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Edge Act Corporation
(redirected from Edge Act Corporations)

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Edge Act corporation
Corporation chartered by the Federal Reserve to engage in international banking. The Board of Governors acts on applications to establish Edge Act corporations and also examines the corporations and their subsidiaries. Named after Senator Walter Edge of New Jersey, who sponsored the original legislation to permit formation of such organizations. See also: agreement corporation.
Edge Act Corporation
A bank chartered by the Federal Reserve to conduct international banking transactions without needing to abide by the banking laws of an individual state. Edge Act corporations were established by the Edge Act in 1919 and have since undergone several legal revisions. Because banking is more international today there are fewer distinctions between Edge Act corporations and ordinary banks.
Edge Act corporation
A corporation established under the 1919 Edge Act to undertake activities in international banking and investing. The Act gives U.S. firms more flexibility in competing effectively with foreign firms. Corporations established under the Edge Act are often organized in order to finance foreign trade or to own foreign securities.
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Foreign banks are also allowed to establish Edge Act Corporations.
International trade financing: the U.S. versus the world by Jesswein, Kurt R. / Journal of International Business Research
The Banking Group focuses its resources on servicing Florida chartered banks, national banks and foreign bank holding companies, Edge Act corporations, international bank agencies and representative offices of foreign banks in the United States.
Steel Hector & Davis LLP. (Focus on Special Advertising Feature) by Latin Trade
Miami's 13 Edge Act Corporations account for 64% of foreign assets managed by Edge Acts nationwide," said Roussakis, co author of the study.
International Banking Industry Contributes $3 billion to Florida ... by Business Wire
 
 
 
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