Which of the Following Is NOT TRUE Concerning the Clearing

question 59

Multiple Choice

Which of the following is NOT TRUE concerning The Clearing House Internet Payment System (CHIPS) ?

• A)It has similar intra-day net payment flows as Fedwire.
• B)It does not charge explicit fees for intraday overdrafts.
• C)It is a privately operated payments network.
• D)It allows users end the day with an overdraft,but only for two consecutive days in a row.