I was trying to find the answer to this question for a while and have not been successful.

Seems that EverBank is still the only US bank offering FDIC insured Certificats of Deposit (CD) and savings accounts in foreign currency to the retail customers, albeit at rather high markups, uncompetitive exchange rates and substandard interest rates, and has been enjoying great success doing that.

The obvious question is: what is the catch? Would wouldn't any other bank in all of the US offer a similar service? Even HSBC that offers various accounts in the UK, Australia and many other countries does not offer savings accounts in foreign currencies to the retail customers in the US. Are there any regulatory complications that only EverBank was able to overcome?

Really curious to know the answer to this question, because it is a unique situation where just one bank in all of United States offers a rather popular service and no one wants to compete.