Which of the Following Is Not a Feature of the Foreign

question 78

Multiple Choice

Which of the following is not a feature of the Foreign Bank Supervision Enhancement Act?

• A)The Federal Reserve has the power to close a foreign bank if it is engaged in unsafe and unsound banking practice.
• B)The Federal Reserve has the responsibility to examine each subsidiary,branch,agency,or representative office at least once each year.
• C)The Fed's approval is necessary to establish a subsidiary,branch,agency or representative office in the U.S.
• D)Only foreign subsidiaries with access to FDIC insurance can take retail deposits under $100,000.

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Definitions:

Federal Contractors

Companies or individuals that enter into contracts with the federal government to provide goods or services, subject to specific regulations and requirements.

Workers' Compensation

A form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue their employer for negligence.

Contributorily Negligent

Pertaining to a situation where an injured party may have contributed to their own harm or loss and thus may be partially responsible.

Recognized Standard

A set of criteria, norms, or guidelines that are widely accepted and implemented within a particular industry or field.