▁an ▁inter ag ency ▁office ▁of ▁the ▁United ▁States ▁government , ▁" any ▁bank ing ▁organization ▁with ▁a ▁reg ulated ▁U . S . ▁presence ▁may ▁become ▁an ▁owner ▁and ▁particip ate ▁in ▁the ▁network ." ▁CH IP S ▁participants ▁may ▁be ▁commercial ▁banks , ▁Edge ▁Act ▁corpor ations ▁or ▁invest ment ▁companies . ▁Until ▁ 1 9 9 8 , ▁to ▁be ▁a ▁CH IP S ▁particip ant , ▁a ▁financial ▁institution ▁was ▁required ▁to ▁maintain ▁a ▁branch ▁or ▁an ▁ag ency ▁in ▁New ▁York ▁City . ▁A ▁non - part icip ant ▁wish ing ▁to ▁make ▁international ▁pay ments ▁using ▁CH IP S ▁was ▁required ▁to ▁employ ▁one ▁of ▁the ▁CH IP S ▁participants ▁to ▁act ▁as ▁its ▁correspond ent ▁or ▁agent . ▁ ▁List ▁of ▁members ▁, ▁the ▁member ▁participants ▁( with ▁country ▁of ▁ownership ) ▁are : ▁▁ ▁AB N ▁AM RO ▁Bank ▁N . V . ▁ ▁Netherlands ▁ ▁American ▁Express ▁Bank ▁Ltd . ▁ ▁United ▁States ▁ ▁Ban co ▁Bil ba o ▁V iz c aya , ▁S . A . ▁ ▁Spain ▁ ▁Ban co ▁de ▁la ▁N acion ▁Argentina ▁ ▁Argentina ▁ ▁Ban co ▁do ▁Brasil ▁S . A . ▁ ▁Brazil ▁ ▁Bang k ok ▁Bank ▁Public ▁Company ▁Limited ▁ ▁Th ailand ▁ ▁Bank ▁H ap o al im ▁B . M . ▁ ▁Israel ▁ ▁Bank ▁Le umi ▁USA ▁ ▁United ▁States ▁ ▁Bank ▁of ▁America , ▁N . A . ▁ ▁United ▁States ▁ ▁Bank ▁of ▁China ▁ ▁China ▁ ▁Bank ▁of