Correct Answer: A bank located outside the country of the depositor, usually in a lower tax jurisdiction
Explanation:
Note: This Question is unanswered, help us to find answer for this one
Retail Banking Industry And Processes Skill Assessment
Your Skill Level: Poor
Retake Quizzes to improve it
More Retail Banking Industry And Processes MCQ Questions
What was the purpose of the 2006 Deposit Insurance Fund?
Why can't anyone start a new bank?
What is a secondary way through which banks earn money?
What does the term "Netting" mean?
What is meant by the term "Amortization"?
What would happen if Mr. X made a check out to Mr. Y for $100, who indorsed the check, and then sold it for $50 to Mr. Z? Would Mr. Z be able to cash the check?
What is the purpose of the FDIC?
When was the FDIC established?
What is meant by the term "Clearing House"?
What is an example of 'restrictive endorsement'?