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.