Seal of the United States Foreign Bondholders Protective Council (FBPC) on their annual reports.

Seal of the United States Foreign Bondholders Protective Council (FBPC) on their annual reports.

Corporation of Foreign Bondholders (UK) & Foreign Bondholders Protective Council (US)

Corporation of Foreign Bondholders (CFB)

The CFB was formed in 1868 to protect the interests of British holders of foreign bonds. In the early 1870s the organization began collecting information about economic and political conditions in countries that had borrowed from British investors. The council also monitored the credit history of borrowers and negotiated with foreign governments that defaulted on debts.

Foreign Bondholders Protective Council (FBPC)

In 1933, at the request of the Department of State, President Franklin D. Roosevelt, by Executive Order, created the Foreign Bondholders Protective Council to assist US citizens and creditors in collecting on defaulted foreign government bonds. Prior to formation of the private, non-profit FBPC, no permanent organization existed to negotiate settlements with defaulting debtors. The Council was particularly active before WWII, then again in the 1970s and 1980s. As recently as 2002, both the Department of State and the Securities and Exchange Commission recommended that creditors who hold more than 18,000 Chinese government bonds issued between 1913 and 1942 seek the FBPC's assistance in negotiating fair settlements.