International Banking Facilities
From ACT Wiki
US banking.
(IBFs).
Free monetary zones in the United States that can be established by certain corporations and by US branches and agencies of foreign banks.
The IBFs accepting foreign deposits are exempted from reserve requirements and interest rate restrictions and can make loans to foreign borrowers.
The impact of their operations is that some dollars deposited in time deposits in the United States effectively become Eurodollars.
See also
- Eurodollars
- Term deposits = time deposits
