If banks temporarily don't have sufficient funds to pay their depositors,they can borrow the needed funds at the Bank of Canada.
Correct Answer:
Verified
Q309: Legally,the Bank of Canada is separate from
Q310: Banks are financial intermediaries that use deposits
Q315: Bank runs today are not as frequent
Q319: Today Canadian dollars are redeemable for gold
Q323: A bank's capital is the sum of
Q326: Bank reserves are the sum of M1
Q328: If a bank has $2,000 in excess
Q329: Banks' assets tend to be less liquid
Q339: If a bank has excess reserves of
Q340: If a bank has deposits of $10,000
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents