AGENT BANK

A bank which moves in accordance to the directives given by an another bank. Its objective may be discerned depending on any of the three types of banks

1. A bank belonging to a loan syndicate that gives advises to other participating banks on the changes and advances in interest rates for a domestic or foreign borrower.
2. A bank that is currently a participant in the credit program of another bank whose tasks is to issue credit cards and perform other duties (financing card receivables are not included)
3. A foreign bank operating in U.S. as a representative of its parent bank. Their main tasks are mostly issuing international letters of credit, but they do not accept deposit.

They are sometimes referred as "agency bank"

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