Denomination intermediation refers to: a. The efficiency with which depository institutions provide payment services such as cheque clearing. b. Converting foreign denominated currency into local currency. c. FIs allowing small investors to overcome constraints to buying assets imposed by large minimum denomination size.
Denomination intermediation refers to: a. The efficiency with which depository institutions provide payment services such as cheque clearing. b. Converting foreign denominated currency into local currency. c. FIs allowing small investors to overcome constraints to buying assets imposed by large minimum denomination size.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
Denomination intermediation refers to:
a.
The efficiency with which depository institutions provide payment services such as cheque clearing.
b.
Converting foreign denominated currency into local currency.
c.
FIs allowing small investors to overcome constraints to buying assets imposed by large minimum denomination size.
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