Foreign Branch Flashcards
1
Q
What is the standard norm
A
Parent bank responsible for foreign branches liabilities
2
Q
How many exceptions are there under the act of state doctrine
A
4
3
Q
What are the 4 exceptions to the rule (I Make Disturbed Sweets)
A
Imposition of exchange controls
Moratorium
Disturbed conditions
Seizure of assets and liabilities
BY GOVERNMENT
4
Q
What does it all depend on
A
The circumstances
E.g. Russian citizen sued ny parent home office for Russian currency deposit
Don’t shut the doors