QUESTION 22

Paycheck Protection loans made by Dime Community Bancshares earn interest of 1% per year for two years. Management of Dime believes that these loans are fully guaranteed by the U.S. Government.

True

False

QUESTION 24

Management of Dime Community Bancshares increased the allowance for loan losses from $28.441 million to $42.492 million between December 31^st2019 and September 30^th, 2020.

True

False

QUESTION 25Since 2007 excess reserves have increased but the money supply has remained constant.

True

False

QUESTION 26

Base your answers on the

March 03, 2020 FOMC Implementation Notehttps://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 27

Between February 5^th, 2020 and January 6^th, 2020, the total amount held in the SOMA account of the Federal Reserve increased by $2,905,514,181,800.

True

False

QUESTION 28

The unemployment rate can not be moderated by lowering the Fed Funds rate in response to the COVID-19 crisis because many businesses are being forced to shut down.

True

False