International Banking Facilities and the Eurodollar Market

Henry S. Terrell and Rodney H. Mills

Chapter 6 in Eurodollars and International Banking, 1985, pp 183-220 from Palgrave Macmillan

Abstract: Abstract The Federal Reserve Board permitted the establishment of international banking facilities (IBFs) in the United States beginning in early December 1981. The Board took this action to allow US offices of depository institutions to be more competitive in conducting banking business with non-US residents. Through IBFs, non-US residents can conduct banking transactions in the United States free of any reserve requirements or interest rate limitations, and without the costs of insurance by the Federal Deposit Insurance Corporation. In addition, various states have amended their tax structures to grant IBFs relief from locally imposed taxes.2

Keywords: Interest Rate; Federal Reserve; Foreign Bank; Exchange Rate Change; Reserve Requirement (search for similar items in EconPapers)
Date: 1985
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DOI: 10.1007/978-1-349-07120-3_7

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