What is seen as a reason for the increased expansion of foreign bank activities in the United States following the passage of the International Banking Act?
A)Access to the Federal Reserve's discount window, Fedwire, and FDIC insurance.
B)Absence of the Federal Reserve's reserve requirements, audits, and exams.
C)No interstate branching restrictions.
D)No restrictions on corporate securities underwriting activities.
E)Answers C and D only.

Question

Quizplus · Accepted Answer

The International Banking Act allowed foreign banks to access the Federal Reserve's discount window, Fedwire, and FDIC insurance, which facilitated their expansion in the U.S.

What Is Seen as a Reason for the Increased Expansion