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The Federal Funds Purchased and Securities sold Under Agreements to Repurchase items may appear under Liabilities for a given bank. Explain the purpose of each

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The Federal Funds Purchased and Securities sold Under Agreements to Repurchase items may appear under Liabilities for a given bank. Explain the purpose of each of these two financial instruments. Your answer should include a definition of each money market security and an explanation as to how each can be used by Citizen's bank, for example

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