Edge Act and Agreement Corporations
In the first two decades of this century American banks depended on their international banking affiliates as the major vehicle for expanding their foreign banking activities. Until 1925 these corporations operated more overseas branches than did the banks themselves.1Thereafter, as U.S. international banking activities declined, less emphasis was given to the use of this means of conducting foreign operations. More recently, attention has focused on the international banking corporation for at least two reasons. First, these corporations permit their parent banks to undertake international banking activities across state lines. Second, these corporations have the power to purchase and hold the stock of foreign companies.
KeywordsForeign Bank Equity Investment Investment Company Equity Holding International Banking
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- 1.Frank M. Tamagna and Parker B. Willis, ‘United States Banking Organization Abroad’, Federal Reserve Bulletin, December 1956, p. 1289.Google Scholar
- 4.Allen F. Goodfellow, International Corporations of American Banks, unpublished thesis, Stonier Graduate School of Banking, Rutgers, June 1968, p. 9.Google Scholar
- 5.George H. Bossy, ‘Edge Act and Agreement Corporations in International Banking and Finance’, Monthly Review, Federal Reserve Bank of New York, May 1964, p. 89.Google Scholar
- 10.Frank M. Tamagna and Parker B. Willis, ‘United States Banking Organization Abroad’, Federal Reserve Bulletin, December 1956, p. 1292.Google Scholar