The Prime Business Rate Refers to

question 39

Multiple Choice

The prime business rate refers to

• A) the interest rate that commercial banks charge to their least risky business borrowers.
• B) the market interest rate that financial institutions charge each other for overnight loans.
• C) a term used to describe the range of possible overnight interest rates.
• D) the interest rate that the Bank of Canada charges commercial banks for overnight loans.
• E) accounts held at the Bank of Canada by financial institutions for the purpose of settling their net payment obligations to one another.

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Definitions:

Obliterated

Completely destroyed or removed, leaving no trace.

Groove

A long, narrow cut or depression in a hard surface, often designed to guide movement or to hold something in place.

Motor Vehicle Accident

An incident involving a collision between vehicles or between a vehicle and a stationary object, potentially causing injury or damage.

Temperature Route

Temperature route refers to the method by which body temperature is measured, such as orally, rectally, axillary, or tympanically.