Edge corporations

Edge corporations

Specialized banking institutions, authorized and chartered by the Federal Reserve Board of Governors in the U.S., that are allowed to engage in transactions of a foreign or international character. They are not subject to restrictions on interstate banking. Foreign banks operating in the U.S. are permitted to organize and own an edge 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.
References in periodicals archive ?
Regulation K defines the extent of permissible deposit-taking activities of Edge corporations.
As strong believers that all organizations need to increase their sophistication and acumen for managing foreign exchange, our intention is to provide a learning environment for corporate finance and accounting professionals to learn from cutting edge corporations, such as Hypercom, that have successfully established cost effective and compliant risk management.
Used worldwide by leading edge corporations, research institutions and government laboratories, Etnus products help eliminate the frustration, delays and headaches inherent in analyzing multiprocessor and network-distributed applications containing many lines of code or advanced programming techniques such as MPI, Threads, and OpenMP.
Implements recent statutory changes authorizing a bank to invest up to 20 percent of capital and surplus in Edge corporations
2) In addition, Deutsche Bank proposes to acquire the Edge corporations of BT Corp pursuant to section 25A of the Federal Reserve Act (12 U.
As an initial matter, it is important to realize that there are only a handful of banks that engage to any significant extent through Edge corporations in activities not permissible to their parent bank, and these banks engage primarily in various securities activities.
Of those offices, 10 were bank subsidiaries, 147 were branches and agencies, 2 were Edge corporations, and 3 were New York state-chartered Article XII investment companies.
Moreover, the Edge Act directs the Board to create a regulatory climate in which Edge corporations may compete effectively with foreign banks.
The Oracle Alliance tackles the challenges faced by large, leading edge corporations such as Lockheed Martin, and together we help integrate and optimize their extensive enterprises with cutting-edge network computing solutions to compete in the 21st century," said Polly Sumner, vice president, Oracle Worldwide Alliance.
Avesta Technologies' solutions," continued Saifi, "are aimed at cutting edge corporations with enterprise-wide networks that are evolving to far more than just boxes and wires interconnecting sites.
For leading edge corporations pursuing business advantage through better management of their knowledge, Collaborative Strategies will help GroupWorX select the most appropriate technology platform for each client's needs.
b) Banking institution means a State member bank; bank holding company; Edge Corporation and Agreement Corporation engaged in banking.