Edge Act and Agreement Corporations: Mediums for International Banking
Expansion of the international activities of U.S. banks has been one of the most remarkable developments in American banking over the past 20 years.' The most "visible" sign of this expansion has been the growth of foreign assets of U.S. banks. From just over $6 billion in 1957, these assets had increased to almost $350 billion at the end of 1977. Less visible but equally remarkable has been the institutional adaptability of banks, which facilitated the expansion.