Which of the following is NOT true about Canadian bank regulations?
A) The power to regulate banking was given to the federal government through Section 91 of the BNA act.
B) Banks account for over 70% of the total assets of the financial service sector.
C) If the bank has $4 billion in equity there are no ownership limitations.
D) Historically banks were classified as Schedule I and Schedule II banks.
Correct Answer:
Verified
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