Which of the following is not true regarding Edge Act banks? A) Edge Act banks may be owned by U.S. banks. B) Edge Act banks may be owned by foreign banks. C) Edge Act banks may be owned by bank holding companies. D) Edge Act banks may be located outside the U.S. E) Edge Act banks may be located in the U.S.

Question

Quizplus · Accepted Answer

Edge Act banks, established under the Edge Act of 1919, are chartered by the Federal Reserve to engage in international banking and finance operations. While they primarily focus on international activities, they must be located within the U.S., not outside.

Which of the Following Is not True Regarding Edge Act