Divisions in U.S. banks that are permitted to engage in Eurocurrency type banking in dollars with foreign residents are called ________.

Question

Quizplus · Accepted Answer

International banking facilities (IBFs) are U.S. bank divisions that engage in Eurocurrency-type banking in dollars with foreign residents. These divisions are not subject to reserve requirements, deposit insurance assessments, or other regulations that apply to traditional U.S. banking operations.