________ Banks are responsible for maintaining foreign accounts and are free from the banking regulation of that particular country.
________ Banks are responsible for maintaining foreign accounts and are free from the banking regulation of that particular country.
1). Edge act bank
2). Subsidiary bank
3). Foreign branch bank
4). Off shore bank
1 answers
|
Type of banks |
Description |
|
Edge act bank |
Subsidiary banks based on the constitutional amendment of 1919. |
|
Subsidiary bank |
Banks incorporated in one country which is either partially or completely owned by a parent bank in another country. |
|
Foreign branch bank |
Banks which are legally tied up with the parent bank but operate in a foreign nation |
|
Off shore bank |
Banks responsible for maintaining foreign accounts and are free from the banking regulation of that particular country |
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