Sweep accounts which were created to avoid reserve requirements became possible because of a change in
A)deposit ceilings.
B)technology.
C)government rules.
D)bank mergers.

Question

Quizplus · Accepted Answer

Sweep accounts were made possible due to advancements in technology that allowed for automatic transfers and management of funds, specifically the ability to "sweep" excess funds from one account into another to avoid reserve requirements. Deposit ceilings, government rules, and bank mergers may have played a role in the banking industry, but they were not directly related to the creation of sweep accounts.

Sweep Accounts Which Were Created to Avoid Reserve Requirements Became