Offshore banking You are the head of new accounts in Citybank, New York, when one afternoon Ral,

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Offshore banking You are the head of new accounts in Citybank, New York, when one afternoon Raúl, the brother of the former President of Mexico, appears in your office with your bank’s external relations officer in Mexico. Raúl happens to have a big suitcase full of money, $100 million, and wishes to deposit the money in Citybank, NY, an Edge Act bank:

a How much would Citybank stand to make annually on Raúl’s $100 million dollars?

b Would you have to report the deposit? If so, to whom?

c Apart from reporting requirements, is it worth it to Citybank to take the deposit?

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