________ of a foreign bank operates in the U.S. but cannot accept deposits from domestic residents.
A)An agency office
B)A universal corporation
C)A McFadden corporation
D)A Basel branch

Question

Quizplus · Accepted Answer

An agency office of a foreign bank operates in the U.S. as a liaison or representative office but cannot accept deposits from domestic residents. Its purpose is mainly to promote business opportunities and facilitate transactions between the U.S. and the foreign bank's headquarters. Universal corporation and Basel branch are not recognized banking terms, and McFadden corporation refers to a U.S. banking law from 1927 that limits branch banking across state lines but is unrelated to foreign banks.

________ of a Foreign Bank Operates in the U