4. Off balance sheet activities Suppose Simone wants to open a European designer clothes store downtown. She goes to Italy to purchase a collection of clothes, but nobody knows her in Italy. Simone goes to her local bank and asks it to back up her transaction. What kind of support can Simone get from her bank? A swap contract A commercial letter of credit An agreement to exchange currencies or interest payments at an agreed-upon price at some date in the future A standby letter of credit Credit Default Swaps allow Investors to bet on mortgages not being repaid. O True False