In addition to the clearing of checks through Federal Reserve Banks, the Fed accommodates check clearing through
A) check clearinghouses it sponsors in major cities.
B) its branches and a group of regional check-processing centers.
C) electronic transfers of funds.
D) the United Postal Service.

Question

Quizplus · Accepted Answer

The passage states that in addition to the clearing of checks through Federal Reserve Banks, the Fed accommodates check clearing through "its branches and a group of regional check-processing centers." Therefore, option B is the best choice. Option A mentions "check clearinghouses it sponsors in major cities," which is not explicitly mentioned in the passage. Option C mentions "electronic transfers of funds," which is not relevant to the specific topic of check clearing. Option D mentions "the United Postal Service," which is not mentioned in the passage at all.

In Addition to the Clearing of Checks Through Federal Reserve