When a Bank Acts as an Agent of Another Bank

question 11

Multiple Choice

When a bank acts as an agent of another bank, especially in carrying a deposit balance for the latter, then that bank will be referred to as a ________.

• A) commercial bank
• B) central bank
• C) reserve bank
• D) correspondent bank

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Definitions:

Integrity Versus Despair

A stage in Erik Erikson's theory of psychosocial development in which aged individuals reflect on their life and either achieve a sense of satisfaction or fall into despair over unaccomplished goals.

Late Adulthood

A stage in human development typically categorized by ages 65 and older, often marked by retirement and an increased focus on social relationships, health, and leisure.

Erikson

Refers to Erik Erikson, a development psychologist known for his theory on the psychosocial development of humans.

Identity Status

A psychological concept that describes an individual's progress in exploring and committing to various roles and ideologies.