Competing Against Foreign Banks Can Be Difficult for U

question 97

Multiple Choice

Competing against foreign banks can be difficult for U.S.banks because:

• A)it is illegal to take more than $10,000 worth of U.S.currency out of the country
• B)the Federal Reserve has no control over international banking
• C)foreign banks are subject to fewer regulations than U.S.banks
• D)U.S.banks are not used to the pure competition that exists in the banking industry in many Asian countries
• E)international banks are so risk-aversive

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