Subsidiary
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A subsidiary corporation is either fully or majority owned by another, usually larger corporation, which generally establishes a holding company that owns the subsidiary company's shares but also gives it some independence. Many banks and financial institutions operate as subsidiaries of larger banks and the federal Treasury keeps a list of these sudsidiaries, the name they do business under and their parent company.[1]
References
- ↑ National Bank Operating Subsidiary List. U.S. Treasury.
