Question

14. The National Association of banks technically means

A) cancellation of transaction B) government direct control C) classification of banks D) given to private control​

Answer 1

Answer:

The correct option is B) government direct control.

Explanation:

• A national banking association represents an organization that is incorporated under federal law as a bank.
• A national banking association denotes a bank, savings bank, bank and trust company, or bank exclusively exerting trust powers classified under the regulations of the United States.

• A bank in a system of federally chartered commercial banks in the United States, headed by the Office of the Comptroller of the Currency, a department of the US Treasury.
• A bank regulated by or associated with a national government, particularly a central bank.
• The National Association of banks technically signifies that its control of its is by the government. all are done there under the control of the government.

Hence, The National Association of banks technically signifies

B) government direct control.