what is Edge Act banks
State what is meant by Edge Act banks.
Expert
Edge Act banks are federally chartered subsidiaries of the U.S. banks that are located in United States which are allowed in order to engage in the full range of international banking activities. A 1919 amendment to Section 25 of Federal Reserve Act created the Edge Act banks. Main aim of the amendment was to enable the U.S. banks to be competitive along with the services foreign banks could provide to their customers. Federal Reserve Regulation K enables Edge Act banks in order to accept the foreign deposits, finance foreign projects abroad, extend trade credit, trade foreign currencies, and engage within the investment banking activities along with the U.S. citizens including foreign securities. As such, Edge Act banks do not compete directly with services offered by the U.S. commercial banks. Edge Act banks are not banned from owning the equity in business corporations as domestic commercial banks are. Therefore, it is through Edge Act which U.S. parent banks own foreign banking subsidiaries and have ownership positions in the foreign banking affiliates.
Techniques of valuation of goodwill: A) Average profit technique B) Super profit technique C) Capitalization technique
Why it would be useful to examine a balance of payments of the country data?
Derive and explain monetary approach in order to determine the exchange rate.
What is the meaning of Bill and Hold in Accounting? Briefly describe it.
The Webster Company uses the aging method to estimate the allowance for doubtful accounts. The following schedule of accounts receivable was prepared as at December 31, 20x6: Age Balance % uncollectible 0-30 days $674,000 0.5% 31-60 days 186,000 1.2% <
What are the merits and demerits of the techniques shown below of depreciation? • Straight line process • Reducing balance process• Revaluation process • Usage process &b
Give a short introduction of the term ‘Budget Manual’?
Describe Long Holding Period briefly with suitable example?
Suppose that your company has an equity position within the French firm. Explain some of the condition under which the dollar/franc exchange rate uncertainty does not have the exchange exposure for your company.
Explain the term Goodwill with espect to intangible asset?
18,76,764
1925871 Asked
3,689
Active Tutors
1455431
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!