Question

(1)Three of the top 10 banks in the world (ranked by assets) are currently U.S. banks: T or F?

(2) In the United States, more than 50% of banks have less than $100 million in assets: T or F?

(3) In 1980, there were 14,404 commercial banks in the United States, but now there are 5,116 in 2020: T or F?

(4) The U.S. banking industry is highly concentrated compared with other industries in the United States or compared with the banking industry in other countries: T or F?

(5) The U.S. banking industry is one of the most heavily regulated industries in the U.S.: T or F?

(6) The importance of banks as a source of funds to non financial borrowers has shrunk dramatically in the U.S. over the past five decades or so: T or F?

(7) Currently the United States has about five banks per million people, compared with slightly more than one per million in Japan and fewer than one per million in Canada: T or F?

(8) The dual banking system was created by the National Bank Act of 1863: T or F?

(9) All national banks are required to be member banks of the Federal Reserve System: T or F?

(10) State banks are not required to become members of the Federal Reserve System, and currently only one in four state banks is a member: T or F?

Answer 1

Question: (1)

Three of the top 10 banks in the world (ranked by assets) are currently U.S. banks:

Solution:

this is a False statement as on september in worlds top 10 bank, China''s bank rank the most with higghets total assests at world level. The details are given below

1. Industrial and Commercial Bank of China (ICBC)-Largest with wealthier total assets of $ 4,322 billion

2. China Construction Bank (CCB) Corporation- Second largest and total assets is s $3,822 billion

3. Agricultural Bank of China (ABoC)-  total assests are $3,698 billion

Hence, on top most three position china mark an entry where only one bank from US. rank with the assets of JP Morgan Chases with total assets of $3,139 billion and sequre a rank at the 5th position.