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:

Positive Language

The use of words that convey positive connotations and encourage constructive and affirmative interactions.

Mislead

To provide false or misleading information intentionally or unintentionally, causing someone to have an incorrect understanding or belief.

Grants

Financial aid provided by an entity (often a government or foundation) to an individual or organization for a specific purpose without the expectation of repayment.

Audience Oriented

Tailored or adapted to the interests, level of understanding, or preferences of the intended audience.