Which of the following was not an operating characteristic of foreign banks operating in the U.S.prior to the International Banking Act of 1978?
A)They had no access to the Federal Reserve's discount window.
B)They were not subject to the Federal Reserve's audits and exams.
C)They had special rates on FDIC deposit insurance.
D)They could not use the Fedwire or the fed funds market.

Question

Quizplus · Accepted Answer

Foreign banks operating in the U.S. prior to the International Banking Act of 1978 did not have special rates on FDIC deposit insurance. The other three options were operating characteristics of foreign banks. They had no access to the Federal Reserve's discount window, were not subject to the Federal Reserve's audits and exams, and could not use the Fedwire or the fed funds market.

Which of the Following Was Not an Operating Characteristic of Foreign