Multiple Choice
Which of the following is NOT TRUE concerning The Clearinghouse Internet Payment System (CHIPS) ?
A) It has similar intra-day net payment flows as Fedwire.
B) It does not charge explicit fees for intraday overdrafts.
C) It is a privately operated payments network.
D) It allows users end the day with an overdraft, but only for two consecutive days in a row.
E) It makes available $3 billion each day to cover each day's payment transactions.
Correct Answer:
Verified
Correct Answer:
Verified
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