Edge Act banks are so-called because
A) they are federally chartered subsidiaries of U.S.banks that are physically located in the United States and are allowed to engage in a full range of international banking activities.
B) Senator Walter E.Edge of New Jersey sponsored the 1919 amendment to Section 25 of the Federal Reserve Act to allow U.S.banks to be competitive with the services foreign banks could supply their customers.
C) they can only be chartered in states that are on the borders of the United States-on the "edge" of the map.
D) none of the options
Correct Answer:
Verified
Q50: An offshore banking center is
A)a country whose
Q51: LIBOR
A)is a market rate,analogous to the U.S.Federal
Q52: Edge Act banks
A)are not prohibited from owning
Q53: A subsidiary bank is
A)a locally incorporated bank
Q54: LIBOR
A)is the London Interbank Offered Rate.
B)is the
Q56: Both subsidiary and affiliate banks
A)operate under the
Q57: The Eurocurrency market
A)is only in Europe.
B)is an
Q58: The primary activities of offshore banks
A)include money
Q59: Which banks cannot accept foreign deposits?
A)Domestic banks
Q60: Eurocurrency
A)is the euro,the common currency of Europe.
B)is
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents