Certified Regulatory Compliance Manager (CRCM) — Question 153

Any of the following foreign correspondents for which the Federal Reserve maintains an account EXCEPT:

Answer options

• A. A foreign bank
• B. A foreign banker's Lessee
• C. A foreign state
• D. A foreign correspondent or agency

Correct answer: B

Explanation

The correct answer is B, as a foreign banker's Lessee does not qualify as a correspondent for the Federal Reserve. In contrast, foreign banks, states, and agencies are eligible to have accounts with the Federal Reserve.