While the Treasury collects most of its receipts through commercial banks,its expenditures (checks)are drawn upon
A) the Federal Reserve Board of Governors.
B) national banks.
C) Federal Reserve banks.
D) federal financing banks.
E) None of the above.

Question

Quizplus · Accepted Answer

The Treasury draws its expenditures (checks) upon Federal Reserve banks, which hold the Treasury's account and process its payments on an electronic basis.

While the Treasury Collects Most of Its Receipts Through Commercial