AFP
CTP · Question #444
(Topic 5) When considering Fedwire, ACH and CHIPS as 3 different payment systems, which of the following applies only to Fedwire?
The correct answer is C. Settlement is final when receiving bank is notified of transfer. See the full explanation below for the reasoning.
Question
- (Topic 5)
When considering Fedwire, ACH and CHIPS as 3 different payment systems, which of the following applies only to Fedwire?
Options
- AReal-time intraday net settlement of transactions.
- BCompany sends request of transfer directly to its bank.
- CSettlement is final when receiving bank is notified of transfer.
- DEach bank member funds an account maintained at the Fed.
How the community answered
(30 responses)- A10% (3)
- B7% (2)
- C80% (24)
- D3% (1)
Community Discussion
No community discussion yet for this question.