The Difference Between a Schedule II and a Schedule III

question 103

Multiple Choice

The difference between a Schedule II and a Schedule III bank is that ________.

• A) a Schedule II bank is a Canadian subsidiary of a foreign bank
• B) a Schedule III bank is a foreign bank is not allowed to branch directly into Canada
• C) a foreign bank may enter the Canadian banking industry only as a Schedule III bank
• D) widely held foreign banks can own 50 percent of a Canadian bank subsidiary

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Definitions:

Hot Waters

Water that has been heated naturally or artificially, often found in geothermal springs or produced by water heating systems.

Dam

A barrier constructed to hold back water and raise its level, forming a reservoir used to generate electricity or as a water supply.

Fractured Rocks

Rocks that have been broken or cracked due to various geological processes, often creating pathways for fluid movement.

Permeable Rocks

Rocks that allow water to pass through them due to having void spaces or pores.