Consider the characteristics of commercial banks:
1. Commercial banks issue letters of credit to facilitate international trade.
2. They provide both secured and unsecured loans to businesses and individuals.
3. Commercial banks are restricted from offering investment banking services like securities trading
Which statements are correct about commercial banks?
1
1 and 2
2
2 and 3
3
1 and 3
4
1, 2 and 3
5
None of the above