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What is the main characteristic of a bank according to the given text?
What is the main characteristic of a bank according to the given text?
- Engaging in the borrowing of funds through deposits
- Lending money obtained from deposits (correct)
- Issuing debt instruments for relending
- Lending money obtained from its own pocket
How does a quasi-bank differ from a bank based on the text?
How does a quasi-bank differ from a bank based on the text?
- Banks issue debt instruments for purchasing receivables
- Quasi-banks lend money obtained from deposits
- Banks endorse debt instruments for relending
- Quasi-banks engage in the relending of deposit substitutes (correct)
What is the definition of deposit substitutes according to the given text?
What is the definition of deposit substitutes according to the given text?
- Forms of obtaining funds through direct deposits
- Borrowing from 20 or more lenders at any one time
- Issuing debt instruments for the borrower's own account (correct)
- Lending money obtained from deposits
What does the phrase 'obtaining funds from the public' mean according to the text?
What does the phrase 'obtaining funds from the public' mean according to the text?
What type of entities engage in the issuance, endorsement, or acceptance of deposit substitutes?
What type of entities engage in the issuance, endorsement, or acceptance of deposit substitutes?
What is the purpose of quasi-banks issuing debt instruments according to the given text?
What is the purpose of quasi-banks issuing debt instruments according to the given text?
What is the act or process of guaranteeing the distribution and sale of securities of any kind issued by another corporation?
What is the act or process of guaranteeing the distribution and sale of securities of any kind issued by another corporation?
Which type of bank has the authority to exercise the powers of an investment house as provided in existing laws?
Which type of bank has the authority to exercise the powers of an investment house as provided in existing laws?
What is the purpose of a thrift bank as governed by Republic Act No. 7906?
What is the purpose of a thrift bank as governed by Republic Act No. 7906?
Which entity is authorized by the Bangko Sentral to perform universal or commercial banking functions and also has the authority to engage in quasi-banking functions?
Which entity is authorized by the Bangko Sentral to perform universal or commercial banking functions and also has the authority to engage in quasi-banking functions?
What does 'securities' refer to in the context of investment companies and underwriting?
What does 'securities' refer to in the context of investment companies and underwriting?
Which type of bank is established for the purpose of providing adequate credit facilities to farmers and merchants?
Which type of bank is established for the purpose of providing adequate credit facilities to farmers and merchants?
According to the text, what are the general powers incident to commercial banks?
According to the text, what are the general powers incident to commercial banks?
What is the minimum number of persons from whom funds are obtained for an entity to be considered a bank or quasi-bank?
What is the minimum number of persons from whom funds are obtained for an entity to be considered a bank or quasi-bank?
Which Act governs rural banks?
Which Act governs rural banks?
Which type of bank has the authority to invest in non-allied enterprises as provided in this Act?
Which type of bank has the authority to invest in non-allied enterprises as provided in this Act?
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