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Which of the following statements is false about universal and commercial banks? (Philippine Context) None of the above Both may accept or create demand deposits

  1. Which of the following statements is false about universal and commercial banks? (Philippine Context)
  • None of the above
  • Both may accept or create demand deposits without need of approval.
  • Both can invest in the equities of allied, whether financial or non-financial allied enterprises.
  • Both are authorized to engage in quasi-banking functions without need for approval.

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