Bank Branch and External Account setup

Oracle Product: Peoplesfot FSCM Image 22.

Related to Bank and Branch setup for AR.

We have setup a Bank Account for Bank of America as below:

1. Bank Setup as Bank ID qualifier id US Bank
2. Branch Setup Bank ID qualifier id US Bank and
3. External Bank Setup for USD and the external Bank account contains DFI and Bank account number and respective GL account(100000), Bank ID qualifier id US Bank.

Now the requirement is to create Bank of America Europe, Amsterdam NL for currency EUR where we got IBAN and acount number and GL account (100002).

Should we create new Bank, Branch along with External bank account. or just External bank account referring to EUR Details(IBAN, Account number and EUR GL) is sufficient. otherwise what can decide creation of New Bank Code, Branch setp.