Regional bank (Ofer Abarbanel online library)

regional bank is a depository institution, i.e. a bank, savings and loan, or credit union, which is larger than a community bank, which operates below the state level, but smaller than a money center bank, which operates either nationally or internationally. A regional bank is one that operates in one region of a country, such as a state or within a group of states. The definition of what constitutes a regional bank is not precise. Continue reading “Regional bank (Ofer Abarbanel online library)”

Overseas Chinese banks (Ofer Abarbanel online library)

Overseas Chinese banks excelled in commerce, finance, and many other industries. They created many banks originally to remit money back to China but now they cater to the people of their adopted countries. These overseas Chinese banks contributed to a large extent to the development of the countries and communities in which they were located. Overseas Chinese banks normally refer to Chinese banks outside China (including Hong Kong and Macau). Continue reading “Overseas Chinese banks (Ofer Abarbanel online library)”

Offshore bank (Ofer Abarbanel online library)

An offshore bank is a bank regulated under international banking license (often called offshore license), which usually prohibits the bank from establishing any business activities in the jurisdiction of establishment. Due to less regulation and transparency, accounts with offshore banks were often used to hide undeclared income. Since the 1980s, jurisdictions that provide financial services to nonresidents on a big scale, can be referred to as offshore financial centres. Since OFCs often also levy little or no tax corporate and/or personal income and offer, they are often referred to as tax havens. Continue reading “Offshore bank (Ofer Abarbanel online library)”