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Which of the following statements is the most representative example of the credit transformation function of a financial intermediary?
Select one:
a.
A saver can withdraw their funds immediately without borrowers having to repay their loans early
b.
The creation of a secondary market offers maturity that encourages market participants to purchase securities in the primary market
c.
The collection of many small deposits from many savers together into a liquid pool that can be loaned out in large amounts to a firm
d.
The credit risk exposure of the saver is limited to the financial intermediary default risk not to the borrower of the financial intermediary
e.
A saver can invest for shorter time horizon while a borrower can borrow for 30 years
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