Multiple Choice
Edge Act banks are so-called becauseE. Edge of New Jersey sponsored the 1919 amendment to Section 25 of the Federal Reserve Act to allow U.S. banks to be competitive with the services foreign banks could supply their customers.
A) the are Federally chartered subsidiaries of U.S. banks that are physically located in the United States and are allowed to engage in a full range of international banking activities.
B) Senator Walter
C) they can only be chartered in states that are on the borders of the United States-on the "edge" of the map.
D) none of the above
Correct Answer:
Verified
Correct Answer:
Verified
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