Services provided by depository institutions have become relatively less significant as a portion of all services provided by FIs.

Question

Quizplus · Accepted Answer

This is due to the growth of non-depository institutions and the development of new technology, which has expanded the range of financial services available to consumers. Depository institutions still provide important services such as deposit accounts and lending, but their relative significance has decreased.

Services Provided by Depository Institutions Have Become Relatively Less Significant