Which of the following are true statements?
A) Schedule I banks have more powers than Schedule II banks.
B) Widely held foreign banks can own 50 percent of a Canadian bank subsidiary.
C) A Schedule II bank may have a significant shareholder (more than 10 percent) for up to 10 years after chartering.
D) A Schedule III bank is a foreign bank is not allowed to branch directly into Canada.

Question

Quizplus · Accepted Answer

A Schedule II bank may have a significant shareholder for up to 10 years after chartering, which is true. Other statements are incorrect based on Canadian banking regulations.

Which of the Following Are True Statements