Agency bank

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.
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These features are fully integrated with the suite and its modules making it easy to perform tasks like license management, creating flexible commissioning structures, and conducting agency bank account sweep for commission payments and clawbacks.
That's why politics is still a driving force in corporate finance, says Patricio Baus, general manager for Ecuador at the risk-ratings agency Bank Watch, a unit of the Fitch ratings agency.
The issuer became an agency bank in order to enable Direct Debit payments from the prepaid card.
Dutch public-sector agency Bank Nederlandse Gemeenten (BNG) will price its three-year, dollar-denominated bond at 15 basis points over midswaps, Dow Jones has reported, citing one of the banks managing the sale.
Dutch public sector agency Bank Nederlandse Gemeenten (BNG) (BNG.
Taiwanese banks can also take part in the market by attending cross-border renminbi trade settlement mechanism or opening accounts at renminbi clearance banks in Hong Kong or Macao or Chinese agency banks.
manufacturer Weetabix brand Weetos bars agency Banks Hoggins O'Shea budget undisclosed
The Agency Banks are given agency commissions or turnover commissions by the country s apex lender for management business on behalf of the Government.
In order to facilitate the payment of taxes by the tax-payers before the close of the Financial Year 2013-14, the Reserve Bank of India (RBI) has decided on request of Central Board of Direct Taxes (CBDT) that all agency banks shall keep open the counters of their designated branches conducting Government Business on Saturday, March 29, 2014.
For shareholders who opted for payment entirely in cash, the dividend will be made payable as from 14 September 2001 at several paying agency banks.
The banking regulator has designated 29 public and private sector banks as agency banks to accept payments of income-tax dues.
For shareholders who opted for payment entirely in cash, the dividend will be made payable as from September 17, 1999 at several paying agency banks.