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CRCM Exam - Question 177


Transfers involving entries to accounts maintained at two different Reserve Banks are:

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Correct Answer: B

Transfers involving entries to accounts maintained at two different Reserve Banks are specifically known as Interdistrict transfers. This term accurately describes transactions that cross the boundaries of different Federal Reserve Districts.

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Cam22Option: B
Mar 16, 2024

The correct answer is B. Interdistrict transfers. These are transfers that involve entries to accounts maintained at two different Reserve Banks, typically indicating that the sender and receiver are located in different Federal Reserve Districts. Fedwire can facilitate these transfers, but the specific term "Interdistrict transfers" accurately describes the nature of the transaction across different Reserve Banks' territories.