Which of the following is (are) the key component(s) included in the International Banking Act (IBA) of 1978?
A) Foreign banks are required to follow the same branching laws as U.S.banks.
B) Legal reserves requirements determined by the Federal Reserve Board are compulsory against deposits accepted by U.S.branch or agency offices of foreign banks with consolidated assets of $1 billion or more.
C) U.S.branches of foreign banks are eligible for deposit insurance under stipulated conditions.
D) U.S.branches of foreign banks have access to certain Federal Reserve services,such as the ability to borrow from the Federal Reserve banks.
E) All of the options are correct.
Correct Answer:
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