| Description |
-
Volume 6, Issue 2.
Summer
Last December, the Federal Reserve Board for the first time authorized the establishment of domestic International Banking Facilities. The stated purpose of the new policy was to attract back to the US banking transactions which had been conducted "offshore" - that is, beyond the reach of American legal jurisdiction - in order to escape American ... read moreregulation. In the following article, David W. Wise explains the conditions which led to the creation of offshore banking centers, describes recent Federal Reserve Board measures to facilitate unregulated banking operations conducted in the United States, and suggests some possible consequences of this policy.
read less
|
|---|
This object is in collection
