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The term 'Big Four' is a formal designation used by regulatory bodies to identify the four largest banks in a country.
Answer: False
Explanation: The source states that 'Big Four' is a common, informal name, not a formal regulatory designation.
The European Central Bank, established in 1998, is one of the internationally recognized 'Big Four' central banks.
Answer: True
Explanation: The European Central Bank, established in 1998, is indeed listed as one of the internationally recognized 'Big Four' central banks.
The Federal Reserve, the central banking system of the United States, was founded in 1882.
Answer: False
Explanation: The Federal Reserve was established in 1913, not 1882.
The Bank of England was established in the same century as the Federal Reserve.
Answer: False
Explanation: The Bank of England was established in 1694 (17th century), while the Federal Reserve was established in 1913 (20th century), meaning they were founded in different centuries.
What is the general definition of the term 'Big Four' in the banking industry?
Answer: An informal name for four primary banks dominating a country's sector.
Explanation: The 'Big Four' is an informal name given to the four primary banks that largely control a country's banking sector, highlighting their significant influence.
When was the Bank of England, one of the international 'Big Four' central banks, established?
Answer: 1694
Explanation: The Bank of England was established in 1694.
Which year marks the inception of the Federal Reserve in the United States?
Answer: 1913
Explanation: The Federal Reserve was established in the United States in 1913.
Canada's banking sector is dominated by five banks, collectively known as the 'Big Five'.
Answer: False
Explanation: Canada's banking sector is dominated by six banks, with five of them commonly known as the 'Big Five'.
In Mexico, all of the 'Big Four' banks identified by S&P Global in 2024 are privately owned by Mexican entities.
Answer: False
Explanation: In Mexico, only Banorte among the 'Big Four' is explicitly stated to be Mexican-owned; the others are foreign-owned.
As of 2023, the 'big four' banks in the United States have combined assets exceeding $9.2 trillion.
Answer: True
Explanation: As of 2023, the 'big four' banks in the United States indeed had combined assets exceeding $9.2 trillion.
Citigroup's retail banking arm, Citibank, has significantly more branches than U.S. Bank and PNC Bank due to its larger total assets.
Answer: False
Explanation: U.S. Bank and PNC Bank both have significantly more retail branches than Citibank, despite Citigroup maintaining substantially greater total assets.
How many banks dominate the Canadian banking sector?
Answer: Six
Explanation: Six banks dominate the Canadian banking sector, with five of them commonly known as the 'Big Five'.
In Mexico, which of the 'Big Four' banks identified by S&P Global in 2024 is explicitly stated to be Mexican-owned?
Answer: Banorte
Explanation: Banorte is explicitly stated to be Mexican-owned among Mexico's 'Big Four' banks identified by S&P Global in 2024.
As of 2023, what were the combined assets of the 'big four' banks in the United States?
Answer: Exceeding $9.2 trillion
Explanation: As of 2023, the combined assets of the 'big four' banks in the United States exceeded $9.2 trillion.
In France, BNP Paribas and Crédit Agricole were identified by S&P Global in 2024 as having assets exceeding 2,400 EUR billion each.
Answer: True
Explanation: According to S&P Global in 2024, BNP Paribas had 2,594.14 EUR billion in assets and Crédit Agricole had 2,476.43 EUR billion, both exceeding 2,400 EUR billion.
The 'big four' banks in Ireland by market capitalisation include Ulster Bank, which completed its withdrawal from the Republic of Ireland market in 2023.
Answer: True
Explanation: Ulster Bank is listed among Ireland's 'big four' by market capitalisation, and it did withdraw from the Republic of Ireland market in 2023.
The 'big four' full-service banks in Luxembourg are distinguished by offering a limited number of services like investment or private banking.
Answer: False
Explanation: The 'big four' full-service banks in Luxembourg are distinguished by offering a full range of services, unlike other larger banks that typically offer a limited number of specialized services.
ING Group, one of the Netherlands' 'big four' banks, operates exclusively within the European Union.
Answer: False
Explanation: ING Group is a multinational banking and financial service corporation with products and services available in over 41 countries globally, not exclusively within the European Union.
According to PricewaterhouseCoopers, the top three largest banks in North Macedonia collectively dominate 80% of the banking market share.
Answer: False
Explanation: The top three largest banks in North Macedonia collectively dominate 60% of the banking market share, not 80%.
Banca Transilvania is notable among Romania's 'big four' as the biggest bank owned by private investors with domestic capital.
Answer: True
Explanation: Banca Transilvania is indeed identified as the biggest bank owned by private investors with domestic capital among Romania's 'big four'.
In 2021, Turkey's top three largest state-owned banks held a smaller market share than the top four largest privately-owned banks combined.
Answer: False
Explanation: In 2021, Turkey's top three state-owned banks held over 37.1% market share, while the top four privately-owned banks dominated 22.9%, indicating the state-owned banks held a larger share.
In the UK, the term 'big four' for retail banking groups in England and Wales refers to HSBC UK, Barclays UK, Lloyds Bank, and NatWest Group.
Answer: True
Explanation: The listed banks are precisely the 'big four' High Street retail banking groups in England and Wales and the UK as a whole.
The transition from the 'big five' to the 'big four' in UK banking occurred in 1970 due to the merger of Barclays and Midland Bank.
Answer: False
Explanation: The transition from 'big five' to 'big four' in UK banking occurred in 1970 due to the merger of Westminster Bank, National Provincial Bank, and District Bank to form National Westminster Bank, not a merger of Barclays and Midland Bank.
The 'Big Four' banks of Austria include UniCredit Bank Austria and Raiffeisen Bankengruppe, both operating under common brands for separate legal entities.
Answer: True
Explanation: UniCredit Bank Austria and Raiffeisen Bankengruppe are indeed part of Austria's 'Big Four', and Raiffeisen Bankengruppe operates as separate legal entities under a common brand.
The 'Big Four' banks in Germany are Deutsche Bank, Commerzbank, KfW, and DZ Bank.
Answer: True
Explanation: The 'Big Four' banks in Germany are correctly identified as Deutsche Bank, DZ Bank, KfW, and Commerzbank.
Which of the following is one of the 'Big Four' banks of Austria?
Answer: Raiffeisen Bankengruppe
Explanation: Raiffeisen Bankengruppe is listed as one of the 'Big Four' banks of Austria.
The 'big four' banks of Belgium were formed due to mergers in which decade?
Answer: 1990s
Explanation: The 'big four' banks of Belgium resulted from national and international mergers that occurred in the early 1990s.
Which of the following is one of the 'big three' banks in the Czech Republic and a subsidiary of Erste Group?
Answer: Česká spořitelna
Explanation: Česká spořitelna is one of the 'big three' banks in the Czech Republic and is a subsidiary of Erste Group.
Which of these banks is listed as one of the four major banks in Estonia?
Answer: LHV Pank
Explanation: LHV Pank is explicitly listed as one of the four major banks in Estonia.
According to S&P Global in 2024, which French banking group had the highest approximate assets?
Answer: BNP Paribas
Explanation: BNP Paribas had the highest approximate assets (2,594.14 EUR billion) among the French banking groups listed by S&P Global in 2024.
Which of the following is NOT one of the 'Big Four' banks in Germany?
Answer: UniCredit Bank Austria
Explanation: UniCredit Bank Austria is one of the 'Big Four' banks in Austria, not Germany.
Which of the following is one of the 'Big Four' banks in Greece?
Answer: Alpha Bank
Explanation: Alpha Bank is listed as one of the 'Big Four' banks in Greece.
Which of the 'big four' banks in Ireland withdrew from the Republic of Ireland market in 2023?
Answer: Ulster Bank
Explanation: Ulster Bank completed its withdrawal from the Republic of Ireland market in 2023.
According to a 2019 consumer survey, which of these was one of the 'big four' retail banks in Latvia?
Answer: SEB
Explanation: SEB was identified as one of the 'big four' retail banks in Latvia according to a 2019 consumer survey.
Which of the following is one of the 'big four' full-service banks in Luxembourg?
Answer: Banque Internationale à Luxembourg
Explanation: Banque Internationale à Luxembourg is listed as one of the 'big four' full-service banks in Luxembourg.
Which of the Netherlands' 'big four' banks is notable as one of the world's largest multinational banking and financial service corporations?
Answer: ING Group
Explanation: ING Group is notable as one of the world's largest multinational banking and financial service corporations, operating in over 41 countries.
According to PricewaterhouseCoopers, which of these banks is one of the three largest in North Macedonia?
Answer: Komercijalna banka Skopje
Explanation: Komercijalna banka Skopje is listed as one of the three largest banks in North Macedonia by PricewaterhouseCoopers.
Which Romanian bank is the biggest bank owned by private investors with domestic capital among the 'big four'?
Answer: Banca Transilvania
Explanation: Banca Transilvania is identified as the biggest bank owned by private investors with domestic capital among Romania's 'big four' banks.
Which of the following is considered one of the largest banks by operations and assets in Russia?
Answer: Alfa-Bank
Explanation: Alfa-Bank is listed among the largest banks by operations and assets in Russia.
As of September 2021, which of the following was NOT considered one of the 'big four' banks in Spain?
Answer: UniCredit
Explanation: UniCredit is not listed as one of the 'big four' banks in Spain as of September 2021.
Which of the following is one of the 'big four' banks in Sweden?
Answer: Svenska Handelsbanken
Explanation: Svenska Handelsbanken is listed as one of the 'big four' banks in Sweden.
Which of the following is one of the 'Big Four' banks in Switzerland?
Answer: Raiffeisen Bank
Explanation: Raiffeisen Bank is listed as one of the 'Big Four' banks in Switzerland.
In 2021, what market share did Turkey's top three largest state-owned banks hold?
Answer: Over 37.1%
Explanation: In 2021, Turkey's top three largest state-owned banks held over 37.1% of the market share.
Which of these banking groups is part of the 'big four' High Street retail banking groups in England and Wales?
Answer: Lloyds Bank
Explanation: Lloyds Bank is identified as one of the 'big four' High Street retail banking groups in England and Wales.
As of 2020, the top three largest banks in Cambodia collectively dominated over 50% of the overall banking assets.
Answer: False
Explanation: As of 2020, the top three largest banks in Cambodia collectively dominated 39.1% of the overall banking assets, not over 50%.
The Industrial and Commercial Bank of China (ICBC) was established in 1984, making it one of the PRC's 'Big Four' banks.
Answer: True
Explanation: The Industrial and Commercial Bank of China (ICBC) was established in 1984 and is indeed one of the 'Big Four' banks in the People's Republic of China.
Historically, the 'Big Four' in China during the 1920s referred to the Bank of China, Bank of Communications, Central Bank of China, and Farmers Bank of China.
Answer: False
Explanation: Historically, the 'Big Four' in China during the 1920s referred to the Four Northern Banks: Yien Yieh Commercial Bank, Kincheng Banking Corporation, Continental Bank, and The China & South Sea Bank. The listed banks were the 'Big Four' state-owned banks by 1949.
All four major banks in Hong Kong are authorized to issue banknotes in the region.
Answer: False
Explanation: Only three of the four major banks in Hong Kong (HSBC Hong Kong, Standard Chartered Bank (Hong Kong), and Bank of China (Hong Kong)) are authorized to issue banknotes.
HDFC Bank, ICICI Bank, Kotak Mahindra Bank, and Axis Bank are considered the 'Big Four' public sector banks in India.
Answer: False
Explanation: HDFC Bank, ICICI Bank, Kotak Mahindra Bank, and Axis Bank are considered the 'Big Four' private sector banks in India, not public sector banks.
In Indonesia, Bank Central Asia (BCA) is a state-owned enterprise controlled by the central government.
Answer: False
Explanation: In Indonesia, Bank Rakyat Indonesia (BRI), Bank Mandiri, and Bank Negara Indonesia (BNI) are state-owned enterprises, but Bank Central Asia (BCA) is not explicitly identified as such in the source.
Japan uses the term 'big four' to describe its dominant financial groups, similar to many other countries.
Answer: False
Explanation: In Japan, the term 'big three' is used instead of 'big four' for its dominant financial groups.
Lebanon has maintained banking secrecy laws since 1956 and has not adopted international measures against money laundering.
Answer: False
Explanation: While Lebanon has maintained banking secrecy laws since 1956, it has also adopted international measures against money laundering.
According to the Central Bank of Malaysia, Maybank is the largest Malaysian bank by asset size.
Answer: True
Explanation: The Central Bank of Malaysia identifies Maybank as the largest Malaysian bank by asset size among the top five.
In the Philippines, Banco de Oro, Land Bank of the Philippines, Bank of the Philippine Islands, and Metrobank are explicitly referred to as the 'Big Four' by the source.
Answer: False
Explanation: While these are the four largest banks in the Philippines, the source explicitly states that the term 'Big Four' is not used for them.
In Saudi Arabia, the 'Big Five' banks include Saudi National Bank, Al Rajhi Bank, Riyad Bank, Saudi Awwal Bank, and Banque Saudi Fransi.
Answer: True
Explanation: The listed banks are precisely the 'Big Five' banks identified in Saudi Arabia.
DBS Bank, OCBC Bank, and United Overseas Bank are identified as Singapore's 'Big Three' banks, with DBS Bank having the largest assets among them in 2024.
Answer: True
Explanation: DBS Bank, OCBC Bank, and United Overseas Bank are Singapore's 'Big Three' banks, and DBS Bank had the largest assets among them in 2024.
Taiwan has five 'systemic banks' that play a crucial role in its financial stability.
Answer: False
Explanation: Taiwan has seven 'systemic banks', not five.
Before the Siamese Revolution of 1932, the banking system in Thailand was controlled by four major American banks.
Answer: False
Explanation: Before the Siamese Revolution of 1932, the banking system in Thailand was controlled by four major European banks, not American banks.
The 'big five' banks in the United Arab Emirates, based on total assets at the end of 2017, include First Abu Dhabi Bank and Emirates NBD.
Answer: True
Explanation: First Abu Dhabi Bank and Emirates NBD are indeed listed among the 'big five' banks in the United Arab Emirates based on total assets at the end of 2017.
In Vietnam, the 'big four' banking groups held 50% of all bank deposits nationwide as of early 2024.
Answer: True
Explanation: As of early 2024, Vietnam's 'big four' banking groups held public deposits accounting for 50% of all bank deposits nationwide.
As of 2020, what percentage of Cambodia's overall banking assets did the top three largest banks dominate?
Answer: 39.1%
Explanation: As of 2020, the top three largest banks in Cambodia dominated 39.1% of the overall banking assets.
Which of the 'Big Four' banks in the People's Republic of China was established in 1912?
Answer: Bank of China (BOC)
Explanation: The Bank of China (BOC) was established in 1912, making it one of the PRC's 'Big Four' banks.
Historically, which group of banks was referred to as the 'Big Four' in China during the 1920s?
Answer: The Yien Yieh Commercial Bank, Kincheng Banking Corporation, Continental Bank, and The China & South Sea Bank.
Explanation: During the 1920s, the 'Big Four' in China referred to the Four Northern Banks: Yien Yieh Commercial Bank, Kincheng Banking Corporation, Continental Bank, and The China & South Sea Bank.
Which of the following is a note-issuing bank in Hong Kong?
Answer: HSBC Hong Kong
Explanation: HSBC Hong Kong is one of the three authorized note-issuing banks in Hong Kong.
According to the Global Retail Banking Cross-sell in 2015, which was one of the top three most popular banks in Hong Kong?
Answer: Bank of China (Hong Kong)
Explanation: Bank of China (Hong Kong) was identified as one of the top three most popular banks in Hong Kong in 2015.
Which of these is considered one of the 'Big Four' private sector banks in India by total market capitalization?
Answer: HDFC Bank
Explanation: HDFC Bank is listed as one of the 'Big Four' private sector banks in India by total market capitalization.
Which of the following banks in Indonesia is explicitly identified as a state-owned enterprise among the four largest by total assets as of 2018?
Answer: Bank Mandiri
Explanation: Bank Mandiri is explicitly identified as a state-owned enterprise among Indonesia's four largest banks by total assets as of 2018.
What term is used in Japan instead of 'big four' for its dominant financial groups?
Answer: Big Three
Explanation: In Japan, the term 'big three' is used to describe its dominant financial groups.
According to the Central Bank of Malaysia, which bank is the largest Malaysian bank by asset size?
Answer: Maybank
Explanation: The Central Bank of Malaysia identifies Maybank as the largest Malaysian bank by asset size.
According to Asia Times, which of the following is one of the four largest banks in Myanmar?
Answer: Yoma Bank
Explanation: Yoma Bank is listed by Asia Times as one of the four largest banks in Myanmar.
Which of the following is one of the 'top six' banks in Pakistan?
Answer: HBL
Explanation: HBL is listed as one of the 'top six' banks in Pakistan.
As of December 2024, which of these is one of the four largest banks in the Philippines by total assets?
Answer: Land Bank of the Philippines
Explanation: Land Bank of the Philippines is listed as one of the four largest banks in the Philippines by total assets as of December 2024.
In Saudi Arabia, which of these banks is part of the 'Big Five'?
Answer: Saudi National Bank
Explanation: Saudi National Bank is listed as one of the 'Big Five' banks in Saudi Arabia.
According to S&P Global in 2024, which bank had the largest assets among Singapore's 'Big Three'?
Answer: DBS Bank
Explanation: DBS Bank had the largest assets (461.0 USD billion) among Singapore's 'Big Three' banks in 2024.
Which of these is identified as a leading privately-owned bank in Sri Lanka as of 2020?
Answer: Commercial Bank of Ceylon PLC
Explanation: Commercial Bank of Ceylon PLC is identified as a leading privately-owned bank in Sri Lanka as of 2020.
How many 'systemic banks' are there in Taiwan?
Answer: Seven
Explanation: Taiwan has seven 'systemic banks'.
Which of the following is one of the 'Big Six' banks in Thailand?
Answer: Siam Commercial Bank (SCB)
Explanation: Siam Commercial Bank (SCB) is listed as one of the 'Big Six' banks in Thailand.
Which of the following is one of the 'big five' banks in the United Arab Emirates based on total assets at the end of 2017?
Answer: Emirates NBD
Explanation: Emirates NBD is listed as one of the 'big five' banks in the United Arab Emirates based on total assets at the end of 2017.
Australia's 'four pillars policy' encourages mergers among the four largest banks to strengthen the national banking sector.
Answer: False
Explanation: The 'four pillars policy' in Australia is designed to prevent mergers among the four largest banks, not encourage them.
In Brazil, S&P Global identified the 'Big Five' banks in 2024, which are also recognized as the five largest banks in South America.
Answer: True
Explanation: S&P Global identified Brazil's 'Big Five' banks in 2024, and these are indeed recognized as the five largest banks in Latin America.
In New Zealand, the 'Big Four' Australian bank subsidiaries collectively hold less than 50% of all mortgages.
Answer: False
Explanation: The 'Big Four' Australian bank subsidiaries in New Zealand collectively hold nearly 90% of all mortgages, not less than 50%.
Nigeria uses the term 'Big Five' to refer to its dominant banks, which had a combined balance sheet of $821 billion USD in 2011.
Answer: True
Explanation: Nigeria uses the term 'Big Five' for its dominant banks, and their combined balance sheet in 2011 was indeed 12.9 trillion naira, equivalent to $821 billion USD.
Absa Group Limited in South Africa was majority owned by Barclays between 2005 and early 2018.
Answer: True
Explanation: Absa Group Limited is noted to have been majority owned by Barclays between 2005 and early 2018.
What is the primary purpose of Australia's 'four pillars policy'?
Answer: To prevent mergers among the four largest banks.
Explanation: Australia's 'four pillars policy' is a long-standing federal government policy aimed at maintaining the status quo by preventing mergers among the four largest banks.
Which of the following is one of the four largest banks in Kenya?
Answer: KCB Bank Kenya Limited
Explanation: KCB Bank Kenya Limited is listed as one of the four largest banks in Kenya.
In New Zealand, what percentage of all mortgages are held by the 'big four' Australian bank subsidiaries?
Answer: Nearly 90%
Explanation: The 'big four' Australian bank subsidiaries in New Zealand collectively hold nearly 90% of all mortgages.
In 2011, what was the combined balance sheet of Nigeria's 'Big Five' banks, including contingents, in naira?
Answer: 12.9 trillion naira
Explanation: In 2011, Nigeria's 'Big Five' banks had a combined balance sheet, including contingents, of 12.9 trillion naira.
Which of these is one of the 'big four' banks in Peru?
Answer: Banco de Crédito del Perú
Explanation: Banco de Crédito del Perú is listed as one of the 'big four' banks in Peru.
Which of the 'big four' banks in South Africa was majority owned by Barclays between 2005 and early 2018?
Answer: Absa Group Limited
Explanation: Absa Group Limited was majority owned by Barclays between 2005 and early 2018.