In addition to the clearing of checks through Federal Reserve Banks, the Fed accommodates check clearing through:
A. check clearinghouses it sponsors in major cities
B. its branches and a group of regional check-processing centers
C. electronic transfers of funds
D. the United Postal Service
Answer:B
In addition to the clearing of checks through Federal Reserve Banks, the Fed accommodates check clearing through:
A. check clearinghouses it sponsors in major cities B. its branches and a group of regional check-processing centers C. electronic transfers of funds D. the United Postal Service