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Question
Which of the following is NOT true about International Banking Facilities (IBFs)?a. IBFs may be established by a U.S.-chartered depository institution, a U.S. branch or agency of a foreign bank, or a U.S. office of an Edge Act Corporation.
b. An IBFs is a set of asset and liability accounts segregated on the books of the establishing institution.
c. IBFs can accept deposits over $100,000 from non-U.S. residents or other IBFs.
d. Deposits generated can be used to make domestic loans only.
e. All of the above is true.
Answer
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Related questions
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In recent years, know-your-clients (KYC) is required by international financial regulators. In the U.S., what is the act that requires financial institutions to share information about customer identities with appropriate government agencies?
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d. The U.S. Treasury Department Act
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