In a ________ banking system, commercial banks engage in securities underwriting, but legal subsidiaries conduct the different activities. Also, banking and insurance are not typically undertaken together in this system.
A. universal
B. British-style universal
C. short-fence
D. compartmentalized
Answer:B
In a ________ banking system, commercial banks engage in securities underwriting, but legal subsidiaries conduct the different activities. Also, banking and insurance are not typically undertaken together in this system.
A. universal B. British-style universal C. short-fence D. compartmentalized