In a(n)________ the bulk of the financial activity is with nonresident counterparties.

Question

Quizplus · Accepted Answer

An offshore banking center is a jurisdiction with a favorable regulatory and tax environment that attracts foreign financial institutions and their clients. The bulk of financial activity in these centers is typically with nonresident counterparties, making it the best choice for this question. The other options, such as a representative office, correspondent bank, or foreign branch of a bank, may engage in financial activities with nonresident counterparties but are not exclusively focused on them like offshore banking centers.

In A(n)________ the Bulk of the Financial Activity Is with Nonresident