- 20 Marks
EIB – APRIL 2023 – LEVEL I – Q6 – Financial Intermediaries and Banking Systems
This question covers naming financial intermediaries, defining bonds, conditions for effective central bank functioning, functions of commercial banks, reasons for adopting universal banking, and the extent of money supply expansion in banking systems.
Question
a) Name two financial intermediaries. b) Define the term bond. c) State three conditions under which the central bank can function effectively. d) Mention the functions of the commercial banks. e) What has forced the banks to adopt universal banking? f) A banking system can expand money supply by an amount equal to what?
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