326 $
© 2014 Pearson Canada Inc.$- Describe the characteristics of cooperative banks: credit unions and caisses populaires.
Answer:
- They are small lending institutions.
- They are organized by a particular group of individuals with a common bond.
- Stress the provision of credit to the "little man."
- There are two cooperative financial systems in Canada: the caisses populaires in Quebec and
the credit unions in the rest of the country. - They carry retail financial services.
- Typically they are quite small.
- They are non-profit-seeking financial institutions.
- They accept deposits and lend money only to members.
- Members have voting rights.
- Not directly covered by CDIC but indirectly through provincial stabilization funds
Diff: 2 Type: SA Page Ref: 259 - 260
Skill: Recall
Objective List: 11.6 Understanding Near Bank Regulation and Structure
11.7 International Banking
The spectacular growth in international banking can be explained by ____.
A) the rapid growth in international trade
B) the 1988 Basel Agreement
C) the desire for U.S. banks to escape burdensome domestic regulations
D) the creation of the World Trade Organization
Answer: A
Diff: 1 Type: MC Page Ref: 260
Skill: Recall
Objective List: 11.7 Examine International Banking
What country is given credit for the birth of the Eurodollar market?
A) The United States
B) England
C) The Soviet Union
D) Japan
Answer: C
Diff: 1 Type: MC Page Ref: 261
Skill: Recall
Objective List: 11.7 Examine International Banking