Q364
Non-competitive bids of securities are submitted through
A.
federal savings bank
B.
state savings banks
C.
Federal Reserve banks
AnswerD.
state reserve banks
Answer: Option C
Solution
Answer: Option C
Solution:
Non-competitive bids of securities are submitted through Federal Reserve banks. The Federal Reserve System is the central bank of the United States and arguably the most powerful financial institution in the world. The Federal Reserve System was founded by the U.S. Congress in 1913 to provide the nation with a safe, flexible, and stable monetary and financial system.