The Check-Clearing Services of Correspondent Banks Are Often Used Because

question 21

Multiple Choice

The check-clearing services of correspondent banks are often used because:

• A) the respondent bank is required to purchase a minimum amount of services.
• B) it reduces required reserves.
• C) the correspondent bank may be marketing their own services in a local community.
• D) it often reduces float.
• E) it decreases interest income.

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