Asked by Amane gebiraye on Jun 08, 2024
Verified
_____ are large banks that borrow from and lend to governments, other banks, and corporations.
A) Retail banks
B) Commercial banks
C) Money center banks
D) Corporate banks
Money Center Banks
Large banks that borrow from and lend to governments, other banks, and corporations.
Corporations
Legal entities that are separate from their owners, with the ability to own assets, incur liabilities, and engage in business activities.
Other Banks
Financial institutions that provide a range of services including deposits, loans, and investment products, distinct from the context's primary banking entity.
- Gain an understanding of the significance and different classifications of banks within the international financial framework, such as money center banks and retail banking entities.
Verified Answer
KA
Karla AgudeloJun 10, 2024
Final Answer :
C
Explanation :
Money center banks are large financial institutions that deal primarily with governments, other banks, and large corporations, engaging in high-volume currency transactions. They do not typically have retail or branch networks for the general public.
Learning Objectives
- Gain an understanding of the significance and different classifications of banks within the international financial framework, such as money center banks and retail banking entities.