Which of the following statements is true?
A)Money market mutual funds were originally introduced by the Federal Reserve Bank of New York.
B)Money market mutual funds initially constituted serious competition to banks and thrifts for the deposits of savers.
C)Money market mutual funds were not originally offered by commercial banks and still are not offered by them.
D)Money market mutual funds represent a pooling of cash assets from many countries,like dollars,francs,and pesos.
E)Money market mutual funds are not able to offer their customers check-writing privileges.

Question

Quizplus · Accepted Answer

Money market mutual funds were initially seen as serious competition to banks and thrifts because they offered higher interest rates on deposits, which attracted savers away from traditional banking institutions.

Which of the Following Statements Is True