Question: Denomination intermediation refers to: a. The efficiency with which depository institutions provide payment services such as cheque clearing. b. Converting foreign-denominated currency into local currency.

Denomination intermediation refers to:

a.

The efficiency with which depository institutions provide payment services such as cheque clearing.


b.

Converting foreign-denominated currency into local currency.


c.

FIs allowing small investors to overcome constraints to buying assets imposed by large minimum denomination size.

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