The IIB's mission is to ensure that federal and state banking laws and regulations provide international banks operating in the United States with the same competitive opportunities as domestic banking organizations. Applying U.S. banking laws and regulations to the U.S. branches, agencies, securities affiliates and other operations of international banks is enormously complicated and can produce unintended adverse results. The IIB therefore carefully monitors legislative, regulatory and judicial developments at the federal and state level and advocates, as appropriate, to seek results that are consistent with the U.S. policy of national treatment and advancing the interests of its members. The IIB also seeks to ensure that the global operations of its member banks are not subject to unwarranted extraterritorial applications of U.S. laws. Founded in 1966, the IIB is the only national association devoted exclusively to representing and advancing the interests of internationally-headquartered banking/financial institutions operating in the United States. Its membership is comprised of internationally headquartered institutions from over 35 countries around the world. Collectively, the U.S. branches, agencies, banking subsidiaries, securities affiliates and other operations of the IIB's member banks are an important source of credit for U.S. borrowers and enhance the depth and liquidity of U.S. financial markets. IIB member banks also inject billions of dollars each year into the economies of major cities across the country through the direct employment of U.S. citizens and permanent residents, as well as through other operating and capital expenditures.