An Association of Banks Created for the Purpose of Settling

question 37

Multiple Choice

An association of banks created for the purpose of settling accounts with each other on a daily basis is a:

• A)payor banking group.
• B)clearinghouse.
• C)provisional reserve.
• D)None of these.

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Definitions:

Strategies

Plans, methods, or series of maneuvers for obtaining a specific goal or result.

Union

An organization formed by workers in various trades or professions to protect and advance their rights and interests.

Picket Line

A boundary established by workers on strike, especially at the entrance to the place of work, meant to demonstrate grievance against the employer or to deter others from entering the site.

Negotiations

The process by which parties discuss and arrive at a mutual agreement on matters of common interest.