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Edge Act Corporation
(redirected from Edge Corporation)

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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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This action reflects the closing of the Edge corporation as of December 31, 2004.
Enforcement actions by Federal Reserve Bulletin
CLS Bank is based in New York and is an Edge Corporation bank supervised by the Federal Reserve.
CLS and ICAP Joint Venture to Reduce Risk and Cost in Pre-Settlement ... by Business Wire
a bank holding company, and Riggs International Banking Corporation, Miami, Florida, an Edge corporation.
Enforcement actions by Federal Reserve Bulletin
 
 
 
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