A bill to authorize any national bank to establish branches outside of the State in which such national bank is located and to authorize any bank holding company to acquire control of banks located outside of the State in which such bank holding company is located.

Allows any national banking association, with the approval of the Comptroller of the Currency, to establish and operate new branches in any State other than that in which the association is located. Stipulates that such branches may be established and operated only as are specically authorized by such other State's law pertaining to State banks.

Amends the Bank Holding Company Act of 1956 to allow any bank holding company to acquire interest in a bank located outside the State in which such company's banking operations are principally conducted.