New PDF release: Foreign Banking and Investment in the United States: Issues

By Francis A. Lees

ISBN-10: 1349028398

ISBN-13: 9781349028399

ISBN-10: 134902841X

ISBN-13: 9781349028412

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Extra resources for Foreign Banking and Investment in the United States: Issues and Alternatives

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Federal funds). Where other money market sectors are sufficiently developed foreign banks will endeavour to tap these sources as well. Foreign banks operating in the United States tend to reflect these funding difficulties. S. PRESENCE 23 resources of foreign banks came from foreign sources (Table 3-1). S. S. S. S. S. S. S. 4 securities 1. S. 9 Capital and reserves 0. 1 Includes loans to security dealers. Source: Statement by George W. Mitchell, Vice-Chairman, Board of Governors of the Federal Reserve System before the Subcommittee on International Finance of the Committee on Banking, Housing and Urban Affairs, United States Senate, 23 January 1974.

S. or acquired ownership in existing securities firms. In a number of cases foreign banks jointly own a New York based securities affiliate. S. S. also conduct commercial banking operations (through branch offices). This gives these foreign institutions an advantage over American banks, which are prohibited from simultaneously engaging in investment banking and commercial banking by the Glass-Steagall Act. , and in Chapter 6 where we discuss the investment banking and portfolio management activities of foreign banks in further detail.

S. representation, in that it has been confined largely to investment banking or securities affiliates. In addition, the large German banks have established branch offices in New York. We have already referred to the Deutsche Bank investment in UBS-DB Corporation, New York. S. securities. S. investment banking firms. Early in 1972 four European banks formed ABD Securities Corporation, to conduct a general securities and investment banking business. This firm succeeded the ABN Corporation, previously owned by the Algemene Bank Nederland N.

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Foreign Banking and Investment in the United States: Issues and Alternatives by Francis A. Lees

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