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International Banking Facilities and the Eurodollar Market

In: Eurodollars and International Banking

Author

Listed:
  • Henry S. Terrell
  • Rodney H. Mills

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

Suggested Citation

  • Henry S. Terrell & Rodney H. Mills, 1985. "International Banking Facilities and the Eurodollar Market," Palgrave Macmillan Books, in: Paolo Savona & George Sutija (ed.), Eurodollars and International Banking, chapter 6, pages 183-220, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-07120-3_7
    DOI: 10.1007/978-1-349-07120-3_7
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    Cited by:

    1. Marvin Goodfriend, 1998. "Eurodollars," Monograph, Federal Reserve Bank of Richmond, number 1998.

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