Suppose Bank of America (BAC) wants to open two subsidies In the US in order to...

Suppose Bank of America (BAC) wants to open two subsidies In the US in order to 1) serve foreign residents living in the US and 2) conduct Int'l banking operations.

Describe how BAC would structure these two new business. In other words, what kind of rules would they have to comply with and/or what kind of facilities would BAC have to set-up?

Be specific.

Solutions

Expert Solution

1. US has complex regulatory framework that features the myriad of federal regulatory agencies having overlapping responsibility for banking regulation.

US banking regulators have frequently implemented a stringent rules that are part of post financial crisis.

Senior management and board of directors are responsible for the safeguarding of banking operations by ensuring it's safety.

Bank is also subject to make sure that it has complied with liquidity requirements as per law.

Banking regulation in US is so complex as it involves regulations and supervisory guidance implementing the Dodd-Frank Act and other reforms revised by trump administration to reduce regulatory burden on industry.

ekkarill92 answered 1 year ago

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