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Question
Which of the following is not a feature of the Foreign Bank Supervision Enhancement Act?
A. The Federal Reserve has the power to close a foreign bank if it is engaged in unsafe and unsound banking practice.
B. The Federal Reserve has the responsibility to examine each subsidiary, branch, agency, or representative office at least once each year.
C. The Fed's approval is necessary to establish a subsidiary, branch, agency or representative office in the U.S.
D. Only foreign subsidiaries with access to FDIC insurance can take retail deposits under $100,000.
E. After December 19, 1992, state-licensed agencies and branches could not engage in any activity no permitted to a federal branch.
Answer
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Related questions
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