Editing Edge Act (section)

{{Short description|U.S. banking legislation}}
The '''Edge Act''' is a 1919 amendment to the United States [[Federal Reserve Act of 1913]], codified at {{UnitedStatesCode|12|611|631}}, which allows [[National bank (United States)|national bank]]s to engage in international banking through [[subsidiaries]] chartered by the [[Board of Governors of the Federal Reserve System]].  The act is named after [[Walter Evans Edge]], a U.S. Senator from [[New Jersey]] who sponsored the original legislation for these types of subsidiaries.  The impetus for the act was to give U.S. firms more flexibility to compete with foreign firms.