Canada,like nearly all countries,has a fractional reserve banking system,meaning

Name: Canada,like nearly all countries,has a fractional reserve banking system,meaning
Brand: Quizplus
Rating: 4.9 (48 reviews)

Question

Quizplus · Accepted Answer

Canada, like most countries, has a fractional reserve banking system in which banks are required to keep only a fraction of their deposits as cash reserves, typically around 10%. The remainder can be lent out, creating new deposits and expanding the money supply. Reserve requirements can vary, but are typically set by the central bank.

Canada,like Nearly All Countries,has a Fractional Reserve Banking System,meaning