Banks sometimes establish a multinational operation as a retail defensive strategy. The underlying rationale is that
a. multinational banks can avoid some regulations that apply to domestic banks.
b. by maintaining foreign branches and foreign currency balances, a bank can reduce transactions costs and foreign exchange risk.
c. multinational banking operations help a bank prevent erosion of its traveler's check, tourist and foreign business.
d. banks can use marketing and managerial knowledge developed at home to support international operations.