Edge Act Corporation
Edge Act corporations have gone through structural changes since they were first implemented in 1919. Economies, and therefore financial institutions, are much more international today, and many of the restrictions once in place limiting foreign banking activity have since been relaxed. Edge Act revisions in 1984 allowed companies engaged in international business, such as trading and shipping firms, and international airlines, to provide full banking services, including taking deposits and granting loans. The Federal Reserve retains the right to monitor ownership of these corporations and their future investment and business activities.
Investment dictionary. Academic. 2012.
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Edge Act Corporation — An Edge Act Corporation is a corporation chartered by the Federal Reserve of the United States under the Edge Act to engage in international banking operations. The Federal Reserve Board acts upon applications by U.S. and foreign banking… … Wikipedia
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