Money market instruments: Federal funds

Which of the following are typical federal fund loan denominations? Check all that apply.

$$600,000$

$$1,000,000$

$$10,000,000$

$$15,000,000$

Which of the following are properties of federal funds? Check all that apply.

Most loan transactions have a maturity of $1$ to $7$ days.

The interbank loan volume outstanding is less than $$100$ billion.

Most loan transactions are for $$5$ million or more.

The federal funds market enables depository institutions to lend or borrow short$-$term funds from each other at the federal funds rate.