The bank's deposit source of funds that is acquired on an impersonal basis from the financial market by offering competitive interest rates is categorized as:
A) demand deposits
B) core deposits
C) purchased deposits
D) time deposits

Question

Quizplus · Accepted Answer

Purchased deposits are acquired from the financial market by offering competitive interest rates, often on an impersonal basis, unlike core or demand deposits which are typically from the bank's existing customer base.

The Bank's Deposit Source of Funds That Is Acquired on an Impersonal