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The Role of Small Foreign Bank Offices in the United States  


Author:  Muhammad Hussain.


Source: Volume 27, Number 04, March/April 2014 , pp.51-58(8)




Journal of Taxation and Regulation of Financial Institutions

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Abstract: 

In response to recent fines over their international finance activities, large U.S. banks have recently curtailed their involvement with small foreign banks operating in the U.S. To help U.S. banks and other financial institutions to better assess their relationships with such entities this article provides an overview of how small foreign bank offices operate and are regulated in the United States, explains why New York is venue of choice for small foreign banks, and analyzes the financial services that lead them to open U.S. offices in the first place.

Keywords: international trade finance; foreign bank offices; New York State Department of Financial Services; correspondent banking; anti-money laundering regulation; foreign bank activities

Affiliations:  1: New York Law School.

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