A ________ is a subsidiary of a U.S.bank that is engaged primarily in international banking.

Question

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An Edge Act corporation is a subsidiary of a U.S. bank that is authorized to engage primarily in international banking operations. The name is derived from the Edge Act, which was passed by the U.S. Congress in 1919 to allow national banks to engage in foreign banking activities. Edge Act corporation operations may include making loans to foreign entities, acting as a financial intermediary between foreign companies and the parent bank, and engaging in foreign currency transactions.

B) Eurodollar agency and D) McFadden corporation are not accurate choices as they do not refer specifically to subsidiaries of U.S. banks engaged primarily in international banking.

C) Universal bank is a type of financial institution that combines commercial banking, investment banking, and other financial services under one roof. While universal banks may engage in international banking activities, they are not exclusively focused on this type of business like an Edge Act corporation.

A ________ Is a Subsidiary of a U