QUESTION 2

The Federal Reserve has taken actions in reaction the COVID-19 health/economic crisis to support the flow of credit to households and businesses.

True

False

QUESTION 4

Base your answers on the March 03, 2020 FOMC Implementation Note

https://www.federalreserve.gov/newsevents/pressreleases/monetary20200303a1.htm

The FOMC directed the trading desk at the Federal Reserve Bank of New York to conduct open market purchases of U.S. Treasury bills in order to maintain "ample banking reserves at levels at or above what they were at the beginning of September 2019.

True

False

QUESTION 9

On March 27th of 2020 the Federal Reserve Bank of New York began to purchase commercial mortgage-backed securities in an effort to keep capital flowing to the commercial real estate market.

True

False

QUESTION 12

Due to COVID the balance of commercial and industrial loans on the balance sheet of Dime Community Bancshares declined between December 31st 2019 and September 30th, 2020. This is because the bank stopped making loans and existing loans defaulted.

True

False

QUESTION 26

Base your answers on the March 03, 2020 FOMC Implementation Note

https://www.federalreserve.gov/newsevents/pressreleases/monetary20200303a1.htm

The Board of Governors of the Federal Reserve voted unanimously to lower the primary discount rate by 50 basis points. The primary rate is a rate that is charged to banks that borrow from the Federal Reserve.

True

False

QUESTION 24

1. Management of Dime Community Bancshares increased the allowance for loan losses from $28.441 million to $42.492 million between December 31st 2019 and September 30th, 2020.

True

False