Extent of Foreign Bank Representation
The expansion of foreign bank operations in the United States has been impressive. Over 150 foreign banks now operate representative offices, agencies, branches and subsidiaries in the United States, representing all major European countries, Canada, Japan and a growing number of less developed countries. At yearend 1974 foreign banks held U.S. assets in excess of $56 billion. The range of operations of foreign banks has broadened in recent years, and now includes lending in the domestic credit markets, retail banking, money market activities, stock market transactions, and securities underwriting.
KeywordsDeposit Insurance Foreign Bank Banking Institution Retail Banking Federal Deposit Insurance Corporation
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