Canada has a ________ banking system.
A) multi-sectoral
B) governmental
C) unitary
D) bilingual
E) branch

Question

Quizplus · Accepted Answer

Canada has a branch banking system, where banks have multiple branches across the country. This is in contrast to a unitary system, where there is only one bank that controls the entire banking industry or a multi-sectoral system where there are different types of banks (such as investment banks, commercial banks, etc.) operating within the same banking industry. While the Canadian government does regulate the banking industry, it is not considered a governmental banking system. Bilingualism is a requirement for banking services in Canada, but it does not define the banking system.

Canada Has a ________ Banking System