Services provided by deposit-taking institutions have become relatively less significant as a portion of all services provided by FIs.

Question

Quizplus · Accepted Answer

This statement is true as deposit-taking institutions (such as banks) have diversified their services to offer a wider range of financial products, such as loans, investments, insurance, and other non-depository services. Therefore, deposit-taking services have become a smaller portion of the overall services provided by FIs.

Services Provided by Deposit-Taking Institutions Have Become Relatively Less Significant