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Question
On November 20, 1985, the Bank of New York needed to use the lender of last resort function due to:A. a run on the bank started by a rumor that the president of the bank embezzled tens of millions of dollars from the bank.
B. a computer error caused the bank's records to wipe out the balances of all of its customers.
C. a rumor that the bank was about to be taken over by FDIC due to insolvency.
D. a computer error that made it impossible for the bank to keep track of its Treasury bond trades.
Answer
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