The Difference Between a Schedule II and a Schedule III

The difference between a Schedule II and a Schedule III bank is that ________.

A) a Schedule II bank is a Canadian subsidiary of a foreign bank
B) a Schedule III bank is a foreign bank is not allowed to branch directly into Canada
C) a foreign bank may enter the Canadian banking industry only as a Schedule III bank
D) widely held foreign banks can own 50 percent of a Canadian bank subsidiary

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