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Agreement Corporation |
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Agreement corporation Corporation chartered by a state to engage in international banking: so named because the corporation enters into an "agreement" with the Fed's Board of Governors that it will limit its activities to those permitted by an Edge Act Corporation. Agreement Corporation A corporation that has received a charter from a state to engage in international banking. Under the Agreement Corporation Act, agreement corporations are allowed to receive funds from national corporations and use them to engage in international banking. They are called "agreement" corporations because they agree to abide by the restrictions of the Agreement Corporation Act and the Edge Act, though many of those restrictions have since been relaxed. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| ? Mentioned in | ? References in periodicals archive | |
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, also in Birmingham,
an agreement corporation subsidiary of SouthTrust of Alabama, pursuant
to sections 25 and 25A of the Federal Reserve Act and the Board's
Regulation K. JP Morgan also proposes to acquire
Bank One Corporation's Edge and Agreement corporations, which are
organized under sections 25 and 25A of the Federal Reserve Act. (b) Banking institution means a State member bank; bank holding
company; Edge Corporation and Agreement Corporation engaged in banking. |
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