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Agency Bank |
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Agency bank A form of organization commonly used by foreign banks to enter the US market. An agency bank cannot accept deposits or extend loans in its own name; it acts as agent for the parent bank. It is also the financial_institution that issues ADRs to the general market. Agency Bank A separately incorporated branch of a foreign bank inside the United States. Agency banks cannot make loans or take deposits in their own name; rather, they do so on behalf of the parent bank in the foreign country. They also are the main issuers of American Depository Receipts. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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