A(n)________ is a subsidiary of a U.S. bank that is engaged primarily in international banking.
A)Edge Act corporation
B)Eurodollar agency
C)universal bank
D)McFadden corporation

Question

Quizplus · Accepted Answer

An Edge Act corporation is a specialized subsidiary of a U.S. bank that engages in activities related to international banking, such as foreign lending, financing of foreign trade, and international capital markets activities. It is named after the Edge Act of 1919, which created a framework for the establishment of such subsidiaries. Eurodollar agencies are financial intermediaries that deal in Eurodollars (U.S. dollars held in banks outside of the United States) and are not necessarily affiliated with U.S. banks. Universal banks are banks that offer a wide range of financial services, including commercial banking, investment banking, and insurance. McFadden Corporation is not a recognized term in the context of international banking.

A(n)________ Is a Subsidiary of a U