Foreign Banking Organizations
Nowhere is the impact of the increasing globalization of financial markets more evident than in the U.S. banking industry. The numbers clearly show the importance of foreign banks, whose total assets have risen steadily from $46 billion in 1974 to nearly $1,137 billion at mid- 1999. This represents an increase from 4.88% to 18.45% in the share of assets held by foreign banking organizations.
Suggested citation: "Foreign Banking Organizations," Federal Reserve Bank of Cleveland, Economic Trends, no. 99-12, pp. 17, 12.01.1999.