises from a transaction in what is known in the banking and financial communities as the Eurodollar market...

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