For U.S. bank to set up an international banking facility IBF), the bank must:

Question

Quizplus · Accepted Answer

In order for a U.S. bank to set up an international banking facility (IBF), they do not need to construct a separate branch or set up a bank in an offshore banking center. However, they must keep a separate record of any loans or deposits done by the IBF, as this helps to ensure that the IBF's activities do not commingle with the domestic banking operations of the bank. Additionally, they do not need to obtain annual permission from the Federal Deposit Insurance Corporation (FDIC), as IBFs are exempted from the FDIC's insurance program.

For US Bank to Set Up an International Banking Facility IBF)