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Which of the following statements is(are) true concerning ADRs?
I. They are issued by large commercial banks
II. They facilitate U.S. trading in foreign securities
III. They are registered on the books of the banks that issued the ADRs.
Large commercial U.S. banks issue ADRs (American depository receipts) to facilitate U.S. trading in foreign securities. They are registered on the books of the banks that issued them.
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Which of the following statements is(are) true concerning ADRs?
I. They are issued by large commercial banks
II. They facilitate U.S. trading in foreign securities
III. They are registered on the books of the banks that issued the ADRs.
I. They are issued by large commercial banks
II. They facilitate U.S. trading in foreign securities
III. They are registered on the books of the banks that issued the ADRs.
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