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7. How are T-bills traded in secondary markets? 8. What are federal funds? How are they recorded on the balance sheets of commercial banks? 9.

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7. How are T-bills traded in secondary markets? 8. What are federal funds? How are they recorded on the balance sheets of commercial banks? 9. Describe the two types of fed funds transactions. 10. What is the primary risk of trading in the fed funds markets? How did this risk come into play during the financial crisis of 2008-2009

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