16-74 Which of the following statements is NOT true?
A)The Federal Reserve operates the Fedwire electronic payments system while CHIPS is a private network.
B)Fedwire is used to transfer funds from the Fed to the banking system while CHIPS is used to make interbank funds transfers.
C)The Fed guarantees all payments on Fedwire while CHIPS transfers are provisional until settlement.
D)Large daylight overdrafts are incurred on both Fedwire and CHIPS.
E)Neither Fedwire nor CHIPS charges interest or fees for daylight overdrafts.

Question

Quizplus · Accepted Answer

The Answer of 16-74 Which of the following statements is NOT true?
A)The Federal Reserve operates the Fedwire electronic payments system while CHIPS is a private network.
B)Fedwire is used to transfer funds from the Fed to the banking system while CHIPS is used to make interbank funds transfers.
C)The Fed guarantees all payments on Fedwire while CHIPS transfers are provisional until settlement.
D)Large daylight overdrafts are incurred on both Fedwire and CHIPS.
E)Neither Fedwire nor CHIPS charges interest or fees for daylight overdrafts.

16-74 Which of the Following Statements Is NOT True