Author Question: Which of the following is true of International Banking Facilities (IBFs) in the U.S.? a. IBFs were ... (Read 119 times)

jerry coleman · **on:** Jun 30, 2018

Which of the following is true of International Banking Facilities (IBFs) in the U.S.?
a. IBFs were legalized by the Federal Reserve Board in 1970.
b. IBFs are bookkeeping systems set up in existing bank offices of the U.S. to record international banking transactions
c. IBFs are shell bank branches of U.S. banks in the Caribbean.
d. Loans extended by the IBFs are subject to reserve requirements and interest rate regulations.
e. IBFs are allowed to extend loans to the residents and businesses of the United States and not to the nonresidents.

Question 2

If a price ceiling is not binding, then it will have no effect on the market.
a. True
b. False
Indicate whether the statement is true or false