Which of the following is correct with regard to the Canadian banking system?
A) It is very similar to that in the U.S.,where there are many different banks,each with just a few branches.
B) The five largest Canadian banks account for about 50 percent of total bank assets.
C) Schedule A banks are those that are Canadian-owned and have no more than 10 percent of voting shares controlled by a single interest.
D) Because there a just a few large banks,banking is not very competitive in Canada.
E) Banks perform largely a storage function for money,and they do not generally help their customers manage their money.
Correct Answer:
Verified
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