In this survey of international banking, its similarity to and its difference from domestic practice has been surveyed, and now the special features in the organization of a foreign department will be indicated. This department is usually organized under the following divisions: (1) exchange (engaged in buying and selling foreign bills); (2) loan and discount (grants advances on foreign bills or buys them outright); (3) collection (forwards to foreign correspondents for payment all bills purchased by the bank or received from customers for collection); (4) commercial credit (opens import and export letters of credit).