In December 1995 the Federal Reserve Board voted to allow U.S. banks to acquire foreign business interests without prior notice provided the banks involved devote no more than 2 percent of capital to the new venture and are already well capitalized and well managed.

Question

Quizplus · Accepted Answer

The Federal Reserve Board made this decision to give U.S. banks more flexibility in expanding their foreign business interests, with certain conditions to ensure the banks remain stable and well-managed.

In December 1995 the Federal Reserve Board Voted to Allow