Longer-term federal funds contracts lasting several days,weeks,or months,often accompanied by a written contract,are known as:
A)term loans.
B)continuing contracts.
C)rollover loans.
D)federal funds mutuality agreements.
E)None of the options is correct.

Question

Quizplus · Accepted Answer

Longer-term federal funds contracts lasting several days, weeks, or months are referred to as term loans. These loans are often accompanied by a written contract that outlines the terms and conditions of the agreement, including the interest rate, loan duration, and repayment schedule. The term loan can be a fixed-rate or a variable-rate loan, and it is often secured by collateral. The borrower can use the funds to finance various business projects, such as expansion, inventory purchase, or debt consolidation.

Longer-Term Federal Funds Contracts Lasting Several Days,weeks,or Months,often Accompanied by a Written