Which of the following is considered a depository institution?
I. the U.S. Treasury
II. a commercial bank like Citibank
III. a credit union for federal government employees
A) II and III
B) I only
C) I and II
D) I, II and III

Question

Quizplus · Accepted Answer

Depository institutions are financial institutions that accept deposits from the public and use them to make loans. Commercial banks and credit unions both fall under this category, while the U.S. Treasury does not accept deposits and is not considered a depository institution. Therefore, option A, which includes only the commercial bank and credit union, is the correct answer.

Which of the Following Is Considered a Depository Institution