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United States: International Banking Act of 1978 and Excerpts from the Financial Institutions Regulatory and Interest Rate Control Act of 1978*

Published online by Cambridge University Press:  20 March 2017

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Type
Legislation and Regulations
Information
International Legal Materials , Volume 18 , Issue 1 , January 1979 , pp. 167 - 180
Copyright
Copyright © American Society of International Law 1979

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Footnotes

*

[Excerpts from the Financial Institutions Regulatory and Interest Rate Control Act of 1978 appear at I.L.M. page 177.]

[The Board of Governors of the Federal Reserve System eliminated the 10 percent minimun reserve requirement on U.S. deposits of so-called "Edge Corporations". Effective November 16, 1978, corporations engaged in international banking and financial operations will be subject to reserve requirements as if they were member banks of the Federal Reserve System. See Final Rule in U.S. Federal Register, Vol. 43, No. 228 (November 27, 1978), pp. 55238-39.]

References

* [Excerpts from the Financial Institutions Regulatory and Interest Rate Control Act of 1978 appear at I.L.M. page 177.]

[The Board of Governors of the Federal Reserve System eliminated the 10 percent minimun reserve requirement on U.S. deposits of so-called "Edge Corporations". Effective November 16, 1978, corporations engaged in international banking and financial operations will be subject to reserve requirements as if they were member banks of the Federal Reserve System. See Final Rule in U.S. Federal Register, Vol. 43, No. 228 (November 27, 1978), pp. 55238-39.]