Which of the following statements is true?

	a.	Regulatory forbearance refers to the creation of the Office of Thrift Supervision.
	b.	After 1989 savings institutions have primarily been regulated by the Federal Deposit Insurance Corporation.
	c.	The predominant liabilities for savings associations are small time and savings deposits and Federal Home Loan Bank borrowings.
	d.	Disintermediation refers to the policy of not allowing banks to grow by creating a de novo branch outside their traditional market areas.

Which of the following statements is false?

	a.	The SIPC insures losses of funds deposited with securities firms in the event of failure of a securities firm.
	b.	Position trading refers to the trading activity involving purchases of large blocks of securities on the expectation of a favorable price move over the next several weeks or months.
	c.	SEC Rule 144A offerings are pre-registered offerings that may be sold to the public at any time within two years.
	d.	You buy euros in New York from Deutsche Banc and simultaneously sell them in London to Barclays for a gain. This is an example of pure arbitrage.

Which of the following statements is false?

	a.	A decrease in unit costs after a merger due to joint use of inputs in producing multiple products is an example of cost economies of scope.
	b.	Economies of scale imply that the average cost curve is upward sloping with respect to bank size.
	c.	A decline in the average cost of producing bank services as the size of the bank expands is called cost economies of scale.
	d.	Revenue or cost reduction resulting in gains from mergers that are not due to scale or scope economies are called X efficiencies.