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

$1,000,000

$3,000,000

$6,000,000

$13,000,000

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

The federal funds rate is usually lower than the risk-free T-bill rate.

Most loan transactions are for $5 million or more.

The interbank loan volume outstanding now exceeds $200 billion.

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