The Federal Reserve has a keen interest in the readiness of the international community and the special problems facing foreign banks operating branches and agencies in the United States. The Federal Reserve has been involved in active dialogue with bankers and supervisors that have banks in the United States from around the world.
Since independence, the wholesale price inflation, on an average basis, was above 15 per cent in five out of fifty years. In thirty six years, out of fifty, inflation was in single digit and on most occasions high inflation was due to external and domestic shocks such as sharp rise in fuel and food prices.